A special judge may award imprisonment up to three years to a person who defaulted sales tax payment despite an opportunity from the tax authorities to pay the amount under Section 3, Section 6, Section 7 and Section 48 of the Sales Tax Act, 1990.
Section 33(4) of the Sales Tax Act, 1990 has revealed penalty for failure to notify changes in registration details by taxpayers.
ISLAMABAD: Pakistan has banned foreign travel from six South African countries and Hong Kong due to the emergence of a new coronavirus variant namely ‘Omicron’. Minister for Planning, Development and Special Initiatives Asad Umar in his Tweet said: “Based on the emergence of the new Covid variant, notification has been issued restrict travel from 6 […]
The Federal Board of Revenue (FBR) has intensified efforts to curb unauthorized practices in the realm of sales tax by implementing penalties for the unauthorized issuance of sales tax invoices.
Section 33(2) of the Sales Tax Act, 1990 has imposed a penalty on taxpayers for non issuance of sales tax invoice to buyers of goods or services.
The Federal Board of Revenue (FBR) has introduced penalty for failure to file sales tax returns within the stipulated timeframe under Section 33(1) of the Sales Tax Act, 1990.
KARACHI: The stock market is likely to stay positive during next week owing to the expected transfer of $3 billion from Saudi Arabia. Analysts at Arif Habib Limited said that the market to show positivity in the upcoming week is attributable to support from Saudi Arabia in terms of safe deposits of $3 billion in […]
Central Depository Company
KARACHI: Shaukat Tarin, Advisor to Prime Minister on Finance and Revenue, on Friday inaugurated the first Professional Clearing Member (PCM) at CDC House, Karachi. Speaking at the occasion, Shaukat Tarin said: “It is the top priority of our Government to facilitate businesses and improve ease of doing business environment. “This initiative of Professional Clearing Member […]
KARACHI: foodpanda has exhibited Pandafly drone at the Pakistan Pavilion in Dubai expo. foodpanda Pakistan’s leading food delivery company and is also the largest e-commerce platform. The event is a testament to foodpanda’s commitment to grow and innovate through adoption of disruptive technology, as well as showcase the tremendous support and an enabling environment offered […]
KARACHI: Bulls return to the stock market which gained 178 points on Friday ending a 4-day losing streak. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 44,114 points against 43,936 points showing an increase of 178.4 points. Analysts at Arif Habib Limited said that the battle between bulls and bears was […]