Daily Archives: May 14, 2017

Budget Proposals 2017/2018: Short payment recovery without show cause against the Constitution

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that short paid sales tax recovery without issuing show cause notice is against the Constitution of Pakistan.

Budget Proposals 2017/2018: Taxpayers should not be arrested without trial

KARACHI: Federal Board of Revenue (FBR) has been urged provisions of Sales Tax Act, 1990 related to ‘power to arrest’ should not be invoked without going trial of a taxpayer.

Budget Proposals 2017/2018: FPCCI recommends stop promotion of tax officers found in maladministration

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested the Federal Board of Revenue (FBR) to stop promotion of Inland Revenue Officers (IROs) for three years in case found in maladministration.

Budget Proposals 2017/2018: PLGMEA suggests withdrawal of 0.25pc export development surcharge

KARACHI: Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) has urged Federal Board of Revenue (FBR) to withdrawn 0.25 percent export development surcharge to reduce cost of production and make Pakistan’s exports competitive in the international market.

Bank of China to open first branch in Karachi soon

ISLAMABAD: Bank of China will open its first branch in Karachi and gradually expand its network to other cities, said a statement received here on Saturday.

Bank of China to start financial operation in Pakistan with initial investment of $50 million

KARACHI: Bank of China, world’s fourth largest bank, will start its operation in Pakistan with initial investment of $50 million with aim to penetrate through opening branch network.