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Sohail Sarfraz

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Sales tax refunds: Exporters concerned at delay in payment

Exporters have expressed serious concern over prolonged delay in payment of sales tax refunds under the newly introduced system, "Faster", of the Federal Board of Revenue (FBR). According to the FBR's data, out of total refund claims of Rs24.281 billion f
Published 10 Feb, 2020 12:00am
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FBR can collect only Rs 4.5 trillion, IMF told

The Federal Board of Revenue (FBR) Tuesday informed International Monetary Fund (IMF) that the tax machinery would be able to collect around Rs 4.5 trillion during 2019-20 keeping in view current economic situation and without taking additional revenue me
Published 05 Feb, 2020 12:00am
Business

All refund cases audited, subjected to scrutiny: FBR

Federal Board of Revenue (FBR) Monday categorically declared that processing of the case may take time but it is certain that all refund cases are audited and subjected to scrutiny. According to the FBR's response to the allegations of issuance of refunds
Published 04 Feb, 2020 12:00am
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SECP reduces minimum net worth requirement for TSC brokers

The Securities and Exchange Commission of Pakistan (SECP) on Monday reduced minimum net worth requirement for the Trading & Self-Clearing (TSC) brokers from Rs 150 million to Rs 75 million under the plan to provide maximum facilitation to market participa
Published 04 Feb, 2020 12:00am
Pakistan

DG I&I (IR) can't issue directives: ATIR

In a landmark judgment, Appellate Tribunal Inland Revenue (ATIR) has reprimanded Directorate of Intelligence and Investigation (I&I) Inland Revenue (IR) that the DG I&I has become a supra constitutional body and acts in an unbridled manner.
Published 03 Feb, 2020 12:00am
Ailing FBR chief to meet doctors today
Business

Ailing FBR chief to meet doctors today

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said on Thursday that he will decide to avail sick leave after consulting his doctor on Friday (January 31).
Updated 31 Jan, 2020 04:28am