Pakistan Revenue
KARACHI: Pakistan Business Council (PBC) has suggested to omitting the condition of disallowing input tax adjustment where tax unpaid by supplier. In its tax proposals for budget 2019/2020, the PBC said that according to Section 8(1)(ca) of Sales Tax Act, 1990, input sales tax is not allowed where tax unpaid by supplier. “A taxpayer is […]
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KARACHI: SITE Association of Trade and Industry on Friday hailed the very first decision by Shabbar Zaidi after assuming the charge as the chairman of Federal Board of Revenue (FBR) regarding curtailing powers of tax officers in recovery cases. “First decision taken by the Chairman will restore confidence of tax filers on FBR,” Saleem Parekh, […]
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KARACHI: Overseas Pakistanis have sent remittances worth $17.875 billion during first ten months (July – April) 2018/2019, which is 8.45 percent higher when compared with remittances in the same period of the last fiscal year, State Bank of Pakistan (SBP) said on Friday. Overseas Pakistani workers remitted $17.875 billion in the first ten months (July […]
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ISLAMABAD: The federal government has assigned additional charge of secretary revenue division to Muhammad Younus Dagha, who is already serving as Secretary Finance. A notification issued on Friday by Establishment Division stated that Mohammad Younus Dagha, a BS-22 officer of Pakistan Administrative Service, presently serving as Secretary Finance Division, is assigned additional charge of the […]
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ISLAMABAD: Shabbar Zaidi, the newly appointed Chairman of the Federal Board of Revenue (FBR), has made a swift impact by issuing new directives aimed at improving transparency and taxpayer relations. In his first major move after assuming office, Zaidi directed that no taxpayer’s bank account would be frozen without prior notice, ensuring that taxpayers are […]
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ISLAMABAD: Federal Board of Revenue (FBR) has imposed penalty of withholding two annual increments on lady customs official for inefficiency and misconduct. The FBR said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Ms. Razia Sultana Bhutto, Principal Appraiser (under suspension), Model Customs Collectorate of Appraisement (West), Karachi through […]
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KARACHI: The equity market fell by 171 points on Friday owing to reports of IMF deal and its repercussions on cost of doing business.
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KARACHI: The Pak Rupee fell by one paisa against dollar on Friday amid sufficient inflows of export receipts and remittances. The rupee ended Rs141.40 to the dollar from previous day’s closing of Rs141.39 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.34 and Rs141.37. The market recorded […]
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KARACHI: Federal Board of Revenue (FBR) has been proposed for imposing digital tax at 30 percent in the budget 2019/2020. Chartered Accountants have suggested the imposition of digital tax from next tax year as OECD had started thinking of appropriately taxing the digitalized economy. Institute of Chartered Accountants of Pakistan (ICAP) in its budget proposals […]
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KARACHI: Model Customs Collectorate (MCC) Appraisement East announced auction of fresh lots of goods and vehicles to be held on May 13, 2019 at Pak Shaheen Container Terminal. Following goods and vehicles to be presented for the auction: 01. NISSAN SERENA, CHASSIS NO : HC26-077494, MODEL: 2013 02. DAIHATSU COCOA CAR, MODEL: 2016, CHASSIS NO: […]
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