NFC Meeting: Provinces to be made part of IMF dialogues on fiscal targets

ISLAMABAD: The provinces will be made part of ongoing dialogues with International Monetary Fund (IMF) regarding fiscal targets over medium term. Read more »

Cabinet decides independent audit to check inflated gas bills

ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Wednesday decided to conduct an independent audit to check inflated bills of gas. Read more »

100pc foreign shareholding allowed in legal entities incorporated in Pakistan: Razak Dawood

KARACHI: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, has said that 100 percent foreign shareholding remained allowed in legal entities incorporated in Pakistan. Read more »

Equity market ends down by 109 points on buying activities

KARACHI: The equity market fell by 109 points on Wednesday on buying activities in major scrips. Read more »

Rupee gains five paisas against US dollar

KARACHI: The Pak Rupee gained five paisas against US dollar on Wednesday owing to improved sentiments on expected foreign inflows. Read more »

FBR starts receiving real-time sales information from 2,574 outlets of textile, leather sectors

ISLAMABAD: Around 2,574 outlets of 75 units of textile and leather sectors have started real-time information of their sales to Federal Board of Revenue (FBR), a statement said on Wednesday. Read more »

Domestic oil sales plunge by 28.45pc in seven months

KARACHI: The domestic oil sales have dropped by 28.45 percent to 10.74 million tons during July – January 2018/2019 as compared with 15.01 million tons in the same period of the last... Read more »

FBR releases 24pc less refunds in seven months amid huge collection shortfall

ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall. Read more »

US dollar eases in early trading

KARACHI: The US dollar eases in the interbank foreign exchange market in early trading on Wednesday. The exchange rate in the foreign currency market was at Rs138.25 to the dollar in early... Read more »

Suppressed sales tax auditors and challenging revenue collection

KARACHI: Sales Tax / Value Added Tax (VAT) is the most significant source of tax collection in the world.       Unlike direct tax it is known as tax on consumption... Read more »

Income Tax Ordinance 2001: Tax recovery due by non-resident member of AOP

KARACHI: Federal Board of Revenue (FBR) has powers to recover outstanding tax from a resident Association of Persons (AOP) in case tax due of a non-resident, who is member of such AOP.... Read more »