ISLAMABAD: Federal Board of Revenue (FBR) on Monday directed all the tax offices to cut the staff (BS-1 to BS-15) by 50 percent with immediate effect in the wake of resurgence of coronavirus. In a circular issued by the FBR, stated that due to resurgence of COVID-19 and keeping in view the NCOC decision, the […]
ISLAMABAD: Federal Board of Revenue (FBR) on Monday exempted customs duty, regulatory duty and additional customs duty on import of medical instruments and equipments for prevention and treatment of COVID pandemic. The FBR issued SRO 1251(I)/2020 dated November 23, 2020 to exempt whole of customs duty, regulatory duty and additional customs duty on import of […]
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved an amount of $150 million for the purchase of the COVID-19 vaccine. Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee of the Cabinet here at Islamabad. Minister for Industries and […]
KARACHI: Large Taxpayers Office (LTO) Karachi has taken measures to contain the resurgence of coronavirus. In this regard, an advisory has been issued for the staff of LTO Karachi with directives of strict implementation. Badaruddin Ahmed Qureshi, Chief Commissioner, LTO Karachi directed all divisions including audit, enforcement and legal of the tax office in order […]
ISLAMABAD: Federal Board of Revenue (FBR) has extended the utilization period of input goods under export facilitation schemes up to February 28, 2021 for all three schemes that are Manufacturing Bond, Export Oriented Units and Export Processing Zones, a statement said on Wednesday. A FBR spokesman said that this measure would ensure that the feared […]
ISLAMABAD: Federal Board of Revenue (FBR) has witnessed a sharp decline of 16 percent in revenue collection during four-month period (March – June 2020) as compared with same months of the last year due to halt of commercial and business activities due to lockdown imposed to prevent coronavirus pandemic. The FBR collected Rs1,258 billion during […]
KARACHI: Banks have approved around Rs126 billion under soft loan scheme to 2,068 businesses in meeting financing requirement for salaries and wages in the wake of difficulties faced due to coronavirus pandemic, State Bank of Pakistan (SBP) said on Monday. The SBP said that Under the Scheme, on overall basis, up till July 1, 2020, […]
KARACHI: The World Bank on Tuesday approved $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan strengthen fiscal management. A statement issued by The World Bank’s Board of Executive Directors approved today $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan […]
ISLAMABAD: Federal Board of Revenue (FBR) on Monday exempt duty and taxes on import of antiviral drugs for prevention of coronavirus. The FBR issued SRO 557(I)/2020 to exempt income tax on import of finished drug Remdesivir 100mg injection and injectable solution 100 mg vital. A new section 12D has been inserted to Section 148 of […]
ISLAMABAD: So far 30 officials of Federal Board of Revenue (FBR) have died of coronavirus, including a BS-22 officer of customs service. This was disclosed by FBR in a statement issued on Friday. It said that the FBR arranged a eulogy in remembrance of martyred officers and staff due to coronavirus / Covid-19. On this […]