Just in:  

You are here: Home»Taxation»



A meeting is likely to be convened at the Federal Board of Revenue (FBR) on Thursday, October 8 to review the recommendations of the Tax Reform Commission (TRC). Sources told Business Recorder here on Thursday that the Finance Division has written a letter to the FBR to submit details of the recommendations of the TRC incorporated in the budget (2015-16).

Sindh Chief Minister Syed Qaim Ali Shah has said that he was very much confident and optimistic that Sindh Revenue Board (SRB) by virtue of its expertise in tax collection not only meet its current target of Rs 61 billion but also achieve the target of Rs 100 billion in next two years. He said that constitutionally collecting taxes was the provincial subject so provinces should also be allowed to collect sales tax on goods for their development.
The highly taxed telecom sector is said to scale down its foreign direct investment with a signal to abstain from next spectrum auction, sources said on Wednesday. There are also fears that the existing 3G and 4G subscription base may fall off if the federal and Punjab governments continue taxing internet yielding a significant financial loss to all telecom operators.
The Federal Board of Revenue (FBR) has started a detailed review of budgetary impact of taxation measures taken in 2015-16 and collection from new measures during first quarter (July-September) of 2015-16. Sources told Business Recorder here on Wednesday that the revenue collected from budgetary measures during first quarter of 2015-16 would be discussed during a meeting at the FBR House to be convened on Thursday (October 8).
Directorate of Intelligence and Investigation - FBR, Anti-Smuggling (Customs), Karachi on Wednesday claimed to have confiscated 436 tons of Plastic Granules (PG) of different origins during raid in Baldia, SITE area. According to details, the action was taken on a tip-off which revealed that huge quantity of PG was stocked in a warehouse located at Baldia, SITE area.
The Oil and Gas Regulatory Authority (Ogra) on the request of Pakistan State Oil (PSO) has fixed provisional price of imported Liquefied Natural Gas (LNG) at $8.64 per Million British Thermal Unit (MMBTU). According to a notification issued here on Wednesday the authority considering PSO's application to determine provisional LNG prices has fixed Delivered Ex-Shipment (DES) price of the commodity at $7.73 per MMBTU.
Pakistani authorities have conveyed to the International Monitory Fund (IMF) that income tax law has been amended to provide Federal Board of Revenue (FBR) full access to bank accounts and transactions to gather financial information of high wealth individuals and by end-January 2016 draft legislation against "benami" transactions would be submitted to National Assembly.


Index Closing Chg%
Arrow DJIA 16,912.29 0.73
Arrow Nasdaq 4,791.15 0.90
Arrow S&P 1,995.83 0.80
Arrow FTSE 6,336.35 0.16
Arrow DAX 9,970.40 0.68
Arrow CAC-40 4,667.34 0.14
Arrow Nikkei 18,322.98 0.75
Arrow H.Seng 22,515.76 3.13
Arrow Sensex 27,035.85 0.38

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln