The Federal Board of Revenue (FBR) Member Inland Revenue Operations Seema Shakeel has said that the banks are still reluctant to provide withholding data of the accountholders under cover of the secrecy laws.
The Securities and Exchange Commission of Pakistan (SECP) has relaxed key compliance requirements for the non-banking finance companies (NBFCs) including extension up to May 31, 2020, for submission of the quarterly financial statements.
The Federal Board of Revenue (FBR) would be able to achieve the downward revised target of Rs3,908 billion for current fiscal year on the assumption of restoration of economic activity in the coming Ramazan and Eid.
The Competition Commission of Pakistan (CCP) is legally empowered to proceed against companies in public interest for creating a level-playing field to enhance economic efficiency and to protect consumers from anti-competitive behaviour.
The Federal Board of Revenue (FBR) will not allow a shareholder or a partner of a builder or developer to change the ownership of an incomplete project for claiming exemption from Section 111 (source of investment) of the Income Tax Ordinance 2001.
The Federal Board of Revenue (FBR), security and intelligence agencies would be fully empowered to enforce Prevention of Smuggling Ordinance 2020 within the country for checking smuggling of foreign currency, gold, sliver, sugar, onion, rice, pulses, whea
Despite tall claims of the Federal Board of Revenue (FBR) for refund payments within 72 hours, exporters of seasonal products are still unable to file Annexure-H (stock statement) required for claiming speedy refunds under the FASTER system, resulting in
The government should allow developers and builders to deposit project investment money in the escrow accounts instead of bank accounts to claim exemptions from probing source of investment under section 111 of the Income Tax Ordinance 2001.
The International Monetary Fund (IMF) has revised projection of Federal Board of Revenue (FBR) tax collection of Rs 4.8 trillion pre-Covid-19 to Rs 3.908 trillion post Covid-19 for the current fiscal year, reflecting a decrease of Rs 0.892 trillion.
The Federal Board of Revenue (FBR) has announced income tax exemption on commission received by a retail branchless banking agent on any amount disbursed by the Ehsaas Emergency Cash Transfer Programme from April 16, 2020 to June 30, 2020.
The Presidential Ordinance to introduce harsh punishments for hoarders/smugglers of consumer items, edible goods, essential food commodities and masks/sanitizers etc, has been drafted and now been moved to the federal cabinet members for approval. It has
The Securities and Exchange Commission of Pakistan (SECP) has directed futures exchange, central depository and securities exchange not to appoint or retain any person as senior management officer who is above 60 years of age.
The Securities and Exchange Commission of Pakistan (SECP) has revised investment policy for pension funds, according to which the time of maturity of any government Ijarah Sukuk shall not exceed five years in case of Shariah-compliant money market sub-fun
The government is likely to eliminate Fifth Schedule (conditional exemption of customs duty) of the Customs Act, 1990, introduce zero percent customs duty slab and withdraw additional customs duty and regulatory duties in phases under tariff rationalizati
The Securities and Exchange Commission of Pakistan (SECP) has stopped inspection of documents/record of companies and announced continuation of closure of its Company Registration Offices (CROs) across Pakistan.