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Taxation

Parliament empowered to approve, amend or repeal ADO, 2019: FBR

June 24, 2019

Federal Board of Revenue (FBR) has observed that it is now the prerogative of the Parliament to approve, amend or repeal the Assets Declaration Ordina...

Taxation

FBR proposes enhanced value for immovable properties in 18 cities

June 24, 2019

The Federal Board of Revenue (FBR) has proposed enhanced values of immovable properties in 18 cities except Karachi and Quetta. According to the FBR, ...

Taxation

Non-filers own over 13,000 luxurious vehicles in Karachi

June 22, 2019

Over 13000 luxurious vehicles having engine capacity 2400cc and above are owned by unregistered persons (non-filers) in Karachi. Chief Commissioner, R...

Uncategorized

Light rain turns weather pleasant in Karachi

June 22, 2019

An unexpected spell of light rain in different areas of Karachi on Friday night turned the weather pleasant but also troubled people as it caused powe...

Taxation

Non-filers enabled to access details of their assets: information

June 21, 2019

The information of five to six million people, specifically non-filers of income tax returns, would be available on the web-portal of the Federal Boar...

Taxation

FBR seeking powers to conduct audit of banks

June 21, 2019

The Federal Board of Revenue (FBR) is seeking powers under the Finance Bill 2019 to conduct audit of income tax affairs of banks, examine their accoun...

Business

Gold hits new peak of Rs77,300

June 21, 2019

KARACHI: Local gold prices touched an all-time high of Rs77,300 and Rs66,272 per tola and 10-gram, respectively, after international rates soared to f...

Taxation

KPRA given Rs 20 billion tax collection target

June 20, 2019

Khyber Pakhtunkhwa Revenue Authority (KPRA) has been given a tax collection target of Rs 20 billion for financial year 2019-20. The authority is highl...

Taxation

No extension in last date of amnesty scheme: Hammad

June 20, 2019

Minister for State on Revenue Hammad Azhar said Wednesday that the government would not extend the last date of amnesty scheme i.e. June 30, 2019 due ...

Taxation

Government may impose GST, IT on electricity bills

June 19, 2019

The government is likely to impose 17% GST and 5% income tax in the electricity bills which, coupled with Rs 1.5 per kWh increase in tariff, would hav...

Taxation

Banks provide necessary information to FBR

June 18, 2019

The Federal Board of Revenue (FBR) announced Monday that all banks have cooperated with the FBR and provided necessary information of the account hold...

Taxation

Amendments proposed in ST & FED discussed

June 17, 2019

The second session of Post Budget Conference 2019 held at a local hotel, which covered the topic of indirect taxation with main speaker Asim Zulfiqar ...

Taxation

Punjab approaches CCI for getting Rs 950 million refunded from FBR

June 17, 2019

Punjab government has knocked the doors of Council of Common Interests (CCI) to get back about Rs 950 million from Federal Board of Revenue (FBR) coll...

Taxation

Businesses should drive tax policies in country: experts

June 15, 2019

Businesses should drive the tax policies instead of tax driven business activities in the country. These views were expressed by the experts who spoke...

Taxation

FBR takes action against over and under invoicing of export items

June 15, 2019

The Chairman FBR, Shabbar Zaidi has directed to identify the extent of mis-invoicing in export declarations in order to ascertain the suspected items ...

Taxation

Rs 52.73 billion budgeted from 3G licences for FY-20

June 14, 2019

The government has budgeted Rs 52.73 billion from 3G licences under the head of non-tax revenue for the next fiscal year 2019-20 against Rs 6.854 bill...

Taxation

Illegal transfer of funds: Mis-declaration of value declared serious offence

June 13, 2019

The chairman Federal Board of Revenue (FBR) Shabbar Zaidi said on Wednesday that mis-declaration of value for illegal transfer of funds abroad has bee...

Uncategorized

Govt employees get 5 to 10pc hike in salaries, 10pc in pension

June 12, 2019

ISLAMABAD: The Budget 2019-2020 has proposed 10 percent increase as ad hoc relief in the salaries of civilian and military employees from grade 1 to 1...

Taxation

New taxes, duties, exemptions withdrawal to fetch Rs600 bn

June 12, 2019

ISLAMABAD: The government announced additional tax rises worth Rs600 billion on Tuesday, including levies on salaried persons and consumable goods, wi...

Uncategorized

Curtain Raiser: Budget 2019-2020 to test government’s will

June 11, 2019

ISLAMABAD: The government is unveiling Budget 2019-20 in parliament today with an expected outlay of Rs6.6 trillion, demonstrating its political will ...

Taxation

New assignments in FBR

June 11, 2019

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has appointed Dr Hamid-Ateeq Sarwar Member Inland Revenue Policy as Chief Coordinator for succes...

Taxation

Finance Bill to introduce key tax reforms

June 10, 2019

Finance Bill (2019-20) will introduce key tax reforms for facilitation of taxpayers and promote transparency within the tax machinery of the Federal B...

Taxation

‘Hurry up!’: G20 urged to speed up digital tax

June 10, 2019

Top G20 finance officials agreed Saturday there was an urgent need to find a global system to tax internet giants like Google and Facebook but clashed...

Taxation

Punjab E&T department to facilitate taxpayers through app: minister

June 3, 2019

Provincial Excise and Taxation (E&T) Minister Hafiz Mumtaz Ahmad has said E&T department had prepared a well-knitted plan for introducing mobi...

Taxation

Benami accounts: CFOs of banks meet FBR chief

May 31, 2019

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi called a meeting of Chief Financial Officers (CFOs) of banks here at FBR House and discussed pro...

Taxation

Assets Declaration Scheme FBR urges missions aboard to lend a helping hand

May 31, 2019

The Federal Board of Revenue (FBR) has asked the Ministry of Foreign Affairs to advise Pakistani missions aboard to adopt the Assets Declaration Schem...

Taxation

Government mulling abolishing number of withholding taxes

May 30, 2019

The government is planning to abolish a number of withholding taxes in the budget (2019-20). Sources told Business Recorder here on Wednesday that the...

Taxation

FBR sets up ‘Asset Declaration Facilitation Desk’ at LCCI

May 30, 2019

The Federal Board of Revenue on Wednesday established Asset Declaration Facilitation Desk at Lahore Chamber of Commerce and Industry to provide guidel...

Business

Apple unveils first new iPod model in four years

May 29, 2019

SAN FRANCISCO: Apple on Tuesday introduced its first new iPod model in four years, highlighting music and games as it continued to make a priority of ...

Uncategorized

Goods clearance process resumes at Torkham border

May 29, 2019

The Goods clearing process has resumed at Tokham border as customs clearing agents on Tuesday ended their protest after successful negotiations with o...