Tax Amendment Ordinance: major changes made to sales tax law

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued salient features of amendment to Sales Tax Act, 1990 made through Tax Law (Second Amendment) Ordinance, 2019. Read more »

Tax Amendment Ordinance: Salient features of changes introduced to income tax law

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued salient features of amendment to Income Tax Ordinance, 2001 made through Tax Law (Second Amendment) Ordinance, 2019. Read more »

Tax Amendment Ordinance: Customs officials empowered using firearms in the line of duty

ISLAMABAD: The government has authorized customs officials to use firearms in the line of duty to prevent smuggling and other illegal activities. Read more »

Tax Amendment Ordinance: 14-year jail, penalty of ten time of value for currency smuggling

ISLAMABAD: The government has introduced very harsh penalties for offence of currency smuggling. The government enhanced the jail term to 14 years for currency smuggling above $200,000 besides ten time of value... Read more »

Mini-budget implemented through presidential ordinance

ISLAMABAD: The government on Wednesday implemented a mini budget through a presidential ordinance making amendments to all duty and tax statutes. Read more »

Law allows fuel adjustment charges only for two months: industry

KARACHI: Industry has raised questions over decision by National Electric Power Regulatory Authority (NEPRA) to allow past four years fuel adjustment charges to K-Electric. Read more »

Gas shortage created purposely to force industry for RLNG: KCCI

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has said that the gas shortage in Sindh is created purposely to force industry to take RLNG. Read more »

Stock market gains 665 points to start year 2020

KARACHI: The stock market gained 665 points on Wednesday to start the year 2020. Read more »

Headline inflation increases by 12.6% in December 2019

ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has increased by 12.6 percent in December 2019 on Year on Year (YoY) basis. Pakistan Bureau of Statistics (PBS) on Wednesday said... Read more »

FBR drafts rules for risk based customs clearance

ISLAMABAD: Federal Board of Revenue (FBR) has drafted Risk Management System Rules for customs clearance of cargo to comply with Trade Facilitation Agreement (TFA) of World Trade Organization (WTO). Read more »

FBR implements duty exemption/concession under 2nd Phase Pak-China FTA

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued concessionary rates for 6,786 tariff lines for goods imported under Second Phase of Free Trade Agreement (FTA) between Pakistan and China. Read more »

POL prices increased up to Rs3.10/liter

ISLAMABAD: The government has increased the prices of petroleum products (POL) up to Rs3.10 per liter effective from January 01, 2020. Read more »