ISLAMABAD: Federal Board of Revenue has decided to introduce electronic monitoring system SEMP to void the tax theft at manufacturing level.
As per a FBR source the project of SEMP has been in preliminary stage and FBR will hire a private company who would start a pilot project very soon to implement it practically. FBR authorities were of the view that theft of tax at manufacturing level cost national exchequer of billions as there has no record system of manufactured items. Also FBR has no control system to caught this theft at past.
FBR has asked all manufactured to adopt the international style of writing code number and mention page number on their products. After the said system it will be very easy for FBR field formations to detect any tax evasion by checking market goods by electronic device that if they were mentioned in the record presented to FBR or not. The new system will also be applied to beverages.
KP asks Centre to defer tax exemption withdrawal in Malakand, merged districts
PESHAWAR: The Khyber Pakhtunkhwa government has asked the federal government to defer the proposed withdrawal of tax exemptions in Malakand...
