Friday, 24 March 2023
Trending
Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online 1500 Prize Bond Draw List 15 August 2022 How to Check and Verify Vehicle Ownership | Car Registration Online Check Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Prize Bond 750 list 2022 | Prize Bond Schedule 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC 750 Prize Bond List 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 Changes to offences and penalties under Finance Act 2021 FBR withdraws all appeals in exemption on foreign remittances Prize Bond Schedule 2022 Best Grocery Stores in Pakistan How to Withdraw Payoneer Money from JazzCash How to Check LESCO Bill Duplicate Online Prize Bond Draw Schedule 2022 FBR completed FATF actions on Anti Money Laundering and DNFBPs before deadline Taxation of gifts in Pakistan Definition of Beneficial Owners | Budget Proposals 2022-2023 Deadline extended for prize bond encashment of Rs15000, Rs25000, and Rs40000 How to Share Jazz Balance? World’s highest inheritance tax story of Samsung chairman Lee Kun Hee Tax & Accounting Jobs Let entrepreneurs work from parks ! FTO orders to probe tax officials involved in sales tax refund scam FBR Revises Property Valuation Rates of Immovable Properties in 40 Cities FBR’s National Single Sales Tax Return System Fully Functional Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives What is Raast? How will it help to Citizens of Pakistan? FBR POS Invoice Lucky Draw Winners Result List June 15 2022 FBR Lucky Draw 15 June 2022 15000 Prize Bond List 2021 Announced, On 1st April 2021 Persons required to get sales tax registration with FBR HBL launches first Personal Finance Manager Solution powered by Hysab Kytab How to Register and login at FBR IRIS ? How to Get NTN Registration ? FATF retains Pakistan on grey list Revised Petrol Prices in Pakistan | Latest Good News License Issuance Procedures for Integration of Point of Sales of Tier-1 Retailers with FBR Good news: Petrol prices reduced by government PTBA highlighted issues in Active Taxpayer List Bitcoin fell to a three-month low on Monday FBR monitoring teams will assess sales of resisting Tier-1 retailers FBR implemented new tax regime for imported Items Finance Act 2021: fixed allowance to be treated as salary for income tax deduction Launch of single sales tax return to end fake and flying invoices File tax return or pay penalty for tax year 2020: FBR started issuing tax notices Eid Ul Adha Holidays in Pakistan 2022 FBR achieves historic revenue collection growth in November 2021 100 Prize Bond List 2022 | Prize Bond Draw Schedule 2022 FBR Amends Sales Tax Return Form to deny 60pc input tax to nonintegrated retailers
UPDATES

FBR introducing tax stamps for track & trace system from July 2021

By

The Federal Board of Revenue (FBR) expects to introduce tax stamps on products in various sectors from July 2021.

FBR said the installation of track and trace systems in various sectors would be a game changer to improve revenue and prevent counterfeit products in the market. The FBR expects to start imposing UIM (tax stamp) on various products from July 2021. Where FBR will have authority to seize packets and sacks without tax stamps to avoid illegal sale of tobacco, cement, sugar and fertilizer.

The FBR on Monday successfully completed the assessment process for the approval of a five-year license for an IT-based solution for electronic monitoring (track and trace system) of the specified equipment, tobacco, cement, sugar and fertilizer. Initially FBR received 11 bids out of which 8 bids were technically eligible. Technical scores were given to them based on specific criteria. In order to ensure complete transparency, the technical scores of all the technically compatible bidders were displayed to see all the participants before opening the financial bids.

The financial bidding opened at February 1, at the FBR Headquarters, Islamabad. Attended by 8 technically sound applicants / bidders. The financial bids then publicly opened by a seven-member licensing committee headed by Karamatullah Khan Chaudhry. On the same occasion, aggregate (technical and financial) scores of all 8 eligible applicants were obtained. As a result of the above, M/s. AJCL/Authentix/MITAS declared the “Most Beneficial Bid” on the basis of combined high scores. According to the Licensing Rules 2019 and PPRA Rules 2004.

Top-Tax-Consultants-Lahore-Pakistan
Ads:

After these four industries, which are notorious for tax evasion. FBR said it will extend this track and trace system to all other industries in an effort to document the economy.

FBR-Press-Release-Track-Trace-System
FBR Press Release

Trace & Track System | FBR | Federal Board of Revenue |

LATEST POSTS

TaxUrdu.com

Related posts
UPDATES

FBR issues new active taxpayers list for Tax Year 2022

By
Table of Contents FBR issues new active taxpayers list for Tax Year 2022How much taxpayers filed…
Read more
UPDATES

Salient Features of Finance Supplementary Bill 2023 | Mini Budget

By
Table of Contents Salient Features of Finance Supplementary Bill 2023 | Mini BudgetFinance…
Read more
UPDATES

How to Check your FBR Maloomat and tax details

By
Table of Contents How to Check your FBR Maloomat and tax detailsStep by step procedure to check the…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

    1 Comment

    Comments are closed.