Pakistan Revenue
KARACHI: State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs272 million on four commercial banks for violating regulatory instructions related to Know Your Customer (KYC) and AML/CFT. According to details of significant enforcement action by the central bank issued on Wednesday, the SBP imposed penalty on the four banks during first quarter […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) has imposed monetary penalty of Rs1.68 billion upon at least 15 commercial banks for violating various regulations including anti-money laundering (AML) and counter financing of terrorism (CFT). The SBP on Saturday released the data of significant enforcement actions by the central bank during March – June 2020. The top […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) has imposed monetary penalty to the tune of Rs1.35 billion on commercial banks in five months for violating regulatory environment. The central bank on Wednesday issued significant enforcement measures by imposing monetary penalty on banks for violating rules, regulations and other regulatory environment. The SBP imposed Rs192.66 million as […]
Continue Reading
KARACHI: The tax laws have defined both soft and harsh penalties for persons having taxable income or registered with tax authorities but failed to file their annual returns or file their returns after the due date. According to Income Tax Ordinance, 2001 updated up to June 30, 2019 issued by the Federal Board of Revenue […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) has imposed penalty to the tune of Rs1,123 million during first quarter (July – September) of current fiscal year 2019/2020 for violating rules and regulations.
Continue Reading
KARACHI: State Bank of Pakistan (SBP) has imposed penalty amounting Rs805.1 million on 10 banks for violating anti-money laundering, due diligence of customers and foreign exchange regulations during the month of August 2019. The central bank issued details on Friday about action taken by the SBP against banks in order to plug loopholes in the […]
Continue Reading
ISLAMABAD: Federal Board of Revenue (FBR) has imposed penalty on two customs intelligence officers and directed recovery from these officials of such government revenue lost due to their negligence. The FBR imposed penalty of stopping performance allowance for six months. The penalty has been imposed on Saifullah, Superintendent, Directorate of Intelligence & Investigation (Customs), Lahore […]
Continue Reading
ISLAMABAD: Federal Board of Revenue (FBR) has imposed penalty of withholding two annual increments on lady customs official for inefficiency and misconduct. The FBR said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Ms. Razia Sultana Bhutto, Principal Appraiser (under suspension), Model Customs Collectorate of Appraisement (West), Karachi through […]
Continue Reading
ISLAMABAD: Federal Board of Revenue (FBR) on Friday set-aside penalty imposed on four officials of Customs collectorate Quetta with future warning. The FBR Member Admin as appellate authority accepted the appeal of four customs officials of BS-16 including Muhammad Arif Dostani, Muhammad Arif, Ghulam Hussain Khoso, Saleem Akhtar, and set aside the minor penalty imposed […]
Continue Reading