Karachi Chamber urges FTO to intervene into immovable property valuation issue


KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has sought intervention of Federal Tax Ombudsman (FTO) into matter of immovable property valuation tables, which were recently issued by Federal Board of Revenue (FBR).

Naseem Askar assumes KCAA acting president


KARACHI: Karachi Customs Agents Association (KCAA) on Tuesday announced that in absence of Shahnawaz A. Sattar, President of the association, who is on leave till August 30, 2016 the Senior Vice President Naseem Askar will perform as Acting President of the association in compliance of Clause 15(ii)(a) of the Article of Association.

Sales tax real time invoice entry system still not enabled


KARACHI: Karachi Tax Bar Association (KTBA) has said that Sales Tax Real Time Invoice Entry (STRIVe) is still not enabled, which is causing delaying in filing return.

Finance ministry invites EOI for appointment of lead manager to launch Sukuk in foreign capital markets

ISLAMABAD: The finance ministry on Tuesday invited expression of interest (EoI) for appointment of financial advisor / leader manager to issue sovereign Sukuk in international capital markets.

Tax refunds to be transferred directly to claimant’s bank account: Dar


ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Tuesday said that Federal Board of Revenue (FBR) is evolving mechanism to transfer sales tax refunds directly to bank accounts of claimants.

Commerce ministry invites items list for Turkey, Thailand FTAs consideration

ISLAMABAD: Ministry of Commerce has invited business community and concerned stakeholders to provide list of items for concessions on Free Trade Agreements (FTAs) with Turkey and Thailand.

SECP advises modarabas to increase outreach to small cities and towns


ISLAMABAD: Chairman, Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi has appreciated the role of modarabas in providing Islamic financial products and services to the masses and advised them to increase their outreach to the smaller cities and towns for greater financial inclusion.

Principles of corporate governance for non-listed companies approved


ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has approved principles of corporate governance for Non-listed Companies (NLCs) to make business environment trustworthy, transparent and accountable.

Prime Minister hands over Rs21.44bn sales tax refunds


ISLAMABAD: Prime Minister Muhammad Nawaz Sharif handed over sales tax refund cheques worth Rs21.44 billion at a ceremony held here on Tuesday.

Retailers seek time extension for opting 2pc sales tax on turnover


KARACHI: The Chairman of Federal Board of Revenue (FBR) has been urged to give retailers sufficient time for opting two percent sales tax.