Pakistan Revenue
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 […]
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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 […]
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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 […]
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KARACHI: The equity market likely to stay positive in coming weeks as the expected staff level meeting of IMF is scheduled in April 2019. Analysts at Arif Habib Limited said that this will revive the market sentiment. Moreover, interest rate is expected to peak following another 50 basis points hike in May 2019; which will […]
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KARACHI: A sales tax registered person is allowed to deduct input tax against output tax for determination of taxable supplies made during a period. According to updated Sales Tax Act 1990 issued by Federal Board of Revenue (FBR), Section 7 explained the procedure of deduction of input tax by sales tax registered persons. Section 7: […]
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KARACHI: Federal Board of Revenue (FBR) has selected sales tax audit of those sales tax registered persons whose refund claims increased in a month over the corresponding month last year. According to risk parameters for selection of audit under Audit Policy 2018, the FBR selected audit cases through computerized balloting of those registered persons whose […]
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KARACHI: Karachi Tax Bar Association (KTBA) has asked Federal Board of Revenue (FBR) to issue clarification regarding filing withholding tax statement following amendment made through Finance Supplementary (Second Amendment) Act, 2019.
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KARACHI: Foreign exchange companies have decided to stop sale of dollars except for needy customers for education, health and Hajj, said Malik Bostan, President, Forex Association of Pakistan (FAP) on Friday. The representatives of FAP today again held a meeting with Syed Irfan Ali Shah, Executive Director of State Bank of Pakistan (SBP) to discuss […]
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KARACHI: Federation of Chambers of Commerce and Industry (FPCCI) has advised the government that the second phase of Pak-China Free Trade Agreement (FTA) should not be at the cost of local industry. FPCCI President Engr. Daroo Khan Achakzai, while chairing session on Pak-China FTA, advised that Pakistan may enter into second phase of FTA with […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified promotions of Superintendents, Principal Appraiser, and Superintendent Preventive of Customs Department are promoted to the post of Assistant Collector (BS-17) in Pakistan Customs Service (PCS) with immediate effect and until further orders. The promotions of following officers of PCS have been notified: 01. Nadeem Ahmad, Superintendent, […]
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