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Sohail Sarfraz

Pakistan

Government likely to rationalise taxes on telecom sector

The government is expected to rationalise taxes on telecom sector in the coming budget (2020-2021) and review budget proposals of the Pakistan Telecom Authority (PTA) to harmonize service sales tax (SST) 19.5 percent and the federal excise duty (FED) 17 p
Published 14 Apr, 2020 12:00am
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Commissioners must complete refund process this week: FBR

In a major move to expedite processing of sales tax refund claims of exporters, the Federal Board of Revenue (FBR) Monday directed the chief commissioners to immediately deploy all resources for completion of process during the current week, keeping in vi
Published 14 Apr, 2020 12:00am
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FBR starts budget preparation process

Given no apparent end in sight in the growing number of coronavirus cases across Pakistan, in an unprecedented move the Federal Board of Revenue (FBR) has started budget preparation exercise by seeking tax proposals from the chief commissioners and collec
Published 11 Apr, 2020 12:00am
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Steel melting industry expresses its surprise over issuance of SRO

Steel melting industry has expressed surprise over issuance of S.R.O. 295(I)/2020 by the Federal Board of Revenue (FBR) during the ongoing lockdown without any input of the industry, seeking additional information of electricity consumption in the monthly
Published 11 Apr, 2020 12:00am
Markets

SECP relaxes major provisions of NBFCs

The Securities and Exchange Commission of Pakistan (SECP) on Friday relaxed major provisions of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 to facilitate the asset management companies during the coronavirus pandemic.
Published 11 Apr, 2020 12:00am
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Refund payments: 'Queue' system not being properly followed

After replacement of the FASTER system with "queue" system for refund payments, certain field formations of the Federal Board of Revenue (FBR) are not following queue in processing of sales tax refunds to the exporters under the prime minister's package f
Published 09 Apr, 2020 12:00am
Business

STOAP for redressing grievances of Sales Tax officers

Welcoming the new chairperson Federal Board of Revenue (FBR) Nausheen Amjad Javed, the Sales Tax Officers Association (STOAP) Tuesday requested tax authorities to redress the grievances of the officers of sales tax specifically the delayed issue of promot
Published 08 Apr, 2020 12:00am