{"id":53756,"date":"2019-07-19T14:52:58","date_gmt":"2019-07-19T09:52:58","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=53756"},"modified":"2019-07-19T14:52:58","modified_gmt":"2019-07-19T09:52:58","slug":"fbr-warns-business-community-against-smuggling-misdeclaration","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-warns-business-community-against-smuggling-misdeclaration.html","title":{"rendered":"FBR warns business community against smuggling, misdeclaration"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR), in a statement issued on Thursday, warned the business community of \u2018punitive action\u2019 in any identified cases of under-invoicing or misdeclaring (the quantities of) their imported goods \u2013 a news source reported.<\/p>\n<p>The statement warned that any importers, clearing agents, or staff members found involved in such practices would be liable to undergoing legal investigation. The board has also urged the business community to refrain from smuggling goods and stated that anyone \u2018found involved in any way dealing with the sale, purchase or storage of the same will be dealt with strictly\u2019.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-chief-urges-citizens-to-benefit-from-income-tax-filing-deadline-extension.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR chief urges citizens to benefit from income tax filing deadline extension<\/a><\/p>\n<p>The board\u2019s communication also noted that \u2018smuggling\u2019 not only caused huge revenue losses but also severely damaged the country\u2019s industries and future (inbound) investment prospects.<\/p>\n<p>On a related note, FBR Chairman Shabbar Zaidi recently wrote a letter to all the director generals and members of the board to end the uncertainty among officials over the issue of large scale appointment transfers within FBR.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-sends-revised-valuation-rates-summary-approval.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR sends revised valuation rates&#8217; summary for approval<\/a><\/p>\n<p>The letter stated that while there existed a tradition of transfers carried out within FBR at the beginning of each financial year, this practice would not be turned into a norm. The chairman instead asked all the board officials concerned to focus on the\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-sets-pkr-300-bn-target-july-tax-collection.html\" target=\"_blank\" rel=\"noopener noreferrer\">recovery of taxes<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR), in a statement issued on Thursday, warned the business community of \u2018punitive action\u2019 in any identified cases of under-invoicing or misdeclaring (the quantities of) their imported goods \u2013 a news source reported. The statement warned that any importers, clearing agents, or staff members found involved in such practices would be liable to undergoing legal investigation. The board has also urged the business community to refrain from smuggling goods and stated that anyone \u2018found involved in any way dealing with the sale, purchase or storage of the same will be dealt with strictly\u2019. Read:\u00a0FBR chief urges citizens to benefit from income tax filing deadline extension The board\u2019s communication also noted that \u2018smuggling\u2019 not only caused huge revenue losses but also severely damaged the country\u2019s industries and future (inbound) investment prospects. On a related note, FBR Chairman Shabbar Zaidi recently wrote a letter to all the director generals and members of the board to end the uncertainty among officials over the issue of large scale appointment transfers within FBR. Read:\u00a0FBR sends revised valuation rates&#8217; summary for approval The letter stated that while there existed a tradition of transfers carried out within FBR at the beginning&hellip;<\/p>\n","protected":false},"author":57,"featured_media":8805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[12316],"persona":[],"class_list":{"0":"post-53756","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-fbr-warns-business-community-against-smuggling"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR warns business community against smuggling, misdeclaration - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR), in a statement issued on Thursday, warned the business community of \u2018punitive action\u2019 in any identified\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-warns-business-community-against-smuggling-misdeclaration.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR warns business community against smuggling, misdeclaration - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR), in a statement issued on Thursday, warned the business community of \u2018punitive action\u2019 in any identified\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-warns-business-community-against-smuggling-misdeclaration.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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