Daily Archives: June 20, 2017

Inland Revenue offices to work extended hours before, after Eid holidays for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for collection of revenue before and after Eid holidays in order to achieve revenue collection target of Rs3,521 billion for current fiscal year.

SBP allows banks to outsource storage of account opening forms

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KARACHI: State Bank of Pakistan (SBP) has allowed banks to outsource storage / archival of account opening forms (AOF) under amended framework for risk management in outsourcing arrangements by financial institutions issued on Tuesday.

Dignitaries of UAE, Qatar and Bahrain allowed duty free imports

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ISLAMABAD: The government of Pakistan has allowed duty free imports by dignitaries of UAE, Qatar and Bahrain, which includes household articles and personal effects including vehicles and goods for donation to projects established in Pakistan.

FBR clarifies tax treatment of Islamic financial institutions

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ISLAMABAD: Federal Board of Revenue (FBR) has issued clarification regarding interpretation of certain provisions of the income tax laws in the context of Islamic banking.