Trends - Sales Tax - Business Recorder

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‘Mini-budget’

EDITORIAL: The revenue measures as revealed in the ‘mini-budget’ were expected as Finance Minister Ishaq Dar had...

Published 17 Feb, 2023 06:00am

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IMF programme & reforms

Pakistan, one of the major victims of climate change, is fighting alone to manage the damages caused due to...

Published 17 Feb, 2023 06:00am

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The Finance (Supplementary) Bill 2023: a comment

General: The Finance Minister has laid Finance (Supplementary) Bill 2023 on the floor of the Parliament. (National...

Published 17 Feb, 2023 06:00am

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POL products’ prices jacked up

ISLAMABAD: The federal government Wednesday increased the prices of petroleum products up to 8.8 percent with effect...

Updated 16 Feb, 2023 08:57am

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Big taxation measures taken through money bill

Govt has dropped proposals to raise FED on imported and locally-manufactured cars and energy drinks

Updated 16 Feb, 2023 10:48am

Business & Finance

ST dept accused of violating limitation period with FBR’s approval

LAHORE: The sales tax department is violating the limitation period of five years for issuing show cause notices to...

Published 16 Feb, 2023 06:08am

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To be presented in parliament today: Cabinet approves Finance Supplementary Bill

ISLAMABAD: A meeting of the Federal Cabinet has approved the Finance Supplementary Bill 2023 to be presented in the...

Published 15 Feb, 2023 07:20am

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FED on cigarettes doubled

ISLAMABAD: The government has started the implementation of the mini-budget late Tuesday night by doubling the...

Updated 15 Feb, 2023 08:58am

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FTO orders FBR to initiate probe into ‘tractor fraud’

ISLAMABAD: The Federal Tax Ombudsman (FTO) has issued an order in favour of poor growers/ farmers community of Sindh...

Updated 13 Feb, 2023 09:19am

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Presidential directives: FBR to give explanation to FTO

ISLAMABAD: On the directions of President Arif Alvi, the Federal Board of Revenue (FBR) is bound to give an...

Updated 13 Feb, 2023 09:07am

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Reprocessing waste transformer oil: Tax notices withdrawn against Pakistan Wapda Foundation

LAHORE: The Federal Board of Revenue (FBR) has withdrawn notices of excise duty and sales tax against Pakistan Wapda...

Published 12 Feb, 2023 03:56am

Business & Finance

Refund systems of FASTER: FTO recommends FBR to develop adequate safeguards

ISLAMABAD: Federal Tax Ombudsman (FTO) has strongly recommended the Federal Board of Revenue (FBR) to conduct...

Published 11 Feb, 2023 05:57am

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New taxation measures of nearly Rs300bn finalised

ISLAMABAD: The Federal Board of Revenue (FBR) has finalised proposals for new taxation measures of nearly Rs 300...

Updated 10 Feb, 2023 08:55am

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First six months: Fiscal deficit swells to 2pc of GDP

ISLAMABAD: Fiscal deficit has been recorded at two per cent of the GDP or Rs1,683 billion during the first six ...

Updated 09 Feb, 2023 08:41am

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Rs650bn collection likely: 1pc hike in ST thru ordinance on the cards

ISLAMABAD: The Federal Board of Revenue (FBR) has estimated to collect Rs650 billion during Feb-June (2022-23) by...

Updated 08 Feb, 2023 09:08am

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A reminder of the flaws in economic policies

EDITORIAL: Match the rise in taxes to a cut in government expenditure is a cry gathering momentum not only amongst...

Published 01 Feb, 2023 05:58am

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IMF conditionalities: Govt raises fuel prices in a gesture of compliance

ISLAMABAD: The government has announced to increase the prices of petroleum products by Rs 35 (petrol, diesel) and...

Updated 30 Jan, 2023 09:27am

Business & Finance

RTO continues operations against tax evaders

PESHAWAR: Regional Tax Office (RTO) Peshawar’s, Federal Board of Revenue (FBR) mobile squad has continued...

Published 30 Jan, 2023 05:56am

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Govt may exempt solar equipment from all taxes

ISLAMABAD: The government is likely to exempt solar equipment from all taxes aimed at achieving the target of 10,000...

Updated 27 Jan, 2023 09:04am

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Rs300bn taxation measures thru Ord on the way

FBR drafts proposals of new taxation measures to be enforced through the promulgation of the Tax Laws Amendments Ordinance, 2023

Updated 26 Jan, 2023 09:49am

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POL products: additional Rs76bn revenue can be generated thru PL maximization to Rs50 per litre

ISLAMABAD: The government has projected to collect Rs 76 billion additional revenue if it maximizes the petroleum...

Updated 25 Jan, 2023 08:56am

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Cement manufacturers: Implementation of track-and-trace system delayed

ISLAMABAD: The implementation of the track and trace system at the cement manufacturers has been delayed for the ...

Published 24 Jan, 2023 07:09am

Business & Finance

RTO Peshawar intensifies operations against sales tax evaders

PESHAWAR: The Chief Commissioner Inland Revenue, Regional Tax Office, Peshawar, Aqeel Ahmad Siddiqui has directed ...

Published 23 Jan, 2023 05:57am

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Single returns portal: Failure to make portal functional for GST officials irks World Bank

ISLAMABAD: The World Bank (WB) has expressed concerns that the single returns portal has not yet become fully...

Updated 23 Jan, 2023 09:19am

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Sales tax calculation: Not fixing minimum value of sugar to affect FBR revenue

ISLAMABAD: The Federal Board of Revenue (FBR)’s decision of not fixing the minimum value on the supply of sugar ...

Updated 21 Jan, 2023 08:52am

Business & Finance

FTO directs LTO Karachi to refund extra ST paid on vehicles to BOP

ISLAMABAD: To facilitate car buyers, the Federal Tax Ombudsman (FTO) has directed the Large Taxpayer Office (LTO)...

Published 20 Jan, 2023 07:50am

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New tax raising steps under consideration

Proposed measures include increase in rates of withholding taxes, more indirect taxation, three percent flood levy on imports, and tax on banks’ foreign exchange income

Updated 18 Jan, 2023 12:40pm

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State revenue: FTO directs FBR to implement effective mechanism

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to implement an effective...

Updated 18 Jan, 2023 08:44am

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Rs550bn tax gap largely falls in five sectors: FBR

ISLAMABAD: The huge sales tax gap of Rs 550 billion largely falls in food, beverages, tobacco, textile, wholesale...

Updated 15 Jan, 2023 03:16pm

Markets

Oil prices may be kept unchanged

ISLAMABAD: Based on the existing petroleum levy (PL) and general sales tax (GST) on petroleum products, an estimated...

Published 14 Jan, 2023 06:22am