Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) has been empowered for using third-party information to identify tax dodgers. The Medium-Term Economic Framework (MTEF), which was launched on Monday by the Finance Minister Asad Umar, the government had promulgated a law so as to allow FBR to access third-party data bases. The MTEF pointed out building data […]
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ISLAMABAD: The ministry of finance on Monday launched Medium-Term Economic Framework (MTEF), which envisaged that all permanent exemptions to be withdrawn or have a sunset clause. The MTEF said that presently tax policy has a predominant revenue focus and as such is likely to create distortions in the economy which can adversely affect the growth […]
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ISLAMABAD: The State Bank of Pakistan (SBP) to be given operation and institutional independence for bringing discipline in money market. According to ‘Medium-Term Economic Framework’ launched by Finance Minister Asad Umar on Monday, the government is considering giving the SBP greater operation and institutional independence to bring greater discipline in money market and exchange rate […]
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KARACHI: The equity market plunged by 600 points on Monday owing to reports of possible border confrontation between Pakistan and India. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,922 points as against 37,522 points showing a decline of 600 points. Analysts at Arif Habib Limited said that negative news flow over […]
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KARACHI: The Pak Rupee ended down by nine paisas against dollar on Monday after gaining value earlier in the day. The rupee ended Rs141.39 to the dollar from last Friday’s closing of Rs141.30 in interbank foreign exchange market. The interbank foreign exchange was initiated in the range of Rs141.10 and Rs141.20. The market recorded day […]
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ISLAMABAD: The government likely to introduce new tax amnesty scheme 2019 for undeclared foreign and local assets from next week. In this regard a briefing was give to Prime Minister Imran Khan on Monday. According to the sources the amnesty would be introduced from April 15, 2019 and will continue till June 30, 2019. The […]
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KARACHI: The number of active taxpayers has surged to 1.88 million for the tax year 2018 as of April 07, 2019, according to an official document released on Monday. This marks a significant increase from the previous year, reflecting a growing compliance among taxpayers in Pakistan.
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KARACHI: The Pak Rupee gained five paisas against dollar in early trade on Monday owing to monitoring by authorities for import payments. The dollar is being traded at Rs141.25 in interbank foreign exchange market. The foreign currency market was ended at Rs141.30 to the dollar on last Friday. Last week the State Bank of Pakistan […]
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KARACHI: Where an amount of tax unpaid in supply chain then registered buyer and seller are both responsible for paying to national exchequer. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 8A explained joint and several liability regarding unpaid tax. Section 8A: Joint and several liability of […]
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KARACHI: World Bank has identified three main constraints that are directly affecting Pakistan exporters. These are the anti-export bias of its trade policy, the inadequate export promotion infrastructure, and an ambiguous regulatory framework around FDI. The World Bank said that many factors affect competitiveness in Pakistan. These include, among others, high costs of doing business, […]
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