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.

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.

Withholding tax at 0.4pc on non-filers extended for three months

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ISLAMABAD: Economic Coordination of Committee of the Cabinet (ECC) on Tuesday approved to extend the application of 0.4 percent withholding tax on non-cash banking transactions made by non-filers of income tax returns for further three months.

FBR notifies transfer, postings of 19 Customs officers

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KARACHI: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 19 officers (BS-17-19) of Pakistan Customs Service (PCS) with immediate effect and further orders.

State Bank clarifies authenticity of Rs500 banknotes without OVI

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KARACHI: State Bank of Pakistan (SBP) on Monday said that Rs500 banknotes with or without Optical Variable Ink (OVI) flag are authentic currency notes.

No question on inward remittance: SBP

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KARACHI: The governor of State Bank of Pakistan (SBP), Ashraf Mahmood Wathra on Monday said that there was no question to be asked on remittance inflows into Pakistan.