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Tag Archives: Sales Tax

Chief Secretary orders SRB to probe Maersk Pakistan’s mega sales tax scam within 15 days

Chief Secretary Sindh

KARACHI: Customs Today unearthed mega sales tax scam of Maersk Pakistan (Pvt) Ltd where the company in connivance with its agents, audit firms and some officials of Sindh Revenue Board evaded billions of rupees sales tax in terms of services provided to its local clients. After extensive coverage of the issue by Customs Today, the Sindh Chief Secretary through diary ... Read More »

SC should constitute high-level JIT similar to Panama case to probe Maersk sales tax evasion: Imran Ghazi

Imran Ghazi

MULTAN: The Supreme Court of Pakistan should constitute a high level Joint Investigation Team (JIT) similar to Panama case for probing mega sales tax fraud of M/s Maersk Pakistan (Pvt) Ltd. Pakistan’s biggest ever fraud of sales tax revealed by Customs Today against M/s Maersk Pakistan (Pvt) Ltd should be investigated appropriately for recovery of robbed amount. It was stated ... Read More »

Sales tax mega scandal: SRB Commissioner vows stern action against Maersk Line

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KARACHI: Commissioner Operations Sindh Revenue Board (SRB) Mohammad Amir said that stern action would be taken against M/s Maersk Pakistan (Pvt) Ltd after completion of audit by the Board as it is found that the company ‘evaded’ sales tax on services worth billions of rupees. Talking exclusively with Customs Today, Amir said that the Board will definitely issue a show ... Read More »

Customs Today exposes Maersk sales tax mega scam, SRB starts audit

SRB Khalid Mehmood

KARACHI: Pakistan’s biggest ever fraud of sales tax is exposed by Customs Today where M/s Maersk Pakistan (Pvt) Ltd has evaded billions of rupees sales tax in terms of services provided to its local clients. After Customs Today unearthed this mega scam of sales tax, Chairman Sindh Revenue Board (SRB) Khalid Mehmood has finally decided to conduct audit of Maersk ... Read More »

Pakistan’s biggest ever Sales Tax fraud: NAB, FIA asked to probe Maersk, SRB connivance

Arsalan Khan

KARACHI: Pakistan’s biggest ever fraud of sales tax is unearthed where Maersk shipping line has evaded billions of rupees sales tax in terms of services provided to its local clients whereby businessmen of Pakistan have appealed to NAB and FIA to intervene and investigate connivance of Maersk and Sindh Revenue Board in the alleged mega scandal. According to details, Maersk ... Read More »

FBR issues procedure for adjustment of ST by steel melters at import stage

steelmelters

ISLAMABAD: The Federal Board of Revenue has issued procedure for adjustment of sales tax by steel melters paid at import stage on the specified categories of remeltable iron and steel scrap with effect from July 1, 2018. The FBR, in supersession of Sales Tax General Order No. 119 of 2017 dated 2nd August, 2017, and in exercise of the power ... Read More »

IHC seeks record of four cases filed against ATIR, Customs Appellate Tribunal

IHC

ISLAMABAD: Islamabad High Court on Thursday directed parties to submit record of the cases while hearing four customs matters filed against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. A citizen, M Anwar Khan, had filed four customs references against Customs Appellate Tribunal and Appellate Tribunal Inland Revenue. IHC division bench, comprising Justice Aamer Farooq and Justice Mohsin Akhtar Kiyani, ... Read More »

Faisalabad RTO fails to seize record of Rashid Textiles

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FAISALABAD: The Federal Board of Revenue (FBR) Regional Tax Office (RTO) could not get the sales record of Rashid Textiles because the officials did not obtain the search warrants. Sources informed Customs Today that Assistant Commissioner Ghulam Mustafa along with an auditor and two inspectors conducted a raid at the mill to seize the record but could not get it ... Read More »

Appraisement-East fails to achieve set target of Rs18.99b in Jan

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KARACHI: The Model Customs Collectorate MCC Appraisement-East has collected Rs 17.88 billion in January, 2015 under different heads, including customs duty, sales tax, income tax and federal excise duty against the set target of Rs 18.99 billion. According to revenue statistics, the MCC Appraisement-East has collected Rs 5918.71 million in share of Customs Duty against the set target of Rs ... Read More »

