KARACHI, October 23 2024: Seized goods valued at over Rs. 23 million have reportedly been stolen from Karachi Airport’s Royal Service Terminal, under the watch of customs and terminal officials. According to documents, the Post Clearance Audit (PCA) South exposed this case of illegal pilferage, which involved a Lahore-based company accused of misdeclaring liquid food…
Karachi, April 29, 2024: The All Pakistan Cement Manufacturers’ Association (APCMA) welcomes the recent statement by the Honorable Prime Minister of Pakistan on the implementation of the track and trace system by the Federal Board of Revenue and the initiation of investigation to probe the mismanagement in its implementation. The APCMA in various meetings and…
ISLAMABAD, September 30, 2023: The Federal Board of Revenue (FBR) has collected tax revenue amounted to Rs. 2,041 billion against assigned target of Rs. 1,978 billion thus exceeding the target by Rs. 63 billion during the first quarter of the current financial year (FY24). The collection is also higher than the same period of last…
Karachi, July 21, 2020: The Federal Board of Revenue (FBR) has given relief to commercial importers by allowing them to pay 2pc income tax instead of 5.5pc due to anomalies of chemicals & dyes raw material, which was included in part 3 (finished goods). Pakistan Chemicals & Dyes Merchants Association (PCDMA) had pointed out in…
Karachi, March 09, 2020: Federal Board of Revenue has stated that revenue has grown by 17 percent with additional revenues of Rs.345 billion over last year. In the current Fiscal Year 2019-20, out of target of Rs.920 billion for the period from July to January 2020. The FBR has accumulated Rs. 897.5 billion Income Tax…