Like the Philippines' APO Production Unit, the Pakistan Security Printing Corporation (PSPC) has the authority to print revenue stamps
and tobacco excise labels under the Supply and Distribution of Stamps rule 1954.
KARACHI -- Senior Member Board of Revenue Sindh, Shoaib Ahmed Siddiqi has said that a letter written to the Chairman FBR has called for ensuring recovery of Revenue Stamps
Duty in the interest of the government and the people.
A revenue stamp
is a type of stamp that shows government tax has been paid.
TUNIS, (TAP) - The price of the revenue stamp
imposed on travellers to receive their foreign currency declaration on their entry to Tunisia has increased from 3 to 10 dinars, under Article 45 of the Finance Law 2015, said Colonel Mohamed Hedi Safer, Director of the Office of Studies and Legislation at the General Customs Administration.
The star lot of the sale is the 1897 Three Cents Red Revenue stamp
, the value of which was changed to one dollar using small Chinese characters.
The Inland Revenue Stamp
Office has recently spotted that a loophole was allowing companies to avoid stamp duty on commercial property worth up to pounds 10 million.
John Hodgson, senior tax partner at Grant Thornton, said the Inland Revenue Stamp
Office had spotted that a loophole was allowing companies to avoid stamp duty on commercial property.
He was able to get away with the fraud because staff at the Land Registry did not notice forms he was submitting did not contain the official Inland Revenue stamp
certifying the duty had been paid.
For emphasis, the stamps are fake because they do not contain several multi-layered security features of a valid internal revenue stamp
,' the BIR said.
The Inland Revenue stamp
dates each return as it is received and it has promised to refund any penalties already paid if it is discovered that the notice was issued in error.
The complainant stated that after verification, the stamps "did not contain several of the multi-layered security features of a valid internal revenue stamp
72 dated September 5, 2014, the BIR imposed the use of the Internal Revenue Stamp
Integrated System (IRSIS) for the ordering, distribution, affixture and monitoring of tax stamps on imported and locally manufactured cigarettes.It was reported just a few months ago that the BIR wants a strict monitoring of the implementation of cigarette tax stamps to ensure full compliance of tobacco manufacturers.BIR Commissioner Kim Jacinto-Henares said in an earlier report that the tax agency formed a monitoring team for IRSIS.Since December last year, all local cigarette manufacturers were required to affix numbered stamps on each pack of cigarettes and effective this month, all locally manufactured cigarettes in the market should have the stamps.