FBR penalizes two BS-18 officers for inefficiency, misconduct

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday imposed penalty upon two officers of Inland Revenue Service (IRS) for inefficiency and misconduct. In two different notices issued by the FBR the penalty... Read more »

FBR appoints 49 IR Inspectors to strengthen field force

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday appointed 49 inspectors (BS-16) in Inland Revenue in order to strengthen the field force of tax offices. 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 »

Stock market ends down by 237 points on IMF talks

KARACHI: The stock market ended down by 237 points on Thursday as bearish trend prevailed over IMF talks and forthcoming budget. Read more »

Rupee gains 10 paisas in interbank

KARACHI: The Pak Rupee has gained 10 paisas against dollar on Thursday in interbank foreign exchange market owing to inflows of remittances and export receipts. Read more »

SBP extends IRFS 16 implementation to June 30

KARACHI: State Bank of Pakistan (SBP) has extended the date for implementation of IRFS 16 for banks, development financial institutions (DFIs) and microfinance banks (MFBs) to June 30, 2019. Read more »

Headline inflation increases by 8.8 percent in April 2019

ISLAMABAD: The headline inflation has surged by 8.8 percent on year on year (YoY) in April 2019 as compared to an increase of 9.4 percent in previous month and 3.7 percent in... Read more »

Sales Tax Act 1990: Vast recovery powers of IR officers

KARACHI: The officers of Inland Revenue have vast powers under sales tax laws to recover outstanding amount from taxpayers. Read more »

FBR may proceed for sales tax blacklisting of M/s. Hascol Petroleum Limited

KARACHI: Federal Board of Revenue (FBR) will start proceeding to blacklist a major oil marketing company after suspending this week for non-compliance and suppressing sales to evade taxes. Read more »

MCC Gwadar announces auction of confiscated vehicles on May 04

KARACHI: Model Customs Collectorate (MCC) Gwadar has announced auction of confiscated vehicles to be held on May 04, 2019 at Custom House Gwadar. Read more »