Daily Archives: April 4, 2018

Seven customs officials granted performance allowance

ISLAMABAD: Federal Board of Revenue (FBR) has granted performance allowance equal to 100 percent of basic pay to seven BS-16 Customs officials posted at Model Customs Collectorate (MCC) Lahore.

FBR notifies transfer, postings of senior customs officers

ISLAMABAD: Federal Board of Revenue (FBR) has notified transfers and postings of senior customs officers in BS-18 – 20 with immediate effect under further orders.

Withholding tax at 2.5pc proposed on MF transactions

KARACHI: Pakistan Stock Exchange (PSX) has proposed reduction in withholding tax rate to 2.5 percent from 10 percent on the gross income earned on margin financing (MF) transactions.

FBR proposed 20pc tax credit for 5 years on new listing

KARACHI: Federal Board of Revenue (FBR) has been urged to allow tax credit at 20 percent on enlistment of a company on the stock exchange. The tax credit should be allowed for five years from the tax year in which the company is listed, Pakistan Stock Exchange (PSX) recommended in its proposals for budget 2018/2019.

FBR council decides not to repeat audit of taxpayers: Member Legal

KARACHI: The Board in Council of Federal Board of Revenue (FBR) has decided not to repeat selection of cases for audit which have already been selected in the previous year, a top official of FBR said on Tuesday.