Daily Archives: February 7, 2018

PSMA rejects duty, tax exemption to Chinese company, says it will cost Rs11bn to exchequer

KARACHI: Pakistan Steel Melters Association (PSMA) has rejected the recently issued SRO 47(I)2018, that allows controversial duty and tax exemptions to China State Construction Engineering Corporation Limited. “This exemption of taxes and duty to Chinese company will cost national exchequer approximately Rs11 billion,” said a statement on Wednesday.

Sindh High Court declares RD imposed through SRO 1035, exercising powers as illegal

KARACHI: Sindh High Court (SHC) in a landmark judgment on Wednesday declared the imposition of regulatory duty as illegal besides also declaring the powers as illegal exercise by minister in-charge and Federal Board of Revenue (FBR) in amending the rates of duty.

FBR notifies transfer, postings of BS-17 IRS officers

ISLAMABAD: Federal Board of Revenue (FBR) has notified transfers and postings of BS-17 officers of Inland Revenue Service (IRS) with immediate effect and until further orders.