Author Archives: Faisal

Parliament approval must for imposing regulatory duty

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LAHORE: The All Pakistan Business Forum has rejected the imposition of additional regulatory duty on import, saying the government neither can impose any duty nor enhance taxes without the approval of the parliament. The regulatory duty was imposed by the government on 797 items including industry raw material without taking the business community on board who are the real stakeholders.

SECP issues instructions to listed companies for efiling financial statements

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has directed all listed companies to submit their annual and quarterly financial statements through commission’s eServices.

Tax Year 2017 return filing sharply increases by 111.55pc: FBR

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ISLAMABAD: The income tax return filing for tax year sharply increased by 111.55 percent up to October 18, 2017 as compared with the same date of last year, Federal Board of Revenue (FBR) said on Friday.

Cosmetic items attract 50pc regulatory duty

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ISLAMABAD: The government imposed 50 percent regulatory duty on import of cosmetic items under SRO 1035(I)/2017 dated October 16, 2017.

National Savings to launch Rs100,000 denomination bonds

ISLAMABAD: National Savings is planning to launch Rs100,000 denomination prize bonds. The high denomination instrument is series of registered prize bonds especially after Rs40,000 premium prize bonds.

FBR directed to remove tax anomaly in Behbood Certificates, Pensioners Benefits Accounts

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ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has directed Federal Board of Revenue (FBR) to remove anomaly in tax treatment of Behbood Certificates and Pensioners Benefits Accounts.

SME, export sectors exempted from regulatory duty

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ISLAMABAD: Federal Board of Revenue (FBR) has said that Small and Medium Enterprises (SMEs) and export oriented units are exempted from paying regulatory duty levied through SRO 1035(I)/2017 on import of raw material and machinery.

FBR allows zero-rated furnace oil, diesel purchase to textile unit

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ISLAMABAD: Federal Board of Revenue (FBR) has allowed zero rated supply of 3,400 metric tons furnace oil and 5,000 liters diesel oil on monthly basis to a textile unit.

Rate of regulatory duty on import of vehicles under SRO 1035

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ISLAMABAD: Federal Board of Revenue (FBR) has imposed regulatory duty up to 80 percent on import of vehicles under SRO 1035(I)/2017 issued on Tuesday.

FBR notifies transfers, postings of 42 IRS officers

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ISLAMABAD: Federal Board of Revenue (FBR) on Monday announced transfers and postings of 42 Inland Revenue Officers (IRS) of BS-17-20 with immediate effect under further orders.