May 6

FPCCI suggests amnesty for cryptocurrency declaration

KARACHI: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has recommended the government to launch an amnesty scheme of asset declaration for cryptocurrencies. The FPCCI, which is the apex trade body of the country, in a letter to Prime Minister Shahbaz Sharif suggested measures to improve foreign exchange reserves. READ MORE: FPCCI protests over […]

by Hamza Shah

IMF should not object to PM relief package: Tarin

Mar 10

Finance, National, Top stories

IMF should not object to PM relief package: Tarin

ISLAMABAD: Pakistan’s Finance Minister Shaukat Tarin on Wednesday said International Monetary Fund (IMF) should not object to the relief package announced by the prime minister as the country is generating own resources for the package besides increasing the revenue. The Finance Minister addressing a new conference here said negotiations have been held with the IMF […]

by Anjum Shah

FBR reviews tax incentives to construction industry

Sep 10

Taxation

FBR reviews tax incentives to construction industry

ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman of the Federal Board of Revenue (FBR) on Friday reviewed the progress made on the Prime Minister’s relief package for the construction industry. Member Inland Revenue (Policy) assisted by Chief IR Policy informed the Chairman that so far 1321 persons have registered themselves through the online system of FBR […]

by Anjum Shah

FBR allows filing tax amnesty declarations up to Sept 25

Sep 10

Taxation

FBR allows filing tax amnesty declarations up to Sept 25

ISLAMABAD: Federal Board of Revenue (FBR) on Friday allowed taxpayers to file declarations under amnesty scheme 2019 up to September 25, 2021. In this regard, the FBR issued Circular No. 6 of 2022 for relaxing in the filing of declaration under Asset Declaration Ordinance, 2019. The Asset Declaration Ordinance, 2019 was promulgated on May 14, […]

by Faisal Shah

Saigols of KTML disclose availing amnesty scheme

Sep 3

Corporate, Stock & Commodity, Taxation

Saigols of KTML disclose availing amnesty scheme

KARACHI: Kohinoor Textile Mills Limited (KTML) on Thursday shared information disclosing that its senior management has avail an amnesty scheme of undeclared foreign assets. A communication sent to Pakistan Stock Exchange (PSX) stated that the following shareholders of KTML informed that they had made to the Federal Board of Revenue (FBR) declarations of assets acquired/held […]

by Hamza Shah

Sep 2

Pakistan Customs, Taxation

FTO declares Car Amnesty Scheme illegal

ISLAMABAD: Federal Tax Ombudsman (FTO) has declared an amnesty scheme for customs clearance of stolen imported cars without legal action. Customs authorities’ decision about clearance of stolen imported cars under Transfer of Residence, Baggage Scheme or Gift Scheme upon payment of redemption fine and taxes without following any legal provision has been decleared illegal by […]

by Anjum Shah

ABAD seeks amnesty scheme extension for six months

Aug 1

Trade & Industry

ABAD seeks amnesty scheme extension for six months

KARACHI: Association of Builders and Developers (ABAD) has urged the government to extend the amnesty scheme for six months to document another Rs1 trillion. Fayyaz Ilyas, Chairman, ABAD, in a statement said that the investment in Construction Industry will double to Rs2 trillion if special construction package is extended at least for six months. Quoting […]

by Anjum Shah

Bill proposes date extension to amnesty for builders and developers

Jun 23

Taxation

Bill proposes date extension to amnesty for builders and developers

ISLAMABAD: The Finance Bill, 2021 has proposed to extend key dates for an amnesty to builders and developers who opt to pay tax computed under special provisions. KPMG Taseer Hadi & Co. Chartered Accountants said that the Finance Bill 2021 proposed to extend key dates for builders and developer who opt to pay tax computed […]

by Anjum Shah

Amnesty scheme should be extended for one year: ABAD

May 20

Taxation, Trade & Industry

Amnesty scheme should be extended for one year: ABAD

KARACHI: The Association of Builders and Developers (ABAD) has demanded the government of extending the amnesty scheme granted for boosting of construction sector. ABAD Chairman Fayyaz Ilyas in a statement demanded to extend amnesty scheme for real estate and construction industry by at least one year. He said that due to unprecedented situation created by […]

by Anjum Shah

FBR officials given access to declarations filed under amnesty scheme

Apr 4

Taxation

FBR officials given access to declarations filed under amnesty scheme

ISLAMABAD: The senior officials of the Federal Board of Revenue (FBR) have been authorized to access declarations of undisclosed income and assets under amnesty scheme of year 2019. The FBR issued SRO 369(I)/2021 to notify Assets Declaration Rules, 2021 dated March 31, 2021. Under rule 15 access has been authorized to declarations under the act […]

by Anjum Shah