The government has been trying to tighten its noose around illegal car trade elements but the menace still persists. A recent news update revealed that a
National
May 25, 2021
ISLAMABAD: The Federal Tax Ombudsman has taken notice of the slow implementation of recommendations in cases of misuse of jewelry import/export facility under the Entrustment Scheme.
The FTO, in a suo moto case, had recommended to the FBR and FIA to initiate an inquiry against all the officers, departments and importers/exporters involved in misuse of imports-cum-exports facility in respect of gold, jewellery and other precious metals, resulting in massive loss of revenue to national exchequer. The FTO findings had revealed that gold worth billions of rupees was either not exported against imported gold or was exported against fake form E.
National
May 25, 2021
ISLAMABAD: The Federal Tax Ombudsman has taken notice of the slow implementation of recommendations in cases of misuse of jewelry import/export facility under the Entrustment Scheme.
The FTO, in a suo moto case, had recommended to the FBR and FIA to initiate an inquiry against all the officers, departments and importers/exporters involved in misuse of imports-cum-exports facility in respect of gold, jewellery and other precious metals, resulting in massive loss of revenue to national exchequer.
The FTO findings had revealed that gold worth billions of rupees was either not exported against imported gold or was exported against fake form E.
FTO Asks FBR to Pay Rs. 1,000 to Tax Filers
The Federal Tax Ombudsman (FTO) has recommended the Federal Board of Revenue (FBR) to pay Rs. 1,000 as an incentive for the filing of an income tax return through cash payback payment in the bank account of the return filer under the policy measure to broaden the tax base.
According to the FTO annual report (2020) issued here on Tuesday, a category-wise breakup of the total fresh complaints against the FBR with percentage revealed that the number of complaints in the category of Income Tax constituted 65.16 percent, which is more than all the other taxes put together.