Monthly Archives: May 2017

FBR updates customs duties on import of goods by agri sector

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KARACHI: Federal Board of Revenue (FBR) has updated rates of customs duty for import of goods by agriculture sector.

SECP files criminal case against brokers of Adam Securities for market manipulation in book building

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has filed a criminal case in the Karachi sessions court against brokers of Adam Securities Limited, for manipulating in the book building activity of Al Shaheer Corporation Limited, which was listed in 2015.

SECP issues Companies Act 2017

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Wednesday issued Companies Act, 2017 after President Mamnoon Hussain signed the Act, marking the dawn of a new era that promises great opportunities for the corporate sector to thrive in a challenging global environment.

FBR notifies sales tax rate changes on POL products

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ISLAMABAD: Federal Board of Revenue (FBR) has issued notification to change sales tax rates of petrol and high speed diesel (HSD) to be implemented during the month of June 2017.

Petrol, HSD prices reduced for June 2017

ISLAMABAD: The government has reduced prices of petrol and high speed diesel by Rs1.20 / Litre and Rs1.60 / Litre, respectively, with effect from June 01, 2017 until June 30, 2017.

FBR revenue collection targets for direct and indirect taxes in 2017/2018

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ISLAMABAD: The government has set another ambitious revenue collection target of Rs4,013 billion for fiscal year 2017/2018, about 14 percent higher than collection of the outgoing fiscal year.

Tough measures against non-filers to increase number in ATL

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ISLAMABAD: The number of active taxpayers has been increased by 8,092 during the last week and the Active Taxpayers List (ATL) for tax year 2017 has increased to 1,166,552.

SBP issues enterprise technology, risk management framework of financial institutions

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KARACHI: State Bank of Pakistan (SBP) has issued Enterprise Technology Governance & Risk Management Framework for Financial Institutions (FIs). The Framework has been developed after extensive consultation with both internal & external stakeholders.

FBR enhances FED on locally produced cigarettes

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ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced increase in federal excise duty on sale of locally produced cigarettes.

Sales tax rate increased on import of lower priced mobile phones

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KARACHI: Federal Board of Revenue (FBR) has proposed increase in sales tax on import of low priced mobile phones and at the time of IMEI registration.