Author Archives: Anjali

Car imports rise by 23.5pc in July – March

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KARACHI: The import of cars has registered 23.5 percent growth in first nine months of current fiscal year owing to rising local demand for domestic and commercial services, analysts said.

Bank holiday

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KARACHI: State Bank of Pakistan (SBP) on Thursday announced that it will remain closed on May 1, 2017 (Monday) on the occasion of “Labour Day” as declared by the Government of Pakistan.

SBP amends regulations on large exposure limit

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KARACHI: State Bank of Pakistan (SBP) has amended regulations for banks regarding large exposure limit i.e. borrowing to single person or a group.

Budget Proposals 2017/2018: online access to bank accounts should be restricted to unregistered persons

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KARACHI: Federal Board of Revenue (FBR) has been urged to amend laws regarding online access to records of bank account holders and it should be restricted to unregistered persons.

Budget Proposals 2017/2018: FED on soft drinks should reduced to 9pc

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KARACHI: Federal Board of Revenue (FBR) has been urged that Federal Excise Duty (FED) on soft drinks should be reduced to 9 percent from present 11.5 percent.

Budget Proposals 2017/2018: withholding tax on fresh milk should be exempted

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KARACHI: Federal Board of Revenue (FBR) has been urged to exempt supply of fresh milk from withholding income tax either it is purchased directly from farmers or through commission agents.

Budget Proposals 2017/2018: Retailers filing sales tax return regularly should be treated active taxpayers

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KARACHI: Federal Board of Revenue (FBR) has been urged that retailers regularly filing sales tax return should be treated as active taxpayers.

Budget Proposals 2017/2018: Changes to sales tax rate on POL products should be through Parliament

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KARACHI: The oil marketing companies has urged the federal government to stop issuing changes to sales tax rates on petroleum products as the same should be act of the parliament.

Budget Proposals 2017/2018: Annual return filing by salary persons, individuals should be Nov 30

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KARACHI: Federal Board of Revenue (FBR) has been urged to fixed the last date to November 30 for filing of annual income tax return by salaried person as existing date is very short in compiling the records.

Budget Proposals 2017/2018: Advance ruling should be allowed PE non-resident

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KARACHI: Federal Board of Revenue (FBR) has been urged to allow advance ruling to non-residents having permanent establishment in Pakistan.