Monthly Archives: April 2017

Cost of transactions for non-filers to be increased in budget: Member Operations

KARACHI: Rehmatullah Khan Wazir, Member Inland Revenue (Operations) has said that cost of transactions for non-filers will be increased in the budget 2017/2018.

Sindh High Court directs giving priority to tax cases

KARACHI: Sindh High Court (SHC) has issued directives the benches to give priorities in taxation cases. The directives have been issued on the request of Federal Board of Revenue (FBR) to recover amount in litigation cases.

POL prices kept unchanged for May despite recommendation for reduction in petrol, HSD

ISLAMABAD: The government on Sunday decided to maintain the petroleum prices for the month of May 2017 despite the recommendation of petroleum ministry and OGRA to reduce prices of petrol and high speed diesel.

FBR receives 168 money laundering cases

ISLAMABAD: Federal Board of Revenue (FBR) has received 168 cases of money laundering from Financial Monitoring Unit (FMU) of the ministry of finance.

Updated ATL shows 1.12 million return filers

ISLAMABAD: The number of income tax return filers has increased to 1.12 million after massive crackdown launched by Federal Board of Revenue (FBR) against non-filers, sources said on Saturday.

SECP makes mandatory certification requirement for research analysts

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has prescribed certification requirement for all persons who are involved in preparation and distribution of research reports to the public.

FBR issues SRO for reduced withholding tax rate on non-filers

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued a notification to extend the levy of reduced withholding tax on non-filers at 0.4 percent up to June 30, 2017.

ECC allows tax exemption to JICA loan for transmission line project

ISLAMABAD: The Economic Coordination Committee (ECC) has approved exemption to Japan International Cooperation Agency (JICA) from all levies and taxes for the loan extended by the Government of Japan / JICA on concessionary terms, amounting to JPY 2.665 billion (equivalent to US$ 26 million approximately), for the Islamabad – Burhan Transmission Line Reinforcement Project.

Car imports rise by 23.5pc in July – March

KARACHI: The import of cars has registered 23.5 percent growth in first nine months of current fiscal year owing to rising local demand for domestic and commercial services, analysts said.

SECP files criminal case against former executive of leading bank for insider trading

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal case against a former senior banker of a leading bank in the country.