Posts by D2D Logistics | D2D Logistics

Nausheen Javaid officially new FBR Chairperson

April 6, 2020 D2D Logistics

KARACHI: The Establishment Division, Government of Pakistan, has terminated the appointment of Syed Muhammad Shabar Zaidi as Chairman Federal Board of Revenue (FBR) and appointed Ms. Nausheen Javaid Amjad as the new Chairperson of FBR with immediate effect. Ms. Nausheen Javaid Amjad (BS-22) is presently posted as Member (Admin) FBR with additional charge of Chairperson FBR. An official said now that Ms. Nausheen is appointed Chairperson FBR, she would be able to take decisions with full authority, and several reforms are likely to be introduced in the near future. The…

Under-invoicing cases to be processed under money laundering laws

February 24, 2020February 24, 2020 D2D Logistics

KARACHI: The Directorate of Post Clearance Audit (PCA) has initiated scrutiny and analysis of last five year data comprising FIRs lodged for under-invoicing, mis-declaration and over-invoicing, Order-in-Originals and Contravention Reports served on importers and traders. The cases of under-invoicing, mis-declaration and over-invoicing would now be processed under Anti-Money Laundering Act also. First case has been lodged against M/s Megaplus Pakistan, wherein the authorities are determining the means of illegal transfer of funds from Pakistan. Ministry of Finance has reportedly assigned Directorate of Post Clearance Audit (PCA) and its high profile…

ECC bans wheat export from Pakistan

July 18, 2019 D2D Logistics

ISLAMABAD: The federal government on Wednesday decided to impose a ban on export of wheat and wheat flour amid rising concern over the price hike trend of roti and other wheat products in the wake of low wheat production in the country. The cabinet’s Economic Coordination Committee (ECC), headed by Adviser to Prime Minister on Finance and Revenue Dr Hafeez Shaikh, took the decision at a meeting. During the Rabi season 2018-19, the ministry of national food security and research recorded 24.12 million tonnes of wheat production against the projected…

FBR sends notices to parents paying Rs 2 lakh per year

July 4, 2019 D2D Logistics

LAHORE: The Federal Board of Revenue (FBR) is desperately looking for potential taxpayers these days and is aggressively digging the record of Pakistani citizens who, at some stage, have come under prominent sections of the Income Tax Ordinance. According to media, recently, the tax collecting agency has dispatched letters to parents, who are paying an annual fee of Rs200,000 to the educational institutes where their children are studying, asking them to declare their hidden assets and become a tax return filer. “Data available with the FBR reveals that advance tax…

Tax rate for token payment & registration of cars not changed

July 4, 2019 D2D Logistics

KARACHI: Federal Board of Revenue (FBR) has strongly rebutted the perception that rate of tax has been changed in the Financial Budget-2019 for the token payment and registration of cars. After verification it was noticed that this misperception was due to a typographical mistake which was rectified in the Finance Act-2019. The rate of tax for the token payment and registration of cars is the same that was charged in the previous year. There is no enhancement or reduction in the tax rate. FBR further added that no tax has…