April 26, 2024

Pkrevenue.com

Pakistan Revenue

Day: May 11, 2019

Around 98pc offshore drilling near Karachi coast completes; nation to get good news in two weeks: Ali Zaidi
May 11
National, Ports and Shipping

Around 98pc offshore drilling near Karachi coast completes; nation to get good news in two weeks: Ali Zaidi

KARACHI: The joint venture of foreign and local companies has completed around 98 percent drilling near Karachi coast for the possible discovery of huge reservoirs of oil and gas, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi said on Saturday. The joint venture including ExxonMobil, ENI, PPL and OGDC is undertaking offshore drilling near […]

by
Read More
Customs recovers Rs450 million illicit currency, arrests 30 percent in anti-money laundering drive
May 11
Pakistan Customs, Taxation

Customs recovers Rs450 million illicit currency, arrests 30 percent in anti-money laundering drive

ISLAMABAD: Pakistan Customs (Operation) has taken vigorous actions to counter illicit movement of currency, which is the primary tool used for money laundering and moving proceeds of crime in and out of the country, a statement said on Saturday. The current lead taken by Customs Operations FBR, and the effective control measures implemented by enforcement […]

by
Read More
Karachi Chamber welcomes restricting FBR officers for freezing taxpayers’ bank accounts
May 11
Trade & Industry

Karachi Chamber welcomes restricting FBR officers for freezing taxpayers’ bank accounts

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has warmly welcomed the first order issued by the newly appointed Chairman Federal Board of Revenue (FBR) Shabbar Zaidi immediately after assuming charge in which all the Commissioners Inland Revenue have been barred from freezing bank accounts which was being demanded by KCCI since long. President KCCI […]

by
Read More
PTBA assures full support to new FBR chairman
May 11
Taxation

PTBA assures full support to new FBR chairman

KARACHI: Pakistan Tax Bar Association (PTBA) has assured full support to Syed Muhammad Shabbar Zaidi, newly appointed chairman of Federal Board of Revenue (FBR). In a statement issued on Saturday PTBA welcomed the appointment of Shabbar Zaidi as chairman of Federal Board of Revenue (FBR). The tax bar declared the appointment of Shabbar Zaidi as […]

by
Read More
Omitting condition on input sales tax claim proposed where tax unpaid by supplier
May 11
2019-2020, Budget, Trade & Industry

Omitting condition on input sales tax claim proposed where tax unpaid by supplier

KARACHI: Pakistan Business Council (PBC) has suggested to omitting the condition of disallowing input tax adjustment where tax unpaid by supplier. In its tax proposals for budget 2019/2020, the PBC said that according to Section 8(1)(ca) of Sales Tax Act, 1990, input sales tax is not allowed where tax unpaid by supplier. “A taxpayer is […]

by
Read More