In a significant development, the Federal Board of Revenue (FBR) has withdrawn penalties imposed on seven customs officials, in compliance with judgments from the Federal Service Tribunal (FST) and the Supreme Court of Pakistan.
(more…)Author: Mrs. Anjum Shahnawaz
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Banking deposits decline to Rs13.057 trillion by January 2019
The deposits in Pakistan’s banking system witnessed a decline of 2.22 percent, totaling Rs13.057 trillion by the end of January 2019, as compared to Rs13.35 trillion recorded on December 31, 2018.
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Shah Muhammad posted as Member Admin
The Federal Board of Revenue (FBR) has undergone a strategic administrative reshuffle with the appointment of Shah Muhammad, a distinguished officer of the Inland Revenue Service (IRS) BS-21, as the new Member Administration at FBR Headquarters.
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Remittances grow by 12.22pc to $12.77 bn in seven months
KARACHI, February 12, 2019 – In a testament to the enduring support from overseas Pakistanis, remittances to the country have experienced a remarkable surge, witnessing a robust 12.22 percent increase to reach $12.774 billion during the first seven months of the fiscal year 2018/2019.
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Prices of essential items rise by 13.74 percent for income group above Rs35,000
Islamabad – The prices of essential items have witnessed a significant increase of 13.74 percent for the income group above Rs35,000 for the week ending February 07, 2019, compared to the corresponding week a year ago, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.
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Rupee depreciates by 40 paisas against dollar in early trading
Karachi – The Pakistani Rupee faced a depreciation of 40 paisas against the US dollar in early trade on Monday, influenced by heightened demand following the weekly holidays.
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FBR assigns officers for directorate immovable properties
ISLAMABAD: Federal Board of Revenue (FBR) has assigned officers of Inland Revenue Service (IRS) for the duties to make operational the directorate of immovable properties.
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IMF ready to support Pakistan: Christine Lagarde
KARACHI: International Monetary Fund (IMF) is ready to support Pakistan in a difficult economic situation, Christine Lagarde, Managing Director of IMF said on Sunday after meeting with Pakistan’s Prime Minister Imran Khan.
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Income Tax Ordinance 2001: Computation of profits, gains from exploration, production of petroleum
KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan.
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Customs Valuation under Customs Act, 1969 – Urdu version
KARACHI: In a move aimed at enhancing accessibility and understanding of customs laws among taxpayers, Pakistan Customs has issued an Urdu version of customs valuation under the Customs Act, 1969.
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