Monthly Archives: October 2017

SECP issues warning to securities brokers against operating with illegal agents, branch offices

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has issued warning to securities brokers against operating with illegal or unregistered agents and branch offices.

FBR extends last date for filing annual income tax returns up to Nov 15

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing annual income tax returns up to November 15 from October 31, 2017 for salary persons and business individuals.

FBR releases Rs12.5bn sales tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday released sales tax refunds worth Rs12.5 billion against Refund Payment Orders (RPOs) issued by August 31, 2017.

FBR notifies transfer/postings of IRS officers BS-16-20

KARACHI: Federal Board of Revenue (FBR) has issued transfer/postings of Inland Revenue Service Officers of BS-16-17-18-19-20 with immediate effects till further orders, notification issued on Monday.

FBR restrains internal audit from sending notices directly to taxpayers

KARACHI: Federal Board of Revenue (FBR) has amended laws to restrain directorate general of internal audit from issuing notices to taxpayers for providing information including bank information, wealth statement and annual returns.

Tiles and sanitary ware industry threatens to shut down against imposition of regulatory duty

KARACHI: Mohammad Amin Lasania, Chairman, All Pakistan Tiles and Sanitary Merchants Association has warned the authorities that if regulatory duty and anti-dumping duty are not withdrawn then the industry has no option but to shut down their businesses, which will not only decline the revenue but also cause unemployment of one million people attached to this industry.

FBR urged to extend last date for filing annual return, wealth statement

KARACHI: Tax practitioners have urged Federal Board of Revenue (FBR) to extend the last date for filing income tax return that is expiring on October 31, 2017.

Central banks of Pakistan, Philippines sign MoU

KARACHI: Tariq Bajwa, Governor, State Bank and Daniel R. Espiritu, Ambassador of Philippines in Pakistan on behalf of Bangko Sentral NG Pilipinas – the Central Bank of Philippines have signed a Memorandum of Understanding (MoU) on bilateral central banking cooperation in a ceremony held on Friday.

PTBA demands return filing date extension up to Nov 30

KARACHI: Pakistan Tax Bar Association (PTBA) has demand the government of extending the last date for filing income tax return and wealth statement for a month i.e. November 30, 2017 in order to increase the number of return filers and facilitate existing taxpayers.

Repatriation on foreign investment grows by 27pc in first quarter

KARACHI: The repatriation of profit/dividend by foreign companies operating in Pakistan has increased by over 27 percent in the first quarter of 2017/2018 as compared with the same quarter of the last fiscal year.