Author Archives: Faisal

FBR nominates 19 customs officers of BS-20 for promotion training

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ISLAMABAD: Federal Board of Revenue (FBR) has nominated 19 officers of BS-20 Pakistan Customs Service (PCS) for mandatory training course for promotion into next grade.

FBR revives circle system to identify potential taxpayers

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ISLAMABAD: Federal Board of Revenue (FBR) has revived income tax circle system to tap potential taxpayers and enhance facilitation for existing taxpayers at district level.

SECP notifies regulations for future exchanges

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Friday notified the Futures Exchanges (Licensing & Operations) Regulations, 2017. Those have been issued under the Futures Market Act, 2016.

Customs collectorates to remain open midnight of June 30 for revenue collection

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ISLAMABAD: Customs collectorates will remain open till mid-night of June 30 in order to facilitate the trade for collection of duty and taxes. The customs stations will also observe extended working hours on June 22, 23, 24 and 29 for the purpose.

SECP issues forms for reporting beneficial ownership

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SEC) on Thursday issued the forms for reporting beneficial ownership information as required under section 452 of the Companies Act, 2017.

FBR imposes up to 60pc regulatory duty on vehicle imports

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ISLAMABAD: Federal Board of Revenue (FBR) has imposed up to 60 percent ad valorem regulatory duty on import of luxury vehicles. The FBR issued SRO 504(I)/2017 on Wednesday to implement the regulatory duty on various goods and vehicles.

Inland Revenue offices to work extended hours before, after Eid holidays for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for collection of revenue before and after Eid holidays in order to achieve revenue collection target of Rs3,521 billion for current fiscal year.

Dignitaries of UAE, Qatar and Bahrain allowed duty free imports

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ISLAMABAD: The government of Pakistan has allowed duty free imports by dignitaries of UAE, Qatar and Bahrain, which includes household articles and personal effects including vehicles and goods for donation to projects established in Pakistan.

FBR clarifies tax treatment of Islamic financial institutions

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ISLAMABAD: Federal Board of Revenue (FBR) has issued clarification regarding interpretation of certain provisions of the income tax laws in the context of Islamic banking.

Draft rules issued to create fund for investors awareness, education

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued draft Investors Education and Awareness Fund Rules, 2017 to be established under provisions of Companies Act, 2017.