May 6, 2024

Pkrevenue.com

Pakistan Revenue

Month: May 2020

Mandatory training courses for promotions to be completed through tele-teaching
May 28
Taxation

Mandatory training courses for promotions to be completed through tele-teaching

ISLAMABAD: The mandatory training courses for promotion of government officers including from Federal Board of Revenue (FBR) will be held online considering COVID-19 pandemic, a notification said. In this regard National School of Public Policy (NSPP) informed that all the courses of NSPP i.e. 112th National Management Course (NMC), 27th Senior Management Courses (SMC) and […]

by
Read More
Insurance should be excluded from taxable services
May 28
Budget 2020-2021, Taxation

Insurance should be excluded from taxable services

KARACHI: The provincial tax authorities have been urged to exclude insurance from taxable services in order to provide incentives to insurance industry. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021 submitted to Sindh Revenue Board (SRB), said that each year, the life/health insurance companies have been approaching the SRB […]

by
Read More
Banks timing revised
May 28
Money & Banking

Banks timing revised

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued revised banks timing from May 27, 2020 after Ramazan ul Mubarak. In a notification sent to president and chief executives of all banks, development finance institutions and microfinance banks, the SBP said that the central bank will observe the following office timings till further orders: Monday […]

by
Read More
Massive increase in penalty amount on the cards for violating tax laws
May 27
Budget 2020-2021, Taxation

Massive increase in penalty amount on the cards for violating tax laws

KARACHI: Tax authorities are considering to recommend massive rise in monetary penalty for violating general provisions of income tax laws. According to sources in Federal Board of Revenue (FBR), the Large Taxpayers Unit (LTU) Karachi had submitted its proposals for budget 2020/2021 and suggested increase in fine and penalties to Rs50,000 from present penal amount […]

by
Read More
Withholding sales tax should be exempted on services rendered to registered persons
May 27
Budget 2020-2021, Taxation

Withholding sales tax should be exempted on services rendered to registered persons

KARACHI: Sindh Revenue Board (SRB) has been proposed to exempt sales tax withholding in case a registered person renders services to another registered person. Withholding of sales tax from registered sales tax persons with Sindh Revenue Board (SRB), does not provide any benefit and only creates hardships for genuine taxpayers of reconciliations and delay in […]

by
Read More
Public auction of vehicles on June 04 at Gaddani
May 26
Auction

Public auction of vehicles on June 04 at Gaddani

KARACHI: Model Customs Collectorate (MCC) Gwadar announced public auction of confiscated vehicles to be held on June 04, 2020 at Custom House, Gaddani. Following vehicles will be presented for auction: BMW Car, Model 2002, Chassis No. WBAGL42020DD-78677 Toyota Land Cruiser, Model 1998, Chassis No. BJ-60-020679 Toyota Land Cruiser, Model 1991, Chassis No. HZJ-770002489 Toyota Land […]

by
Read More
Banks to open selected branches on May 27
May 26
Money & Banking

Banks to open selected branches on May 27

KARACHI: Banks likely to open selected branches on Wednesday, May 27, 2020 to facilitate their customers in wake of long holidays for Eid ul Fitr. It is pertinent to mention that the government announced six holidays for Eid-ul-Fitr from May 22 – 27, 2020 (Friday – Wednesday). Tomorrow i.e. Wednesday May 27, 2020 is the […]

by
Read More