Graphic Online
BY: Maxwell Akalaare Adombilla
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The Ghana Revenue Authority (GRA) has rolled out a tax incentive scheme for taxpayers to help cushion businesses and people against the coronavirus disease (COVID-19) pandemic.
The scheme involves waiving the penalty and the accrued interest on tax arrears for both corporate and individual taxpayers as a motivation for them to regularise their tax obligations during the crisis period.
The package from the authority took effect from April this year and allowed people and institutions that had either not registered with the GRA or breached the tax payment and the filing of returns schedules to apply to the authority for waivers.
Customs driver jailed for selling official car Toyota Land Cruiser for 20k modernghana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernghana.com Daily Mail and Mail on Sunday newspapers.
FBR Raises Customs of MG Vehicles by 14.5 Percent
In a significant development, the Federal Board of Revenue (FBR) has reportedly bumped up the assessable customs value of the MG SUVs by 14.5 percent over the weekend by means of a ‘Fall Back Method’ as provided under Section 25(9) of the Customs Act, 1969. After the hike, the customs value of the vehicles has gone from $11,632 per unit to $13,314 per unit.
Pakistan’s JW SEZ (Pvt.) Ltd. has reportedly become the subject of an audit once again because of the alleged under-invoicing of the imported units of the MG HS that were supplied to the Pakistan auto-company by SAIC Motor of China. As per the findings of the initial audit process, the maximum unit prices of the MG CBU vehicles were reportedly around $22,000.
Business
April 24, 2021
KARACHI: The Federal Board of Revenue (FBR) on Friday asked customs authorities to make special arrangements to prevent trade-based money laundering
“Besides focusing on under invoicing of imports, also identify cases of over-invoicing of imports of low-duty or exempt items, and mis-invoicing of exports (to prevent flight of capital or trade-based money laundering) and to convey such information to concerned formations,” the FBR said in a letter to director general of customs valuation. FBR issued instructions to directorate customs valuation for inspecting over-invoicing of imported goods to prevent trade-based money laundering. The Directorate of Customs Valuation was asked for fixing customs valuation in a ‘judicious’ manner to stop under invoicing and misdeclaration.
FBR for special arrangements to curb trade-based money laundering thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.