This post is also available in: English
Federal Board of Revenue is issuing notices under section 108(3) of the Income Tax Ordinance, 2001 on account of transaction with associates. Objective of these notices is to assess under-invoicing on income under FTR. These notices are issued for tax years 2018 and 2019 where import falls under Final Tax Regime. On the basis of these information tax authorities will reassess FTR income on these transaction.