ISLAMABAD: Federal Board of Revenue (FBR) has incurred loss of Rs55 billion due to restriction imposed by Supreme Court of Pakistan on collection of tax on phone services. The FBR in its year book 2018-2019, said that during the last fiscal year it had missed the revenue collection target by Rs321.5 billion due to various […]
ISLAMABAD: Federal Board of Revenue (FBR) has issued only Rs21.16 billion as sales tax refunds during last year which is 70 percent less than the preceding fiscal year. According to FBR’s Year Book 2018-2019, the revenue body had issued sales tax refunds amounting to Rs21.16 billion as against Rs70.5 billion in the preceding fiscal year, […]
KARACHI: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance and Revenue, on Saturday said that taxation system will not be improved without documentation of economy. He was addressing at a meeting with office bearers of Overseas Investors’ Chamber of Commerce and Industry (OICCI). He said that achieving economic growth was not possible without […]
KARACHI: The stock market to maintain upsurge in next week owing to foreign investors’ participation in local bond and equity markets. Analysts at Arif Habib Limited said that although the market may witness a temporary spell of consolidation, we expect the index to continue its upsurge going forward led by improvement in the macro-economic landscape. […]
ISLAMABAD: The revenue collection in 2018/2019 has witnessed negative growth after 51 years, according to year book released by Federal Board of Revenue (FBR). The historical revenue collection shows the tax collecting agency witnessed the negative growth in 1967/1968. Following is the historical revenue collection figures since 1948/1949: Rupees in million Year Total 1948-49 […]