Pakistan Revenue
ISLAMABAD: The Finance Division has issued a notification to implement the decision of the government to raise 10 per cent increase in pension to pensioners of the federal government. Prime Minister Shahbaz Sharif has sanctioned an increase of 10 per cent of net pension with effect from April 01, 2022 until further orders to all […]
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ISLAMABAD: The new government – formed by leading political parties – on Friday decided to keep the prices of petroleum products unchanged for next fortnight. The previous PTI government had decided to freeze the price of petrol at Rs150 per liter till June 30, 2022. Prime Minister Muhammad Shehbaz Sharif has rejected the Oil and […]
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ISLAMABAD: The Federal Board of Revenue (FBR) on Friday conducted fourth draw of invoices issued through Point of Sales (POS) and announced prize winners. According to the computerized balloting, the bumper prize of Rs1,000,000 has been awarded to Muhammad Ali on the invoice issued by Carefour. READ MORE: FBR announces winners of third POS invoice […]
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KARACHI: Faysal Bank Limited & TPL Life Insurance (Window Takaful Operations) have signed an agreement to take a step towards further strengthening their existing partnership and introduced a Women specific Takaful coverage proposition for Faysal Islami Amal Women’s Account holders which is best in class across the industry. READ MORE: SBP issues list of banks […]
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KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on April 13, 2022. Following are the latest KIBOR rates: Tenor BID OFFER 1 – Week 12.23 12.73 2 – Week 12.26 12.76 1 – Month 12.31 12.81 3 – Month 12.40 12.65 6 – Month 12.78 13.03 9 – Month 12.83 13.33 […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has initiated a number of initiatives to facilitate taxpayers during first half of the current fiscal year 2021/2022 (1HFY22). According to Mid-Year 2021/2022 progress report issued by the ministry of finance, the revenue agency had done its best to facilitate the taxpayers in order to create congenial environment […]
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ISLAMABAD: The full bench of Federal Shariat Court has reserved judgment in case of Riba free Islamic banking system in Pakistan, according to a statement issued on Tuesday. The full bench of the Court comprising of Justice Muhammad Noor Meskanzai Chief Justice, Justice Dr. Syed Muhammad Anwar and Justice Khadim Hussain M. Shaikh, in exercise […]
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ISLAMABAD: The Federal Board of Revenue (FBR) on Friday explained tax incentives granted for revival of sick industrial units. The FBR issued Circular No. 13 of 2022 dated April 07, 2022 to explain amendments to Income Tax Ordinance, 2001 brought through Income Tax Ordinance (Amendment) Ordinance, 2022. The FBR said that in order to initiate […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has explained tax amnesty granted on equity investment for already existing or new industrial under taking. The government has granted immunity from questioning of source of funds through Income Tax (Amendment) Ordinance, 2022. A new section 100F has been inserted to the Income Tax Ordinance, 2001 to give […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has restricted input adjustment for manufacturers of steel and oil and ghee. The FBR issued Sales Tax General Order (STGO) No. 12 of 2022 dated April 07, 2022, regarding input tax adjustment to manufacturers of oil and ghee and steel melters and re-rollers. Under the STGO, the sectors […]
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