Weekly ATL adds 8,985 return filers


ISLAMABAD: The number of active taxpayers has been increased by 8,985 to 1,158,460 by week ended May 21 from previous number of 1,149,475 in the Active Taxpayers List (ATL) a week ago, Federal Board of Revenue (FBR) said on Monday.

Preventive Karachi announces auction of vehicles, goods on May 24


KARACHI: Model Customs Collectorate (MCC) Preventive, Karachi announced auction of confiscated vehicles and goods to be held at state warehouse – III, Kemari Karachi, near ministry of port and shipping office, Karachi on May 24, 2017.

Textile exports cross $10bn during July – April


ISLAMABAD: Exports of textile products have crossed $10.29 billion during July – April 2016/2017, easing from $10.39 billion in the corresponding period of the last fiscal year, showing one percent decline, according to statistics issued by Pakistan Bureau of Statistics (PBS) on Monday.

Finance minister to present economic survey on May 25

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar will launch Economic Survey of Pakistan for the outgoing fiscal year (2016/2017) on Thursday, May 25, 2017.

Budget Proposals 2017/2018: FPCCI seeks zero-rate sales tax for rice sector


KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested zero-rate of sales tax for rice sector, which is the second largest export oriented after textile.

NBP asked not to accept pay orders without importers NTN


KARACHI: Pakistan Customs has advised National Bank of Pakistan (NBP) not to accept pay orders from importers unless National Tax Number (NTN) and name of importer is printed on the front side of pay order.

FBR’s key measures likely to be presented through Finance Bill


ISLAMABAD: Federal Board of Revenue (FBR) is likely to propose measures for enhancing revenue and broadening of tax base through Finance Bill 2017 to be presented on May 26.

Budget Proposals 2017/2018: Initial depreciation allowance at 50pc for plants and machinery recommended


KARACHI: Textile industry has proposed 50 percent initial depreciation allowance rate for plants and machinery as was the case prior to the Finance Act, 2014.

Pakistan Dairy Association meets FM, presents budget proposals


ISLAMABAD: A delegation of the Pakistan Dairy Association comprising Pakistan Dairy Association included representatives of Nestle, Engro Foods, Shakarganj Mills, Fauji Foods, Packages Limited and Everfresh Farms called on the Finance Minister Senator Mohammad Ishaq Dar on Sunday and presented budget-related proposals and tax-related matters on behalf of the dairy sector, which were discussed in detail during the meeting.

Commerce ministry presents tax proposals


ISLAMABAD: Ministry of Commerce on Sunday presented its budget proposals for 2017/2018 to Finance Minister Senator Mohammad Ishaq Dar for improvement in trade and exports.