Daily Archives: November 2, 2017

FBR avoids audits of 640,000 taxpayers by extending return filing date

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ISLAMABAD: Federal Board of Revenue (FBR) has avoided conducting around 640,000 audit cases by extending last date for filing income tax return for further 15 days.

Business community condemns businessman’s detention in sales tax refund scam

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KARACHI: Business community has strongly condemned the arrest of a businessman by National Accountability Bureau (NAB) in sales tax refund scam.

Prime Minister directs creating real-time linkages of FBR with banks, other organizations

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ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday directed authorities to expedite the process of creating real-time linkages of Federal Board of Revenue (FBR) with banks and other organizations.

ECC exempts application of Section 7B on profits on Bahbood Saving Certificates, Pensioners Benefit Accounts

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday granted exemption the provisions of Section 7B of the Income Tax Ordinance 2001 for recipients of profit on debt from Behbood Saving Certificates and Pensioners Benefit Accounts.

Headline inflation increases by 3.8pc in Oct 2017

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ISLAMABAD: The headline inflation or Consumer Price Index (CPI) has increased by 3.8 percent on year-on-year basis in October 2017 as compared to an increase of 3.9 percent in the previous month and 4.2 percent in October 2016, said Pakistan Bureau of Statistics (PBS) on Wednesday.