ISLAMABAD: Pakistan is one of the top markets for the illicit tobacco trade in Asia, and the market share of these illegal manufacturers have increased from 35pc to 42pc in the last three years. As...

Illegal tobacco trade in Pakistan is the direct result of tax evasion in the country worth PKR 80 billion every year. They make up roughly 40% of the total tobacco market. Great tax leakages can...

LAHORE: Over Rs40 billion estimated losses to exchequer by smuggled tobacco products is just tip of the iceberg compared to damage dealt by myriad of other contrabands coming into the country. It is regrettable that...

QUETTA: Quetta Customs and Security forces in a joint operation recovered foreign goods worth Rs 150 million. According to customs sources, the staff of the customs check post at FC and Ziarat Cross raided...

LAHORE: The tobacco industry of Pakistan believes that effective enforcement of Federal Board of Revenue’s (FBR) track and trace system to counter tax evasion is vital, or else its impact will be the same...

The Federal Board of Revenue (FBR) has estimated that approximately 25 percent of the companies in Pakistan are zombie firms involved in tax evasion due to persistently declaring losses. An FBR report on “Zombie Firms...

KARACHI: Pakistan Customs has destroyed Rs.2.5 billion worth of smuggled and contraband items after a gap of two years. Addressing a function in this regard, Chief Collector Customs Enforcement Qadir Memon said that smuggling is...

ISLAMABAD: After installing the Track and Trace System at 78 sugar mills all over the country, the FBR has raided the premises of one warehouse of a sugar mill located in Hyderabad and seized...

ISLAMABAD: Prime Minister Imran Khan Tuesday said the former rulers should be punished for taking the country’s loans from Rs6 trillion to Rs30 trillion in 10 years. He was addressing the inaugural ceremony of the...

LAHORE: Illicit trade is weakening Pakistan’s performance in the global arena and the country is losing a hefty chunk of tax revenue, which can be used to enhance development spending. In a recent report, Ipsos...