Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) has sacked a senior tax auditor on the charges of corruption and misconduct. In an office order issued on Tuesday, the FBR said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Mian Muhammad Ibrahim, Senior Auditor (BS-16) (under suspension), Regional Tax Office, Islamabad […]
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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.
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Pakistan’s banking system experienced a significant dip in deposits, with a massive withdrawal of approximately Rs711 billion in July 2019, following a record high in bank deposits by the end of June 2019.
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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 on the issued after receiving objections from the stakeholders for explaining the training services. The SRB said; “The general education services like pre-primary, […]
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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).
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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 document the economy. According to statistics released by State Bank of Pakistan (SBP) the total investment into premium prize bonds of Rs40,000 denomination […]
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ISLAMABAD: Federal Board of Revenue (FBR) has notified date for payment and filing monthly sales tax returns by electricity and gas distribution companies. The FBR amended Rule 18 of Sales Tax Rules, 2006 through SRO 918(I)/2019 dated August 07, 2019, under which registered persons are required to file monthly sales tax electronic returns. According to […]
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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. The data released by State Bank of Pakistan (SBP) revealed that the investment increased to Rs2,217 billion by June 2019 as compared with Rs1,865 billion […]
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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. The ministry of commerce on Friday issued SRO 927(I)/2019 and SRO 928(I)/2019 to impose ban on trade with India. Through SRO 927 (I)/2019, the ministry of commerce amended Import Policy […]
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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). The central bank on Thursday said that these penalty amount was imposed during the month of July 2019 against banks included: The Bank of Punjab; JS Bank […]
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