Daily Archives: June 8, 2017

No plan to appoint Atif Bajwa as SBP governor

ISLAMABAD: The finance ministry on Thursday strongly rebutted the news reports regarding appointment of Atif Bajwa, CEO of Bank Alfalah, as the governor of State Bank of Pakistan (SBP).

SECP grants two-year NTN exemption to promote corporatization

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has granted general exemption from the requirement of National Tax Number (NTN) for appointment of directors by small size companies.

FBR imposed major penalty upon appraiser for misconduct

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of demoting to three stages upon appraiser MCC Exports Port Muhammad Bin Qasim on allegation of misconduct and inefficiency.

FBR launches modern contact center to facilitate taxpayers in real time

ISLAMABAD: The chairman of Federal Board of Revenue (FBR) Dr. Muhammad Irshad on Thursday inaugurated the newly-furbished and modernized contact center at FBR Headquarters to promptly respond to taxpayers’ queries and provide them relevant information in real time.

PRA to allow input adjustment, refunds on verification of invoices, GDs

ISLAMABAD: Punjab Revenue Authority (PRA) to allow input adjustment or refund claims against any other law with condition of verification through tax invoice or Goods Declaration (GD).

PRA to recover defaulted amount from service provider, recipient

ISLAMABAD: Punjab Revenue Authority (PRA) to recovery unpaid amount from both service provider and recipient in case of default.

Punjab revenue brings virtual businesses into services tax

ISLAMABAD: Punjab Revenue Authority (PRA) has brought virtual businesses into the regime of sales tax on services.
Through Punjab Finance Bill 2017, the definition of place of business has been proposed to amend.