FBR assigns jurisdictions for cases of automatic exchange of information

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ISLAMABAD: The chief commissioners of six tax offices have been assigned jurisdiction over automatic exchange of information and perform all administrative functions and coordination with Federal Board of Revenue (FBR).

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.

FBR issues list of locally manufactured goods where exemption, concessions not to be allowed

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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued a list of locally manufactured items on which exemption or concessions will not be allowed at import stage.

Tax officers making efforts to achieve revenue target: Dr. Irshad

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ISLAMABAD: Dr. Muhammad Irshad, Chairman, Federal Board of Revenue (FBR) has said that the revenue body is making efforts with full vigor to achieve revenue collection target of Rs3621 billion for current fiscal year.

Inland Revenue offices to remain open on April 29 for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday directed all field offices of Inland Revenue to observe Saturday, April 29, 2017 as normal working day for collection of duty and taxes.

FBR allows income tax exemption to foreign banks

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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday allowed income tax exemption on profit gained by foreign financial institutions against lending to the government of Pakistan.

Pakistan Development Fund to be launched soon to channelize remittances: Dar

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ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has said that the government would soon be launching Pakistan Development Funds.

SECP directs companies to provide source of funds amounting Rs5 million and above

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has asked all the registered companies to provide source of funding amounting Rs5 million or above received during a financial year.

Pakistan, Bulgaria sign avoidance of double taxation treaty

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ISLAMABAD: Pakistan and Bulgaria on Wednesday signed an agreement for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income after the conclusion of second round of negotiations.

SECP approves listing of wheat futures contracts on PMEX

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has approved listing of wheat futures contracts on Pakistan Mercantile Exchange Limited (PMEX) in an endeavor to augment the portfolio of agricultural commodities in domestic futures market.