NBR toughens up on under-invoicing

The National Board of Revenue has amended the Customs Act, 1969, setting a minimum penalty that is at least double the amount of fine for under-invoicing and ending a five-decade-old system of nominal fines. The penalty for dodging taxes could be as high as four times the amount owed depending on the extent of the irregularities. On 20 July, the NBR sent instructions to the 21