Business friendly changes made to curb under-invoicing: FBR

ISLAMABAD: Federal Board of Revenue (FBR) chairman Shabbar Zaidi on Saturday said that the financial body has made valuable business-friendly changes in imports’ system to curb under-invoicing.

Shabbar Zaidi posted on twitter, “As stated earlier substantial business-friendly changes have been made in ‘unit of measurement’ system and ‘Valuation Rulings’ with respect to the import of goods. Importers are suggested to provide input for any further improvement/ amendment. This is vital to curb under-invoicing.”

As stated earlier substantial business friendly changes have been made in ‘unit of measurement’ system and ‘Valuation Rulings’ with respect to import of goods. Importers are suggested to provide input for any further improvement/ amendment. This is vital to curb underinvoicng.

— Syed Shabbar Zaidi (@ShabarZaidi) November 16, 2019

On 13th November, Syed Shabbar Zaidi said that the government decided to take FBR officers on board in the reforms process.

Shabbar Ali Zaidi earlier announced to initiate a panel audit of the sugar industry to improve tax compliance.

In a tweet posted by Shabbar Ali Zaidi said that the FBR  has decided to initiate a panel audit of the Sugar industry in order to improve Tax Compliance and Ensure Transparency in reporting mechanism.