PTBA demands probe into fake FBR’s date extension letters

LAHORE: Pakistan Tax Bar Association (PTBA) has approached law enforcement agencies to probe circulation of fake/forged circulars related to date extension in income tax return filing. The PTBA – the apex trade body of the country – in an application for lodging FIR against culprits on Saturday informed Federal Investigation Agency (FIA) about the circulation […]

by Mrs. Anjum Shahnawaz

Jan 4

Stock & Commodity

Weekly Review: Equity market to move with escalating Middle East tension

KARACHI: The stock market likely to move with the development in mounting tension in the Middle East following killing of Iranian leader in US air strike. Analysts at Arif Habib Limited said that market to remain in the green zone next week. Oil scrips may manage to attract the limelight following renewed tension in the […]

by Mrs. Anjum Shahnawaz

FBR empowered for closure of automatic audit selection

Jan 4

Taxation

FBR empowered for closure of automatic audit selection

ISLAMABAD: Federal Board of Revenue (FBR) has been empowered to conclude cases which were automatic selected for audit. The recently promulgated Tax Laws (Second Amendment) Ordinance, 2019 empowered the FBR to issue procedure to conclude cases that were automatically selected for audit. In its commentary, PwC A F Ferguson Chartered Accountants said that through the […]

by Mrs. Anjum Shahnawaz

Massive tax relief announced for foreign investment in debt securities

Jan 4

Taxation

Massive tax relief announced for foreign investment in debt securities

KARACHI: The government has announced massive tax relief to foreign investment in debt securities considering the attractive environment due to higher interest rate in the country. The foreign investment in domestic debt market including government securities including Market Treasury Bills and Pakistan Investment Bonds, is around $1.5 billion during first six month (July – December) […]

by Mrs. Anjum Shahnawaz