SBP directs banks to prepare three-year plan for strengthening presence in Baluchistan


KARACHI: State Bank of Pakistan (SBP) has directed commercial banks to prepare three years business plan to strengthen their presence in Baluchistan.

FBR conducts third party survey of retailers after amnesty failure


ISLAMABAD: After the failure of amnesty scheme, the Federal Board of Revenue (FBR) has decided to conduct third party survey to identify the number of retailers in the country to bring them into tax net.

FBR suspends zero-rate sales tax on electricity to Olympia Spinning and Weaving Ltd


KARACHI: Federal Board of Revenue (FBR) has withdrawn the sales tax zero rate facility on consumption of electricity that was allowed to Olympia Spinning and Weaving Mills Limited on recommendation of Regional Tax Office (RTO) Karachi.

Budget Proposals 2017/2018: FBR urged to reduce number of withholding tax rates to five from 55


KARACHI: Foreign and multinational companies have urged the Federal Board of Revenue (FBR) to revamp withholding tax regime and reduce the number of tax rates to 5 from 55 rates.

NCCPL announces collection of CGT on March 28


KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Friday announced that Capita Gain Tax (CGT) for the month of February 2017 will be collected on March 28.

30,000 companies get relaxation from appointing legal advisor: SECP


ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has achieved another milestone in ease of doing business as its recommendations to amend the 43-year-old Companies (Appointment of Legal Advisors) Act, 1974, has been approved by the Parliament.

FBR announces promotion of customs preventive officers


KARACHI: Federal Board of Revenue (FBR) on Friday notified promotion of Inspector Preventive Service of Model Customs Collectorate (Preventive), Karachi to the post of superintendent preventive service BS-16 with immediate effect and under further orders.

Measures against tax evasion to strengthen revenue generation: Dar


ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has said that effective measures against tax evasion will help in promoting tax culture and strengthening revenue generation.

FBR allows Pak Arab Refinery to supply zero-rate diesel oil to textile unit


ISLAMABAD: Federal Board of Revenue (FBR) has allowed Pak Arab Refinery Limited to supply 9,150 liters of diesel oil on monthly basis to a textile unit at zero percent of sales tax.