Rs69.5bn money laundering unearthed in solar panel imports KARACHI: The Directorate of Post Clearance Audit (PCA) South has uncovered massive money laundering in the solar... Updated 11 Jul, 2023 09:51am
Print Declaration of assets & liabilities: FBR sets deadline ISLAMABAD: The Federal Board of Revenue (FBR) has given a deadline of July 15, 2023 to all the officers of Inland... Updated 11 Jul, 2023 08:54am
Pakistan Indirect taxes fuelling poverty: PDP KARACHI: Opposing the idea of collecting radio license fee from the public through electricity bill, Pasban... Published 10 Jul, 2023 06:52am
Opinion Retrospective tax on windfall income discourages corporatization—II Whereas, if we compare the Indian windfall tax/duty to the Pakistani windfall tax, it is clear that Section 99D is... Published 10 Jul, 2023 06:52am
Print Pharmaceutical sector granted major tax relief ISLAMABAD: The government has provided major tax relief to the pharmaceutical sector by allowing the reduced rate of... Updated 10 Jul, 2023 08:51am
Opinion Call a spade a spade The refrain from the Prime Minister’s office prior to 23 June 2023 that all International Monetary Fund (IMF)... Updated 10 Jul, 2023 07:31am
Editorials Fiscal imbalance EDITORIAL: The gap between the boom-and-bust cycle is contracting in Pakistan, indicated by the staff-level ... Published 10 Jul, 2023 06:52am
Business & Finance Issuance of notice: IRO penalized for failing to observe due diligence ISLAMABAD: The Federal Board of Revenue (FBR) has imposed a penalty to stop six months “performance pay... Published 10 Jul, 2023 06:52am
Business & Finance Pakistani consumers pay highest energy tax: expert KARACHI: The hike in energy rates is the biggest issue of our economy, as we are the highest tax paying energy... Published 10 Jul, 2023 06:52am
Print Restaurants/eateries: Credit/debit card payments allowed at reduced 5pc ST ISLAMABAD: The government has taken a significant documentation measure by allowing credit/debt card payments at a... Updated 10 Jul, 2023 08:57am
Print Foreign suppliers’ accounts through customs bonded storage facilities: Guidelines for crude oil import issued ISLAMABAD: The Directorate General of Oil (Petroleum Division) has issued guidelines for import of crude oil on... Updated 10 Jul, 2023 08:58am
Opinion IMF lifeline The IMF staff and the Pakistani authorities have reached a staff-level agreement on policies to be supported by a... Published 09 Jul, 2023 02:55am
Print Pension received from abroad: FTO directs FBR to clarify taxation procedure ISLAMABAD: Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah, in a landmark order to facilitate pensioners, has issued... Updated 09 Jul, 2023 09:06am
Editorials ‘Reliable, consistent’ tax regime EDITORIAL: Tax reforms, rather the need for them, is (understandably) all the rage these days, considering the... Published 08 Jul, 2023 06:20am
Print FBR issues tax expenditure report-2023: More exemptions, concessions given during 2021-22 ISLAMABAD: The Federal Board of Revenue (FBR) has given more sales tax exemptions, zero-rating and concessions to... Updated 08 Jul, 2023 09:02am
Opinion Unaddressed economic challenges The debate and anxiety throughout Pakistan in the aftermath of the stalled Extended Fund Facility (EFF) programme... Updated 07 Jul, 2023 05:59am
Opinion Retrospective tax on windfall income discourages corporatization—I A new Section 99D has been introduced in the Income Tax Ordinance 2001 (“ITO”) through the Finance Act 2023... Updated 07 Jul, 2023 06:10am
Business & Finance LCCI holds seminar on federal budget 2023-24 LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) held a significant seminar titled “Post Budget ... Published 07 Jul, 2023 05:24am
Business & Finance Fraudulent clearances of imported goods: FBR urged to include representatives of SBP, Directorate of Customs Intelligence in body ISLAMABAD: The Directorate of Customs Reform and Automation has requested the Federal Board of Revenue (FBR) to... Published 07 Jul, 2023 05:24am
Business & Finance Non-resident applicants: IRIS to automatically process, issue exemption certificates ISLAMABAD: The Federal Board of Revenue’s electronic system (IRIS) will automatically process and issue exemption... Published 07 Jul, 2023 05:24am
Business & Finance Possible enforcement of Sec 99D of IT Ord: Litigation between FBR, sectors making windfall profits feared ISLAMABAD: Leading tax experts have apprehended that litigation will start between the Federal Board of Revenue ... Published 07 Jul, 2023 05:24am
Opinion SBA won’t cut it Fine, it was the single biggest one-day jump in the stock market in 15 years. But is it really that unbelievable,... Updated 06 Jul, 2023 06:20am
Opinion Super tax and tax on bonus: misinterpretation of basic accounting–II Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super... Updated 06 Jul, 2023 06:24am
Print FBR to ‘sell’ excise rules, general orders, departmental rulings to public ISLAMABAD: The Federal Board of Revenue (FBR) will “sell” federal excise rules, general orders and departmental... Updated 06 Jul, 2023 08:39am
Business & Finance LTO Karachi collects Rs2,076bn in FY2022-23 KARACHI: The Large Taxpayers Office (LTO), Karachi announced a remarkable achievement as it had collected Rs 2,076... Published 06 Jul, 2023 05:42am
Business & Finance Year-on-year: Number of complaints against FBR has doubled: FTO ISLAMABAD: The total number of complaints filed by taxpayers with the Federal Tax Ombudsman (FTO) against the ... Published 06 Jul, 2023 05:42am
Print SBP’s TERF during PTI govt’s tenure: PAC to examine list of 620 borrowers in camera ISLAMABAD: The Public Accounts Committee (PAC) in an in-camera meeting will examine the list of 620 individuals/... Updated 06 Jul, 2023 08:36am
Editorials There’s need for forging ahead on own steam EDITORIAL: Rating agency Moody’s has warned that Pakistan’s liquidity risks remain high in spite of the... Updated 06 Jul, 2023 06:14am
Pakistan Issuance of interest-free loans: PAC seeks list of firms, individuals benefited during PTI tenure ISLAMABAD: National Assembly’s Public Accounts Committee (PAC) on Tuesday sought the list of 620 individuals and... Published 05 Jul, 2023 06:00am
Opinion Super tax and tax on bonus: misinterpretation of basic accounting—I In the Finance Act 2023 many amendments have been proposed. This article is restricted to two important measures... Published 05 Jul, 2023 06:00am
Behind the screens: SECP probe into State Life’s equity investment process opens Pandora’s box at PSX?
In historic visit, Iran President Raisi says decision made to increase bilateral trade five-fold to $10bn