Daily Archives: May 13, 2017

Chinese customs officials due next week to finalize electronic data exchange

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KARACHI: Officials of Chinese customs authorities are scheduled to come next week to finalize the launch of electronic data exchange (EDE) with Pakistan Customs.

Budget Proposals 2017/2018: FPCCI recommends reducing record keeping time to three years

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the Federal Board of Revenue (FBR) to reduce the requirement of record keeping to three years instead of existing six years.

Budget Proposals 2017/2018: FBR officials grossly misuse powers in determining sales tax payment

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that powers of Inland Revenue officers have been grossly misused in determining the payment of tax against a trade transaction.

Budget Proposals 2017/2018: Power to post IR officers at business premises should be withdrawn

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KARACHI: Federal Board of Revenue (FBR) has been urged to amend sales tax laws related to posting of Inland Revenue officers at premises of a registered persons for monitoring sales and production.

Budget Proposals 2017/2018: Extra sales tax on tiles, tyre and tubes should be withdrawn

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that two percent extra tax has negative impact on manufacturing industry.

Budget Proposals 2017/2018: imposition of 2pc further sales tax promoting flying invoices

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has that further sales tax at two percent has resulted in promoting menace of flying invoices causing generation of illegal refund claims.