PSMA requests FBR to withdraw SRO 501(1)/2023 LAHORE: The Pakistan Steel Melters Association (PSMA) on Wednesday raised serious concern that the Federal Board of... Published 11 May, 2023 05:54am
Print Revision in GST returns due to FBR FASTER glitches: Refusing exporters’ requests tantamount to maladministration: FTO ISLAMABAD: The Federal Board of Revenue (FBR) has committed a serious nature of maladministration by refusing... Updated 09 May, 2023 09:13am
Print Import items: AEDB seeks ST exemption for ARE projects Govt plans to develop large-scale solar PV projects for substitution of expensive thermal power generation of approximately 6000-MW capacity Updated 07 May, 2023 09:41am
Business & Finance Stock-in-trade: tax officials attract accusation LAHORE: Income tax officers are accused of calculating stock-in-trade of sales tax returns in the income tax returns... Published 03 May, 2023 06:35am
Business & Finance Steel, plastic, ghee, other sectors: Tribal area tax exemptions expire on June 30 ISLAMABAD: The tax exemptions granted to the industrial units of iron/ steel, plastics, ghee, textile and other... Published 30 Apr, 2023 05:10am
Pakistan AGP detects Rs158.7m malfeasance in ASF Foundation accounts KARACHI: The Auditor General of Pakistan (AGP) has detected serious financial irregularities of Rs158.7 million in... Published 27 Apr, 2023 06:24am
Opinion The grim challenge of import addiction We are addicted to foreign goods. As a child I remember hankering for foreign chocolates and toffees, as an adult I... Updated 27 Apr, 2023 07:06am
Business & Finance Smart licences for arms attract 18pc GST rate: FBR ISLAMABAD: The Federal Board of Revenue (FBR) has declared that computerised arms licenses in the form of cards... Updated 27 Apr, 2023 09:01am
Business & Finance Traders for reduction in ST rate, against double taxation ISLAMABAD: Traders have proposed reducing the sales tax to single digit, phase wise, besides demanding that double... Published 26 Apr, 2023 06:15am
Business & Finance Six locally-produced steel goods: FBR increases minimum value of supply ISLAMABAD: The Federal Board of Revenue (FBR) has considerably increased the minimum value of supply of six... Published 21 Apr, 2023 05:56am
Business & Finance PRA’s enforcement wing attracts allegations of dual taxation LAHORE: The enforcement wing of Punjab Revenue Authority (PRA) is accused of raising tax demands on account of... Published 20 Apr, 2023 06:30am
Business & Finance Cigarette industry: FBR seeks to generate extra Rs185bn revenue thru FED, GST ISLAMABAD: The Federal Board of Revenue (FBR) has estimated to generate additional revenue of around Rs185 billion... Published 19 Apr, 2023 06:36am
Opinion Place of Provision of Sales Tax on Services Rules 2023 Introduction: In Pakistan, sales tax on value-added basis is levied both on goods and services. There are numerous... Updated 18 Apr, 2023 07:01am
Print Transportation services or carriage of goods thru roads: Provinces notify formula for sales tax ISLAMABAD: All four provinces have notified that the amount of sales tax would be equally shared by those provinces... Updated 17 Apr, 2023 08:49am
Business & Finance Remaining period of 2022-23: FBR can overcome shortfall through recovery steps: FTO ISLAMABAD: The Federal Tax Ombudsman (FTO) on Friday strongly recommended the Federal Board of Revenue (FBR) to... Published 15 Apr, 2023 06:58am
Print World Bank ties recurrent budget shortfall to low fiscal revenue ISLAMABAD: Persistent low fiscal revenue is one of the drivers of Pakistan’s recurrent budget shortfall, as total... Updated 14 Apr, 2023 12:35pm
Print Move to incentivise e-bikes: ECC set to consider three options today ISLAMABAD: The Economic Coordination Committee of the Cabinet, which is scheduled to meet on Thursday (Apr 13), is... Updated 13 Apr, 2023 08:44am
Business & Finance KP jewellers reject PoS system, imposition of ‘3 percent’ sales tax PESHAWAR: Traders attached with jewellery and gems sector in Khyber Pakhtunkhwa have rejected the imposition of 3... Published 12 Apr, 2023 06:11am
Print ST through power bills: Only 0.133m retailers file tax returns ISLAMABAD: Only 0.133 million retailers filed their income tax returns out of 2.3 million retailers who paid sales... Updated 11 Apr, 2023 10:07am
Business & Finance PHMA urges FBR to expedite disbursement of sales tax refunds LAHORE: The Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Saturday asked the Federal Board of... Published 02 Apr, 2023 03:02am
Pakistan LHC allows appeal of Millat Tractors LAHORE: The Lahore High Court allowed an appeal of Millat Tractors Limited and held that SRO 563 does not apply to... Published 01 Apr, 2023 06:21am
Business & Finance Towel makers demand release of ST refunds KARACHI: The Chairman of the Towel Manufacturers Association of Pakistan, Tahir Jahangir stated that the month of... Published 01 Apr, 2023 06:21am
Print Collection of sales tax on services: Centre, provinces agree on ‘place of supply rules’ ISLAMABAD: The federation and provinces were unanimous on the common rules in place of supply (Place of Supply ... Updated 29 Mar, 2023 09:10am
Print Tax evasion: FBR admits it lacks capacity to analyse big data ISLAMABAD: The Federal Board of Revenue (FBR) has admitted that the tax machinery lacks the capacity to analyse big... Updated 28 Mar, 2023 08:46am
Business & Finance KTBA requests SRB to reverse ‘portal changes’ KARACHI: Karachi Tax Bar Association (KTBA) has requested the Sindh Revenue Board (SRB) to reverse the change made ... Published 28 Mar, 2023 06:21am
Pakistan Issue of sales tax value on sugar supply still pending in LHC ISLAMABAD: The Federal Board of Revenue (FBR) has not fixed the minimum value on the supply of sugar for sales tax... Published 24 Mar, 2023 05:55am
Print Jan, Feb 2023: FBR pays Rs45bn to exporters despite slow FASTER system ISLAMABAD: The Federal Board of Revenue (FBR) has never stopped payment of sales tax refunds under the FASTER system... Updated 21 Mar, 2023 08:55am
Print Exporters detect ‘flaws’ in FBR’s new refund procedure ISLAMABAD: Prominent exporters have pointed out some serious flaws in the revised procedure of the Federal Board of... Updated 20 Mar, 2023 08:59am
Print Slow pace of $304m PRIDE programme perturbs World Bank ISLAMABAD: The World Bank (WB) has expressed concern over the slow pace of the progress on simplification and... Updated 20 Mar, 2023 08:58am
Print Specified goods, services: FBR disallows ST refunds to 5 export-oriented sectors KARACHI: Federal Board of Revenue (FBR) has disallowed the sales tax refunds of number of specified goods and... Updated 18 Mar, 2023 09:12am