FBR allows zero-rate to 5 textile units on electricity consumption


ISLAMABAD: Federal Board of Revenue (FBR) has allowed sales tax zero-rated on consumption of electricity to five textile units in order to reduce their cost of production for subsequent increase in the country’s exports.

FBR advised establishing behavioral insight units for exploring revenue potential


KARACHI: State Bank of Pakistan (SBP) has given a solution for enhancing tax-to-GDP ratio through establishing a behavioral insight team by Federal Board of Revenue (FBR).

SRB restores sales tax registration of 4 taxpayers


KARACHI: Sindh Revenue Board (SRB) has restored sales tax registration of a batch of four taxpayers, who were suspended for non-compliance of payment and mandatory filing of sales tax return.

Customs asked to take action against commercial imports of cars


ISLAMABAD: The ministry of commerce has asked customs authorities to take strict action against commercial importers of cars as there was no provision of commercial imports of cars under the law.

Customs I&I Lahore announces auction of vehicles on Jan 23


ISLAMABAD: Directorate of Customs Intelligence and Investigation, Lahore has announced auction of confiscated vehicles to be held on January 23, 2018 at State Warehouse, I&I, Lahore.

Duty collection from imported vehicles surges by 57.7pc


KARACHI: The collection of customs duty from imported vehicles has increased sharply by 57.7 percent due to higher imports and revision in duty structure.

National Savings likely to launch Dollar Certificates by May 2018

KARACHI: Central Directorate of National Savings (CDNS) is planning to launch saving certificates in US dollars to encourage overseas Pakistanis to invest this financial instruments. This dollar based security is likely to be launched in the last quarter of this fiscal year.

People have no trust on tax machinery: FTO


KARACHI: People have no trust on tax machinery so they do not want to come into tax net, Mushtaq Ahmad Sukhera, Federal Tax Ombudsman said on Friday.

Economy maintains growth momentum despite external headwinds


KARACHI: State Bank of Pakistan (SBP) on Friday released its First Quarterly Report for FY18 on the State of Pakistan’s Economy. According to the Report, preliminary data on key macroeconomic indicators suggest that growth momentum remained strong in the first quarter of current fiscal year. Several coincident indicators point to a further strengthening of aggregate supply and demand in the economy.