Budget Proposals 2017/2018: 25pc tax rebate recommended for working women with children


KARACHI: Pakistan Business Council (PBC) has proposed 25 percent tax rebate for working women with children in order to reduce the cost of child care for mothers entering full time employment impacting net household income.

Customs to observe extended working hours on March 30, 31 for duty-tax collection


KARACHI: All customs collectorates will observe extended working hours on March 30 and 31 for collection of duty and taxes, said a notification issued by Federal Board of Revenue (FBR).

Budget 2017/2018 likely before Ramazan


ISLAMABAD: The government is likely to present federal budget 2017/2018 ahead of Ramazan or last week of May 2017.
Budget, as earlier decided is proposed to be presented before the National Assembly ahead of Ramazan as would be the Economic Survey 2016/2017. It was decided at a meeting chaired by Federal Minister for Finance Senator Mohammad Ishaq Dar on Wednesday to review state of preparations for the budget 2017-2018.

FBR notifies transfers of IRS officers BS-17-19


ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified transfers and postings of Inland Revenue Service (IRS) officers (BS-17-19) with immediate effect and until further orders.

FBR appoints 153 inspectors, intelligence officers in customs department


KARACHI: Federal Board of Revenue (FBR) has appointed 153 officials in the Customs Department as inspector and intelligence officers on the recommendations of Federal Public Service Commission (FPSC).

Retail sector’s deposits fall by around 15pc since imposition of withholding tax on non-cash transactions


KARACHI: Bank deposits of retail sector has declined by around 15 percent since imposition of withholding tax on non-cash banking transactions.

Pak-Iran central banks to sign agreement for resuming banking channels next week: FPCCI


KARACHI: The two central banks of Pakistan and Iran are likely to sign agreement next week for opening banking channels to streamline trading activities between the two countries, Zubair Tufail, president, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Tuesday.

Pakistan, Switzerland sign tax treaty with revised exchange of information on OECD model


ISLAMABAD: Pakistan and Switzerland on Tuesday signed revised avoidance of double taxation treaty, which replaced the article on exchange of information with the new one reflecting the internationally accepted standards based on the OECD Model.

Bank holiday


KARACHI: State Bank of Pakistan (SBP) on Tuesday said that it will remain closed on March 23, 2017 (Thursday) being public holiday on the occasion ‘Pakistan Day’, as declared by the government.

FBR promotes chemical examiners to BS-17


KARACHI: Federal Board of Revenue (FBR) on Monday announced promotions of Deputy Assistant Chemical Examiner (BS-16) in the Customs Laboratories at Karachi, Lahore and Faisalabad to the post of Assistant Chemical Examiner (BS-17) with immediate effect and until further orders.