Income Tax Ordinance 2001: Tax officials’ power to enter premises without notice
KARACHI: Tax officials have immense powers to enter any premises for the purpose of audit of a taxpayer or survey of a potential taxpayer.
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SRB suspends sales tax registration of Multinet Pakistan
KARACHI: Sindh Board of Revenue (SRB) has suspended sales tax registration of an IT service provider for failure in timely payment of provincial government dues and filing sales tax return.
SRB issues list of 1,289 non-filer customs agents
KARACHI: Sindh Revenue Board (SRB) has issued a list of 1,289 customs clearing agents, who have failed to comply with monthly return filing.
Rupee makes gain in open market
KARACHI: The rupee gained 10 paisas against dollar on Saturday in open market owing to inflows of foreign currency.
Procedure for obtaining sales tax registration
KARACHI: Every person engaged in making taxable supplies in Pakistan, including zero-rated supplies, in the course or furtherance of any taxable activity carried on by him, falling in any of the following categories, if not…
Weekly Review: equity market to rebound on improved economic indicators
KARACHI: The equity market is expected to rebound next week after tracking negative leads in the past three weeks, analysts said.
Income Tax Ordinance 2001: Taxpayers require to keep 6-year tax record for audit
KARACHI: Taxpayers are required to maintain record of tax affairs for six year for the purpose of audit and examination.
Customs recovers huge quantity of drugs, smuggled goods
KARACHI: Customs authorities have recovered huge quantity of contrabands and smuggled goods in different action against culprits on Friday.
NBP’s annual profit falls by 13pc on massive provisioning, write-offs
KARACHI: The net annual profit of National Bank of Pakistan (NBP) has declined by 13 percent owing to sharp increase in provisioning and write-offs.
FATF advises Pakistan to continue on action plan implementation
ISLAMABAD: Financial Action Task Force (FATF) in its plenary meeting on Friday advised Pakistan to continue to work on implementing its action plan to address its strategic deficiencies.
SBP announces freight support for sugar export
KARACHI: State Bank of Pakistan (SBP) on Friday said that it will disburse freight support payments to sugar mills in Punjab Province at variable rates to be calculated on daily basis as per prescribed formula.
SBP launches three Sharia compliant refinancing schemes for SMEs
KARACHI: State Bank of Pakistan (SBP) has issued three Shariah Compliant Refinance Schemes that are expected to provide level playing field to the Islamic banking industry, a statement said on Friday.