Pakistan Revenue
ISLAMABAD: The tall claims of present ruling party for bringing back looted money into the kitty are fading away as the PTI government is introducing a tax amnesty for looter and plunderers. Finance Minister Asad Umar on Tuesday confirmed that the PTI government is going to announce new tax amnesty for undeclared foreign and domestic […]
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KARACHI: The rupee depreciated by 21 paisas against dollar on Tuesday owing to hike in policy rate and petroleum products. The rupee ended Rs141.10 to the dollar from last Friday’s close of Rs140.89 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs140.90 and Rs140.95. The market recorded […]
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KARACHI: The sales of High Speed Diesel (HSD) have declined to decade low due to slowdown in economy, analysts said on Tuesday. In July – March 2018/2019, HSD sales decline (-20 percent YoY in 9MFY19) touched over decade low due to slowdown in economy. While Motor Spirit (MS or Petrol) growth remained limited to 1 […]
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KARACHI: United Bank Limited (UBL) has decided to sale of its Tanzania operation at the sale price of $3.96 million to Exim Bank Tanzania Limited. It was decided at the the Annual General Meeting of UBL, which has approved winding up UBL Bank (Tanzania) Limited after accepting letter of intent from Exim Bank Tanzania Limited […]
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KARACHI: The Pak Rupee depreciates by 16 paisas against US dollar in early trade on Tuesday owing to reports of IMF conditionalities for new loan program. The dollar is being traded at Rs141.05in interbank foreign exchange market. The foreign currency market was closed yesterday at Rs140.89 to the dollar. The local currency was showing declining […]
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KARACHI: A person is required to pay sales tax, which was collected under misapprehension of any provision of the act and was not collectable or in excess of tax. The FBR recently updated Sales Tax Act, 1990 and its Section 3B explained the collection of excess sales tax. Section 3B: Collection of excess sales tax […]
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In a significant move to combat Benami transactions, the Federal Board of Revenue (FBR) has announced the establishment of three dedicated zones in major cities across the country.
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ISLAMABAD: Prime Minister Imran Khan on Monday directed interior ministry and all provincial governments to ensure security and availability of commodities during the holy month of Ramzan. In a letter addressed to Ministry of Interior and Chief Secretaries of all provincial governments including AJ&K and Gilgit Baltistan, the Prime Minister directed that coordination meetings with […]
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KARACHI: Pakistan Customs has surpassed the target by collecting Rs510.11 billion as duty during July – March 2018/2019, said a statement on Monday. The target for collection of customs duty for the first nine months was Rs509.3 billion. The duty collection during July – March 2018/2019 is higher 19.2 percent when compared with Rs482 billion […]
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ISLAMABAD: President of Pakistan Dr. Arif Alvi has praised the role of Federal Tax Ombudsman (FTO) for resolution of aggrieved taxpayers’ complaints. The president said this while talking to Federal Tax Ombudsman, Mushtaq Ahmad Sukhera, who called on him at Aiwan-i-Sadr on Monday. FTO also presented the annual report (2018) to the President. The President […]
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