The Economic Coordination Committee (ECC) of the Cabinet, chaired by Minister for Finance and Revenue Senator Mohammad Ishaq Dar, convened on Wednesday and approved the execution of the settlement agreement for the Roosevelt Hotel in New York.
(more…)Author: Mrs. Anjum Shahnawaz
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P@SHA demands immediate resumption of Internet services
Muhammad Zohaib Khan, Chairman of Pakistan Software Houses Association (P@SHA), has strongly criticized the abrupt and unconsulted blockage of internet services in the country amid the ongoing political situation.
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New petroleum prices to be announced by Pakistan on May 15, 2023
Pakistan is gearing up to announce new petroleum prices on May 15, 2023, for the second half of the current month. The decision comes in the midst of falling value of Pakistani Rupee (PKR) and declining trend in global oil prices.
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Former Pakistani Prime Minister Imran Khan Arrested
On May 9, 2023, former Pakistani Prime Minister Imran Khan was arrested by the National Accountability Bureau (NAB) on charges of corruption and misuse of authority during his tenure as the Prime Minister of Pakistan. Khan, who had been leading the country since 2018, stepped down in April 2022 after his government lost a vote of confidence in the National Assembly.
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Pakistan tightens rules on carnet de-passage to prevent misuse
The Federal Board of Revenue (FBR) – the apex tax agency of Pakistan – on Monday issued a new amendment, SRO 533 (I)/2023, aimed at preventing the misuse of carnet de-passage and temporary importation of vehicles by foreigners and expatriate Pakistanis.
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FBR launches evaluation to combat mis-Invoicing of imported goods
The Federal Board of Revenue (FBR) in Pakistan has launched an evaluation process to combat mis-invoicing of imported goods at customs clearance.
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Petroleum levy collection soars by 189% to Rs362 billion
The collection of petroleum levy in Pakistan has soared by 189 percent to Rs362.48 billion during first nine months (July – March) 2022-2023 as compared with Rs125.56 billion in corresponding months of the last fiscal year, official data revealed.
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Pakistan’s tax to GDP ratio declines to 6.7% in 9MFY23
Pakistan’s tax to GDP ratio has declined to 6.7 percent during first nine month (July – March) 2022-2023 as compared with 7.2 percent in the same period of the last fiscal year, official statistics revealed.
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IRS officers shuffled as FBR struggles to meet tax collection targets
The Federal Board of Revenue (FBR) Friday May 05, 2023 announced a major reshuffle of officers in the Inland Revenue Service (IRS) from BS-17 to BS-20, citing the need to improve tax collection efforts.
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FBR intensifies operations against sugar smuggling
The Federal Board of Revenue (FBR) is taking steps to prevent sugar smuggling and ensure sufficient availability in the domestic market.
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