ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch action against the sales tax registered companies and traders who have obtained refund running in millions of rupees on the basis of fake receipts of blacklisted companies. FBR has issued directives to inland revenue authorities to issue sales tax notices to registered companies and traders who have filed sales tax, input tax and sales tax refund claims on the receipts of black listed companies besides rejecting their input tax and sales tax refund claims on the basis of which they have approached them for input tax adjustment or sales tax refund. The FBR also directed that show cause notices be served on these companies and traders after they are identified.
Exporters warn strong rupee is hurting Pakistan’s exports & investment
LAHORE: Pakistan’s exporters have raised concerns over the country’s managed exchange rate policy, arguing that an artificially strong rupee is...
