KARACHI: Federal Board of Revenue has amended jurisdiction of Commissioners Inland Revenue, Large Taxpayers Unit-II Karachi with immediate effect.
The FBR, exercising the powers conferred by sub-section (1) of section 209 of the Income Tax Ordinance, 2001, sub-section (1) of section 30 and section 31 of the Sales Tax Act, 1990, subsection (1) of section 29 of the Federal Excise Act, 2005, amended the Board jurisdiction order C.No.5 (1) Jurisdiction/2016-87741-R dated July 1, 20016.
Under the amendments, in the preamble after the work persons “and directors thereof” shall be added. It is further clarified that if a director of a company being assessed at LTU-II, Karachi is also a director assessed in another LTU or RTO, the director shall have jurisdiction at LTU-II, Karachi, except those directors whose jurisdiction has been assigned to LTU, Karachi.
Experts call for strong regulations, mutual recognition to reduce business costs
ISLAMABAD: Business heads and policymakers have demanded of the government to bring about coordinated regulatory reforms, harmonized standards and stronger...
