Pakistan Revenue
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that the digital mode of payment for corporate expenses would disrupt business transactions; because almost all sales in the country are made on credit and this credit is secured through ‘post-dated’ cheques issued by buyers in favor of the sellers. Mian Nasser Hayat […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has deferred the implementation of a digital mode of payment for one month. The digital mode of payment has been made mandatory for the corporate sector, which was to be implemented from November 01, 2021. The FBR issued Circular No. 09 of 2021-22 on Monday to allow an […]
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ISLAMABAD: The Federal Board of Revenue (FBR) is all set to apply a digital mode of payment from November 01, 2021, for corporate entities as one of the largest banks in the country reported a cyber security incident. The digital mode of payment has been made mandatory from November 01, 2021. The FBR has already […]
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Pakistan Tax Bar Association (PTBA) has demanded the Federal Board of Revenue (FBR) extend the implementation of digital mode of payment for corporate entities the system is not practical to use at present for many business entities. The digital mode of payment has been made mandatory from November 01, 2021. The FBR has already made […]
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KARACHI: Tax practitioners have said that implementing digital payments mode for corporate entities is not possible due to various difficulties. Karachi Tax Bar Association (KTBA) in a letter sent on Monday to the Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR), informed that a provision of digital payment was introduced through Tax Laws (Third […]
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KARACHI: The State Bank of Pakistan (SBP) has said that the digital payment continued upward trajectory during fiscal year 2020/2021. The SBP on Friday released its Annual Payment Systems Review (PSR) for the fiscal year 2020-21, which shows strong growth in the space of digital financial transactions in the country. According to the SBP, transactions […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that tax law has been amended to include mode of digital payment. To improve documentation, a new clause (la) has been inserted through Tax Laws (Third Amendment) Ordinance, 2021 in section 21 of the Income Tax Ordinance, 2001. Previously payments under a single head account exceeding […]
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KARACHI: State Bank of Pakistan (SBP) on Friday issued regulations for payment card security to curtail the risk of card-skimmig. Referring to PSD Circular No. 05 of 2016, the SBP said that in light of the progress made by industry on implementation of central bank’s instructions issued vide the afore-mentioned circular, it has now been […]
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KARACHI: The State Bank of Pakistan (SBP) on Thursday directed banks to facilitate taxpayers in their payments of duty and taxes through digital/electronic (e-payment) system.
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KARACHI: Haball, Pakistan’s leading B2B payments automation platform, in partnership with Meezan Bank – Pakistan’s first and largest Islamic bank, has recently announced the launch of Blink Direct, a service that will enable digital payments for Pakistani businesses and their supply chain partners. The new service will accelerate digital payments to payees while completely removing […]
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