Auction for goods/vehicles to be held on October 17 at Faisalabad

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KARACHI: Auction for goods and vehicles to be held on October 17, 2017 at SWH, Intelligence & Investigation-Federal Board of Revenue (FBR), Faisalabad, notification issued on Monday.

SBP recommends installation of water metering devices for equitable charges

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KARACHI: State Bank of Pakistan (SBP) has suggested installation of metering devices for regulating charges applied on water supply and making equitable system for household usage.

Income tax returns filing grows by 117.2 percent; FBR receives 352,000 returns for tax year 2017

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ISLAMABAD: Federal Board of Revenue (FBR) has said that the income tax return filing for tax year 2017 has registered 117.2 percent growth to 352,000 returns by October 13, 2017 as compared with 162,000 returns filed on the same day of the last year.

Sales tax collection from POL products down by 17.7pc: SBP

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that the collection of sales tax from petroleum products sharply declined by 17.7 percent in fiscal year 2016/2017.

Tax-to-GDP ratio falls in FY17; lowest in region: SBP

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that tax to GDP ratio fell to 12.5 percent in fiscal year 2016/2017 despite improvement in revenue collection during recent years.

WHT on banking transactions fails to discourage cash economy: SBP

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that the imposition of withholding tax on banking transactions apparently failed to discourage the cash economy.

Major reshuffle in Pakistan Customs Service; FBR notifies transfers, postings of 25 officers of BS-19-20

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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified major reshuffle of Pakistan Customs Service (PCS) officers in BS-19 and BS-20 and issued orders of transfers and postings of 25 officers with immediate effect and under further orders.

PTBA decides to support FBR’s return filing awareness campaign

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KARACHI: Pakistan Tax Bar Association (PTBA) has decided to help the Federal Board of Revenue (FBR) in its ongoing awareness campaign regarding filing of returns.

FBR allows zero-rate electricity to three textile units

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KARACHI: Federal Board of Revenue (FBR) has allowed sales tax zero-rating on supply of electricity to three textile units based in Faisalabad.

SBP projects swelling twin deficits in 2017/2018; forecast 6pc GDP growth, lower inflation

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KARACHI: State Bank of Pakistan (SBP) has projected that the government will not able to curtail twin deficits: fiscal deficit and current account deficit to the targets of 4.1 percent and 2.6 percent, respectively of the GDP.