NFC Meeting: Provinces to be made part of IMF dialogues on fiscal targets
ISLAMABAD: The provinces will be made part of ongoing dialogues with International Monetary Fund (IMF) regarding fiscal targets over medium term.
Cabinet decides independent audit to check inflated gas bills
ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Wednesday decided to conduct an independent audit to check inflated bills of gas.
100pc foreign shareholding allowed in legal entities incorporated in Pakistan: Razak Dawood
KARACHI: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, has said that 100 percent foreign shareholding remained allowed in legal entities incorporated in Pakistan.
Equity market ends down by 109 points on buying activities
KARACHI: The equity market fell by 109 points on Wednesday on buying activities in major scrips.
Rupee gains five paisas against US dollar
KARACHI: The Pak Rupee gained five paisas against US dollar on Wednesday owing to improved sentiments on expected foreign inflows.
FBR starts receiving real-time sales information from 2,574 outlets of textile, leather sectors
ISLAMABAD: Around 2,574 outlets of 75 units of textile and leather sectors have started real-time information of their sales to Federal Board of Revenue (FBR), a statement said on Wednesday.
Domestic oil sales plunge by 28.45pc in seven months
KARACHI: The domestic oil sales have dropped by 28.45 percent to 10.74 million tons during July – January 2018/2019 as compared with 15.01 million tons in the same period of the last fiscal year.
FBR releases 24pc less refunds in seven months amid huge collection shortfall
ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall.
US dollar eases in early trading
KARACHI: The US dollar eases in the interbank foreign exchange market in early trading on Wednesday. The exchange rate in the foreign currency market was at Rs138.25 to the dollar in early trading. The foreign…
Suppressed sales tax auditors and challenging revenue collection
KARACHI: Sales Tax / Value Added Tax (VAT) is the most significant source of tax collection in the world. Unlike direct tax it is known as tax on consumption and involves various…
Income Tax Ordinance 2001: Tax recovery due by non-resident member of AOP
KARACHI: Federal Board of Revenue (FBR) has powers to recover outstanding tax from a resident Association of Persons (AOP) in case tax due of a non-resident, who is member of such AOP. FBR recently updated…
Exchange rate losses increase public debt by Rs1,200 billion
ISLAMABAD: Exchange rate losses have increased the public debt by around Rs1,200 billion, according to Fiscal Policy Statement 2018-2019 released by the Ministry of Finance.