ISLAMABAD: Exchange rate losses have increased the public debt by around Rs1,200 billion, according to Fiscal Policy Statement 2018-2019 released by the Ministry of Finance.
(more…)Month: February 2019
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Income Tax Ordinance 2001: Liquidators require to inform commissioner in 14 days of taking possession of assets
KARACHI: A liquidator is required to inform Commissioner of Inland Revenue in 14 days of taking possession of an asset. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 which explained liquidators under Section 141 for recovery of tax from taxpayers in default.
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FBR set to launch door-to-door survey to identify tax evaders
ISLAMABAD: Federal Board of Revenue (FBR) will launch a door-to-door survey for identifying potential tax evaders to broaden the tax base, a report issued by ministry of finance said.
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World Bank advises Pakistan for urgent water reforms to get economic, social benefits
ISLAMABAD: The World Bank has advised Pakistan for urged reforms to improve water use efficiency and service delivery to get more economic, social and environmental benefits from its water, subject to urgent reforms.
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FBR reshuffles BS-19-20 Customs officers; notifies 44 transfers
ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 44 officers of Pakistan Customs Service (PCS) in BS-19-20 with immediate effect until further orders.
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FBR notifies transfer, postings of BS-20-21 IRS officers
ISLAMABAD: Federal Board of Revenue (FBR) has notified transfer and postings of senior officers of Inland Revenue Service (IRS) of BS-20-21 with immediate effect and until further orders.
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Equity market climbs up by 500 points on foreign inflows
KARACHI: The equity market climbed up by over 500 points on Monday owing to positive reports of foreign inflows from friendly countries.
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Rupee sheds five paisas against US dollar
KARACHI: The Pakistani Rupee experienced a marginal decline of five paisas against the US Dollar on Monday, attributed to heightened demand for import and corporate payments.
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FBR issues SROs to withdraw additional, customs duty on import of cotton
ISLAMABAD: Federal Board of Revenue (FBR) has exempted customs duty and additional customs duty on import of cotton for the period of February 01 to June 30, 2019.
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Commerce ministry adds non-textile product to claim drawback
ISLAMABAD – The Ministry of Commerce has issued a corrigendum to SRO 711(I)/2018 dated June 08, 2018, expanding the scope of non-textile drawback of duty and taxes.
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