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Monthly Archives: May 2018

Sales tax on POL products sharply reduced; FBR to face collection challenges

ISLAMABAD: Federal Board of Revenue (FBR) will face huge setback in collection as the government massively reduced sales tax rates on petroleum products in...

SBP’s subsidiary starts functioning for depositors’ protection

KARACHI: State Bank of Pakistan (SBP) on Thursday announced that its subsidiary will start work from June 01, 2018 for protection of small depositors. In...

ECC approves five-year tax package for FATA, PATA

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved tax exemption and concession package for the people of FATA and PATA...

SRB restores sales tax registration of 14 companies

KARACHI: Sindh Revenue Board (SRB) has restored sales tax registration of 14 companies, which were suspended a year ago on non-compliance of tax payment...

Imports subject to health, safety inspection allowed only at Karachi Sea Port

ISLAMABAD: The government has decided to import of various food items at only Karachi sea port for inspection by plant and protection department. The Economic...

ECC approves extension of PM package with Rs65bn annual relief of exemption, concession during...

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday approved extension of Prime Minister Export Package with Rs65 billion annual exemption and concessions...

FBR notifies transfers, postings of senior officers; Nadeem Dar made Member HRM

ISLAMABAD: Federal Board of Revenue (FBR) has posted Nadeem Dar, BS-22 officer of Inland Revenue Service (IRS) as Member HRM around 20 days ahead...

SBP starts SMS service for new banknotes

KARACHI: State Bank of Pakistan (SBP) on Wednesday launched SMS service for issuance of fresh currency notes to general public. The fresh currency notes will...

FBR extends one year for application of list of locally manufactured goods

ISLAMABAD: Federal Board of Revenue (FBR) has said the list of locally manufactured goods for the purpose of concessionary regime will be applicable till...

Customs barred from initiating audit, investigation in case of full payment

KARACHI: Customs authorities have been barred from initiating audit and investigation where payment has been made in erroneously short-paid cases. Through Finance Act, 2018 a...

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