World Bank approves $518 million for Pakistan’s efforts to raise domestic revenue

ISLAMABAD: The World Bank on Friday approved a package of $518 million for two projects in support of Pakistan’s ambitious efforts to raise revenue and reduce compliance cost with a goal of... Read more »

World Bank helps Sarena Hotels to obtain global business certification for gender equality

ISLAMABAD: International Finance Commission (IFC), a member of the World Bank Group, is partnering with one of the largest hotel chains in South Asia, Serena Hotels Pakistan, to help it become the... Read more »

Massive cut in tax exemptions, concessions likely in budget 2019/2020

ISLAMABAD: The government has planned to a massive cut tax in exemptions and concessions in the budget 2019/2020, which is scheduled to be announced on June 11, 2019. Read more »

FBR to target large taxpayers for detailed field audit

ISLAMABAD: Federal Board of Revenue (FBR) to conduct tax audits of large taxpayers, who are selected through an automated risk-based tool. Read more »

FBR to reduce withholding tax provisions under World Bank program

ISLAMABAD: Federal Board of Revenue (FBR) is required to reduce number of withholding provisions to strengthen the income tax and take out this system from indirect taxes. Read more »

FBR is not organized revenue authority

ISLAMABAD: Federal Board of Revenue (FBR), unlike most revenue authorities in the world, is not organized along functional lines, nor does it have a clear hierarchical structure. Read more »

Monthly sales tax return filing main reason for Pakistan’s low ranking in paying taxes

ISLAMABAD: The requirement of filing monthly sales tax return is the main reason for Pakistan’s low ranking in the Paying Taxes Indicator of the World Bank. Read more »

Taxation not widely considered as civic duty in Pakistan

ISLAMABAD: The taxation has not been widely considered as civic duty in Pakistan, the World Bank said in a report issued recently. Read more »

Low property values causing huge tax losses in Pakistan

KARACHI: A large sum of tax revenue has been lost due to unrealistic declaration of property values at the time of transaction. Read more »

Prime Minister, World Bank CEO discuss economic, fiscal situation

ISLAMABAD: Prime Minister Imran Khan on Friday met Ms. Kristalina Georgieva, Chief Executive Officer (CEO) of the World Bank discussed economic and fiscal situation on the sidelines of the second Belt and... Read more »

Hafeez Shaikh, Illangovan discuss World Bank funded projects

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance, Revenue and Economic Affairs and the World Bank Country Director Patchamuthu Illangovan met on Monday to discuss ongoing projects funded by... Read more »

Higher duties create anti-export bias: World Bank highlights constraints to Pakistan’s exporters

KARACHI: World Bank has identified three main constraints that are directly affecting Pakistan exporters. These are the anti-export bias of its trade policy, the inadequate export promotion infrastructure, and an ambiguous regulatory... Read more »