FBR issues broadening of tax base jurisdictions for Karachi

KARACHI: Federal Board of Revenue (FBR) has divided territorial jurisdictions of tax offices in order to identify potential taxpayers in Karachi city – the commercial hub of the country, FBR officials said... Read more »

SRB suspends sales tax registration of Chinese sanitation firm

KARACHI: Sindh Revenue Board (SRB) on Tuesday suspended sales tax registration of a Chinese sanitation firm for defaulting sales tax payment and failure to file monthly sales tax returns. Read more »

FBR sacks senior auditor on corruption charges

ISLAMABAD: Federal Board of Revenue (FBR) has sacked a senior tax auditor on the charges of corruption and misconduct. Read more »

FBR asks banks to provide details of government securities investment

ISLAMABAD: Federal Board of Revenue (FBR) has asked banks to provide details of additional investment made into the government securities during the tax year 2019. Read more »

Banking system witnesses massive withdrawal of Rs711 billion in July

KARACHI: The banking system has witnessed massive withdrawal of an amount around Rs711 billion during July 2019 after reaching record high deposits by end of June 2019. Read more »

General education not taxable under training services: SRB

KARACHI: Sindh Revenue Board (SRB) on Monday said that general education services are not taxable under ‘training services’ which is introduced through Sindh Finance Act, 2019. The provincial revenue authority issued clarification... Read more »

SBP sets maximum payment limits for board members of banks, DFIs

KARACHI: The State Bank of Pakistan (SBP) on Saturday amended Prudential Regulations G-1 and sets maximum limits for payment to board members of banks and Development Financial Institutions (DFIs). Read more »

Investment into premium prize bonds post 46pc growth

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has increased by over 46 percent as the government stopped the circulation of bearer bonds of same denomination and launched campaign to... Read more »

FBR notifies last date of payment, sales tax return filing by electricity, gas companies

ISLAMABAD: Federal Board of Revenue (FBR) has notified date for payment and filing monthly sales tax returns by electricity and gas distribution companies. Read more »

Investment in saving certificates rises by 19 percent to Rs2,217 billion

KARACHI: The investment in saving certificates has registered 19 percent growth to increase Rs2,217 billion in the last fiscal year owing to better rate of interest and safe investment avenue. Read more »

Pakistan cuts trade ties with India; notifications issued

ISLAMABAD: Pakistan has completely cut trade ties with India as the ministry of commerce issued notification for banning import and exports with the neighboring country. Read more »

SBP imposes penalty on four banks for violating AML/KYC

KARACHI: The State Bank of Pakistan (SBP) has imposed penalty of Rs184.64 million upon four commercial banks for violating laws related to Anti-Money Laundering (AML)/Know Your Customer (KYC). Read more »