Revenue collection plunges by 16 percent during March-June COVID lockdown

Sep 22

Taxation

Revenue collection plunges by 16 percent during March-June COVID lockdown

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 […]

by Mrs. Anjum Shahnawaz

Banks approve financing of Rs126bn for employees’ wages of 2,068 businesses

Jul 28

Money & Banking

Banks approve financing of Rs126bn for employees’ wages of 2,068 businesses

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, […]

by Mrs. Anjum Shahnawaz

World Bank approves $500 million to help Pakistan strengthening fiscal management

Jun 30

Finance

World Bank approves $500 million to help Pakistan strengthening fiscal management

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 […]

by Mrs. Anjum Shahnawaz

FBR exempts duty, taxes on import of Remdesivir

Jun 22

Taxation

FBR exempts duty, taxes on import of Remdesivir

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 […]

by Mrs. Anjum Shahnawaz

So far 30 FBR officials die of coronavirus

Jun 19

Taxation

So far 30 FBR officials die of coronavirus

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 […]

by Mrs. Anjum Shahnawaz

FBR exempts sales tax on import of 61 medical equipments

Jun 19

Taxation

FBR exempts sales tax on import of 61 medical equipments

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced sales tax exemption on import of 61 medical equipments, which are important to fight against COVID-19. The FBR issued SRO 555(I)/2020 to grant exemption on the medical equipments for a period of three months. Previously, the FBR granted exemption on various medical equipments through SRO 237(I)/2020 […]

by Mrs. Anjum Shahnawaz

Ban lifted on export of various personal protective equipment

Jun 10

National

Ban lifted on export of various personal protective equipment

ISLAMABAD: The government on Tuesday lifted ban on export of various personal protective equipment (PPE) with immediate effect. The ministry of commerce issued SRO 526(I)/2020 to amend the Export Policy Order, 2016. The ministry allowed the export of PPE including disposable gowns, disposable gloves, face shields, biohazard bags, goggles, shoe cover and hand sanitizers. The […]

by Faisal Shahnawaz

Jun 9

Budget 2020-2021

Budget 2020/2021 to focus on mitigating COVID-19 impact

KARACHI: The government may focus supportive measures in the upcoming budget 2020/2021 in order to reduce the impact COVID-19, analysts said on Tuesday. Analysts at Arif Habib Limited highlighted the blueprint of the FY21 Budget whereby the key objective of the government is the revival and stabilization of the economy after being pinned down from […]

by Mrs. Anjum Shahnawaz

FBR pays homage to officials die of COVID-19

Jun 9

Taxation

FBR pays homage to officials die of COVID-19

ISLAMABAD: Federal Board of Revenue (FBR) has paid homage to officials who died of coronavirus in the line of duty. The FBR in a statement on Monday paid homage to all its employees who died in the line of duty due to outbreak of Covid-19 and heartily condoled with their bereaved families. FBR appreciates the […]

by Mrs. Anjum Shahnawaz

COVID-19 claims four more taxmen as IR offices open on Saturdays

Jun 7

Taxation

COVID-19 claims four more taxmen as IR offices open on Saturdays

KARACHI: Four more officials of Inland Revenue have died of COVID-19 as field offices of Federal Board of Revenue (FBR) were remained opened on Saturday. The offices of Federal Board of Revenue (FBR) were remained opened on Saturday as four more officials of Inland Revenue died of coronavirus, sources said. The officers were posted at […]

by Mrs. Anjum Shahnawaz