SFA seals many breakfast eateries in Karachi

Mar 3

National

SFA seals many breakfast eateries in Karachi

KARACHI: Sindh Food Authority (SFA)has sealed many breakfast eateries in different districts of Karachi on Sunday.Director Operations, Sindh Food Authority Abrar and Deputy Director Imtiaz Abro along with his team inspected various big eateries. Names are as under: 1) Master broast2) Baithak peshawari3) Dera4) Handi Inn5) New Dil pasand The team found extreme unhygienic and […]

by Faisal Shahnawaz

MCC Port Qasim directs timely consignment clearance

Mar 3

Pakistan Customs, Taxation

MCC Port Qasim directs timely consignment clearance

KARACHI: Model Customs Collectorate (MCC) Port Muhammad Bin Qasim has directed all deputy and assistant collectors to ensure timely clearance of consignments. In a official memo issued to all deputy and assistant collectors, the Collector Port Qasim directed that ensure strict compliance to the directives issued by MCC Appraisement West Karachi. MCC Appraisement on October […]

by Faisal Shahnawaz

Three-year jail for person assisting tax evasion

Mar 3

Exclusive, Taxation

Three-year jail for person assisting tax evasion

KARACHI: A person is liable to three-year jail term for assisting tax evasion or motivating another person for commit tax offence under prevailing tax laws. FBR officials said that there are harsh punishments for various offences for tax evasion, concealment and deliberating non-compliance under Income Tax Ordinance, 2001. Section 199: Prosecution for abetment Where a […]

by Faisal Shahnawaz

Headline inflation rises by 8.2 percent in February

Mar 2

Finance

Headline inflation rises by 8.2 percent in February

ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.2 percent on year-on-year basis in February 2019 as compared to an increase of 7.2 percent in the previous month.

by Faisal Shahnawaz

Mar 2

Money & Banking

Rupee ends firmer in cash ready market

KARACHI: The Pak Rupee ended firmer against US dollar in cash ready market on Saturday. The buying and selling of dollar was recorded at Rs138.70/Rs139.20, the same previous day’s level, in open market. The rupee made significant recovery in the interbank market during the outgoing week. The Pak Rupee gained 29 paisas against dollar on […]

by Faisal Shahnawaz

Mar 2

Stock & Commodity

Weekly Review: Market likely to bounce back on easing Pak-India stand off

KARACHI: After witnessing decline the equity market likely to bounce back during next week after ease in stand off between Pakistan and India. Analysts at Arif Habib Limited hoped that the market to bounce back next week with tension between India and Pakistan to face a significant suppression following the release of the IAF pilot […]

by Faisal Shahnawaz

Two-year jail on deliberate non filing of return, statement

Mar 2

Exclusive, Taxation

Two-year jail on deliberate non filing of return, statement

KARACHI: Federal Board of Revenue (FBR) is going to invoke certain provisions of tax laws, including prosecution for non-compliance to return and statement filing, under which about two years jails suggested for failing in return filing. The FBR has launched a campaign for broadening the tax base and is identifying potential taxpayers as well as […]

by Faisal Shahnawaz

SPI inflation increases by 10.63 percent

Mar 2

Finance

SPI inflation increases by 10.63 percent

ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) has increased by 10.63 percent by the week ended February 28, 2019, as compared with the corresponding week a year ago, according to details released by the Pakistan Bureau of Statistics (PBS) on Friday. The weekly SPI with base 2007-08=100 covering 17 urban centers and 53 […]

by Faisal Shahnawaz

Customs valuation meeting at commerce division

Mar 2

Pakistan Customs, Taxation

Customs valuation meeting at commerce division

ISLAMABAD: A meeting on the Customs Valuation was held here on Friday in the Commerce Division with Abdul Razak Dawood, Prime Minister’s Advisor for Commerce & Textile, Industries & Production and Investment in chair. Member Customs, Dr. Jawad Owais Agha presented various aspects of Customs Valuation procedure in place and the issues of under invoicing. […]

by Faisal Shahnawaz

SRB suspends sales tax registration of Sharp Telecom

Mar 1

Exclusive, IT & Telecom, Taxation

SRB suspends sales tax registration of Sharp Telecom

The Sindh Revenue Board (SRB) has taken decisive action against M/s. Sharp Telecom (Pvt) Limited, suspending its sales tax registration due to failure in making timely payments and filing monthly returns, as per an official notice issued on Friday.

by Faisal Shahnawaz