Pakistan Revenue
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 […]
Continue Reading
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.
Continue Reading
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 […]
Continue Reading
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 […]
Continue Reading
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, […]
Continue Reading
KARACHI: Pakistan Customs has announce public auction of used motor vehicles and heavy bikes to be held on April 09, 2019 at Bay West, West Wharf Road, Karachi. Auction of fresh vehicles under schedule No. 04/ 2019 to be held on April 09, 2019: 01. Nissan Moco Car, Chassis No. MG33S-1434760, year 2014 02. Honda-N […]
Continue Reading
KARACHI: Pakistan Tax Bar Association (PTBA) has said that there should be accountability framework for tax officers in order to make audit transparent. Abdul Qadir Memon, President, PTBA in a message to PTBA Tax Journal outlined eight-point recommendations to tax authorities for making audit system more transparent in order to boost confidence of taxpayers on […]
Continue Reading
KARACHI: World Bank has projected lower GDP growth for Pakistan during two fiscal years i.e. 2018/2019 and 2019/2020 to 3.4 percent and 2.7 percent, respectively. The World Bank in a report released on Sunday, said that growth for Pakistan is projected to decelerate to 3.4 percent in FY19 and to 2.7 percent in FY20, as […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has issued notices to 350 senior bureaucrats of Sindh government for non-filing of income tax returns. The notices have been issued by Regional Tax Office (RTO) –II Karachi on identification of expenditures through various sources by those provincial government officers. The FBR sources said that these government officers had […]
Continue Reading
ISLAMABAD: Drug Regulatory Authority of Pakistan (DRAP) has taken notice of unauthorized increase in prices of medicines. In this regard the authority issued directives to pharmaceutical industries asking them to ensure maximum retail price (MRP). “Your are advised to monitor MRPs in the market and ensure that MRPs of drugs are not higher than the […]
Continue Reading