Monthly Archives: March 2017

FBR invites feedback on draft HS Code – 2017

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KARACHI: Federal Board of Revenue (FBR) has issued draft Harmonized System Code (HS Code) 2017 version of Pakistan Customs Tariff and invited comments from stakeholders for finalizing it.

SECP files criminal case for manipulating Pak Electron shares

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) filed criminal case against CEO of Cedar Capital (Private) Limited (CCPL) and his two prominent clients for manipulating the prices of the share of Pak Electron Limited (PAEL) at Pakistan Stock Exchange.

Export package, CPEC-related exemptions may challenge FBR collection

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KARACHI: State Bank of Pakistan (SBP) on Friday said revenue collection by the Federal Board of Revenue (FBR) during the remaining months of current fiscal year may be challenging due to incentives announced under export package and exemptions to CPEC-related projects.

FBR issues updated sales tax rates on POL products

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ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued updated sales tax on supply of petroleum products effective from April 01, 2017.

SBP directs banks to classify remittances received against IT services

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KARACHI: State Bank of Pakistan (SBP) on Thursday instructed banks to classify receipts of foreign remittances under computer and information services and report under proper codes.

KTBA elects officer bearers, EC members for 2017/2018

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KARACHI: Karachi Tax Bar Association (KTBA) has elected office bearers and members of executive committee for the term 2017/2018 at the 60th Annual General Meeting held on Thursday.

SECP files criminal insider trading case against banker

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint against an employee of a leading bank for his alleged involvement in insider trading.

SECP launches new electronic company registration system

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ISLAMABAD: Zafar Hijazi, Chairman, Securities and Exchange Commission of Pakistan (SECP) on Thursday launched the new registration system which will reduce the incorporation cost to Rs100 from Rs1,500 per user besides reducing the turnaround time from days to minutes for registration of users of e-Services.

FBR activates ADRC after a decade for speedy resolution of appeal cases

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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday activated the Alternate Dispute Resolution after a decade considering the fact that 27,000 appeals are pending before Appellate Tribunal Inland Revenue (ATIR) and 5,000 cases before the Customs Tribunal.

Ban imposed for three months on FBR officials’ leave

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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday imposed ban on leave of officials for a period of over three months i.e. till June 30, 2017 for duty/tax collection and achieve revenue target.