FBR exempts capital gain tax on sale of immovable properties

KARACHI: Federal Board of Revenue (FBR) has exempted capital gain tax on sale of immovable property under Tax Laws (Amendment) Ordinance, 2020. A new clause (114AA) has been inserted in Part I of the Second Schedule to the Ordinance, whereby exemption from tax on capital gains has been provided to a resident individual on sale […]

by Mrs. Anjum Shahnawaz

FBR issues procedure for sealing of transit cargo destined for India

Apr 26

Pakistan Customs

FBR issues procedure for sealing of transit cargo destined for India

KARACHI: Federal Board of Revenue (FBR) has issued procedure for sealing of transit trade cargo containers at Torkham-Peshawar and Chaman-Quetta, destined for Wahga border station for India. Following procedure to be adopted under Customs General Order (CGO) No. 03 of 2020 under Pakistan Customs Container Security System (PCCSS) Procedure for sealing and desealing of transshipment, […]

by Mrs. Anjum Shahnawaz

Sindh releases over Rs2 billion for coronavirus emergency funds

Apr 26

Finance, National

Sindh releases over Rs2 billion for coronavirus emergency funds

KARACHI: The Sindh government has released an amount of over Rs2 billion under coronavirus emergency fund, which included funds for filed isolation center and distribution of ration. According to details released by Sindh Finance Department regarding expenses issued date April 24, 2020 to dilute the economic impact of coronavirus and fight against the pandemic. The […]

by Mrs. Anjum Shahnawaz

NEPRA examines power audit report to secure consumers interest

Apr 26

Energy

NEPRA examines power audit report to secure consumers interest

ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has decided to examine the power sector audit report and said that it will take every step to secure consumers’ interest. In a statement issued on Saturday the regulator said that it is examining the recently released final Report by the Committee for power sector audit, circular debt […]

by Mrs. Anjum Shahnawaz

Think tank discusses viability of reducing GST to five percent

Apr 26

Finance

Think tank discusses viability of reducing GST to five percent

ISLAMABAD: The second meeting of think tank on Saturday discussed the viability of reducing General Sales Tax (GST) from existing 17 percent to five percent on consumer goods to kick start consumer spending. Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Sheikh chaired the 2nd meeting of the Thinktank, recently constituted […]

by Mrs. Anjum Shahnawaz