Pak Navy, Customs confiscate huge cache of liquor
Pakistan Navy and Pakistan Customs successfully intercepted and confiscated a substantial quantity of foreign-origin smuggled liquor in a joint open-sea operation.
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Author: Mrs. Anjum Shahnawaz
Rules amended for sales tax de-registration
ISLAMABAD: The Federal Board of Revenue (FBR) has amended rules related to sales tax de-registration of a person or a company. The FBR issued SRO 51(I)/2022 dated January 13, 2022 to amend Sales Tax Rules, 2006. Rule 11 of the Sales Tax Rules, 2006 deals with de-registration. Under this rule, sub-rule (1) every registered person […]
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FBR terminates job of IRS officer on misconduct
ISLAMABAD: The Federal Board of Revenue (FBR) has terminated the job of BS-17 official of Inland Revenue Service (IRS) on the charges of misconduct. The FBR issued an office order on Friday to notify the major penalty of ‘dismissal from service’ upon the officer. READ MORE: Senior FBR auditor awarded ‘dismissal from service’ for corruption […]
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MoC invites tariff proposals for budget 2022/2023
The Ministry of Commerce (MoC) has opened the floor for budget proposals for the fiscal year 2022/2023, specifically focusing on potential changes in customs tariff rates.
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Supplementary bill aimed at documenting economy: Tarin
ISLAMABAD: The Finance (Supplementary) Bill, 2021 is aimed at documentation of economy instead generating revenue, Finance Minister Shaukat Tarin said on Thursday.
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NBP directed to pay Rs0.5 million to fraud victim
ISLAMABAD: The President of Pakistan, Dr Arif Alvi, has directed National Bank of Pakistan (NBP) pay Rs0.5 million to a victim of bank fraud. The president upheld the decision of the Banking Ombudsman and directed the NBP to pay Rs500,000 to the citizen who had been the victim of bank fraud at the hands of […]
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FBR invites customs proposals for budget 2022/2023
The Federal Board of Revenue (FBR) has initiated the process for the upcoming fiscal year’s budget by inviting customs-related proposals for the financial year 2022/2023 from various stakeholders, including business chambers and associations.
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IMF wants Pakistan to improve tax to GDP ratio to 20%
ISLAMABAD: Finance Minister Shaukat Tarin on Tuesday said the International Monetary Fund (IMF) wanted Pakistan to improve tax to GDP ratio to 20 per cent through structural changes. Improving tax to GDP ratio to 20 per cent from 9 per cent is in the benefit of the country, he added. Addressing to the interactive session […]
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PM Imran terms exports, tax collection must for growth
ISLAMABAD: Prime Minister Imran Khan Tuesday termed tax collection and exports key elements to boost the country’s economy. “The government was making strenuous efforts to remove all hurdles and bottlenecks faced by exporters, investors and businessmen and to give a spur to the exports industry,” the prime minister said while addressing at an inaugural ceremony […]
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Apex court suspends order in tax notices to overseas assets
The apex court of Pakistan has suspended the order of the higher court related to tax notices to Pakistanis for their overseas assets.
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