PTBA suggests 5-year policy for gradually reducing sales tax rate

KARACHI: Pakistan Tax Bar Association (PTBA) has suggested gradually reduction of sales tax rate under five-year policy and for first year the sales tax rate should be brought down to 15 percent... Read more »

Exemption on import of telecom equipment demanded to encourage investment

KARACHI: Foreign and multinational companies have demanded the Federal Board of Revenue (FBR) to exempt sales tax and customs duty on import of telecom equipment in order to encourage investment in this... Read more »

Chartered Accountants declare documenting agriculture income must for tax reforms

KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) has said that documentation of agriculture income is must for bringing tax reforms in the country. Read more »

FPCCI hails appointing professional for FBR top post

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday praised the government for appointing a professional as chairman of the Federal Board of Revenue (FBR). Read more »

Reza Baqir appointed as SBP governor

ISLAMABAD: The federal government on Saturday appointed Dr. Reza Baqir as the governor of State Bank of Pakistan (SBP) for next three years. Read more »

FBR notifies sales tax rates on petroleum products for May 2019

ISLAMABAD: Federal Board of Revenue (FBR) on Saturday notified sales tax rates for petroleum products for the month of May 2019. Read more »

Meezan Bank, CDC sign agreement to launch share custody services

KARACHI: Meezan Bank – Pakistan’s leading Islamic bank, and Central Depository Company (CDC) signed an agreement to launch shares custody services, a statement said on Friday. Read more »

Banking timings during Ramazan-ul-Mubarak announced

KARACHI: State Bank of Pakistan (SBP) on Friday announced banking timings during holy month of Ramazan-ul-Mubarak. Read more »

Foreign exchange reserves deplete by $251 million to $15.743 billion

KARACHI: The total liquid foreign exchange reserves of the country have depleted by $251 million to $15.743 billion by week ended April 26, 2019 as against $15.994 billion in the previous week,... Read more »

Meezan Bank posts 49 percent growth in quarterly net profit

KARACHI: Meezan Bank Limited has declared 49 percent increase in profit after tax to Rs2.85 billion for the quarter ended March 31, 2019 as compared with Rs1.19 billion in the same period... Read more »

Second phase of Pak-China FTA signed; two premiers witness signing ceremony

ISLAMABAD: The second phase of Pakistan China Free Trade Agreement (FTA) signed on Sunday, which was witnessed by the premiers of both the countries. Read more »

Sales Tax Act 1990: IR officers authorized to arrest fraudsters

KARACHI: The sales tax law has authorized officers of Inland Revenue to arrest persons committing fraud or any other offence. Read more »