Punjab Revenue Authority registers NTS for sales tax under Finance Bill 2014

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LAHORE: Punjab Revenue Authority (PRA) has forcibly registered National Testing Service in sales tax as it was not ready to voluntarily get registration even after earning millions. It is essential to pass the test conducted by the NTS for recruitment in government departments and for admission in any University. The FBR Sources told Customs Today that NTS is not paying ... Read More »

Appraisement-West collects Rs 21.56b in Dec 2014

sales-tax

    KARACHI: The Model Customs Collectorate of Appraisement-West has collected Rs 21560 million in December 2014 under the heads of customs duty, sales tax, income tax and federal excise duty. According to statistics, the collectorate has collected Rs 10132 million customs duty with an increase of Rs 2129million as compared to the collection in December 2013. The collectorate has ... Read More »

Japan machinery orders tumble 6.4%, lowest in 5 months

japan machinary

TOKYO: Japan’s key gauge of capital spending fell for the first time in five months in October in a sign that business investment may be losing momentum. The government indicated that capital spending could be set to weaken as Japan struggles to recover from an April sales tax increase that pushed the economy into recession. Machinery orders dropped a larger ... Read More »

Rs12 billion rebate: PDA criticises FBR for not giving ST refund

fbr

ISLAMABAD: Pakistan Dairy Association (PDA) has criticised Federal Board of Revenue (FBR) for not refunding Rs12 billion sales tax rebate since 2010-11. An Executive Committee meeting of PDA, chaired by its Chairman Faisal Malik, has been told that the dairy industry is undergoing the financial crunch due to not refunding of this hefty amount. The meeting told that the country’s ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

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LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

Telenor, Ufone, Mobilink, Zong, Warid file petition against sales tax on mobiles, SIMs

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ISLAMABAD: The Islamabad High Court (IHC) has adjourned the hearing into a petition filed by telecom operators including Telenor, Ufone, Mobilink, Zong and Warid against imposition of sales tax on mobile phones and SIM cards. On Thursday counsel for the telecom companies Barrister Khalid Anwar completed his arguments. He concluded his arguments by saying that by imposing sales tax on ... Read More »

Appraisement-East collects over Rs 5.18b during first 10 days of Nov

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KARACHI: The Model Customs Collectorate of Appraisement- East collected a revenue of over Rs 5,185 million during the first 10 days of November. The Collectorate collected Rs 1,359 million under the head of Customs Duty; Rs 2,858 million in Sales Tax, Rs 942 million in Withholding Tax and Rs 26 million under the head of Federal Excise Duty. During July ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

tax commission

LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

FBR in pursuit of Rs2810b achieves Rs750b in Oct up from Rs661b, records 17% growth

FBR

ISLAMABAD: Federal Board of Revenue (FBR), in pursuit of Rs2810 billion target, has collected Rs750 billion during July-October this year against Rs661 billion in corresponding period of 2013-14. Sources said that during July to October 2014, FBR collected Rs265 billion as direct taxes, Rs355 billion as sales tax, Rs47 billion as federal excise duty and Rs86 billion customs duty. During ... Read More »

Port Qasim surpasses revenue target by Rs1027m, customs duty by Rs681m

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KARACHI: The Model Customs Collectorate Port Qasim has collected revenue of Rs 21837.29 million in the month of October 2014 in share of different heads including Customs Duty (CD), Sales Tax (ST), Federal Excise Duty (FED) and Income Tax (IT). According to details, MCC Port Qasim has collected revenue of Rs 21837.29 million in the month of October 2014 against ... Read More »

FBR collects Rs180b in Oct with 17pc growth

FBR Revenue increase

ISLAMABAD: Federal Board of Revenue’s (FBR) gross revenue collection stood at Rs180 billion during the month of October this year against Rs156 billion it collected in October 2013, reflecting a growth of 17 per cent. The FBR has paid refunds/rebates of Rs8 billion during the month against Rs4 billion paid in last October. The Board has collected Rs750 billion during ... Read More »