Finance
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No withholding tax deduction for making payments to banking companies
ISLAMABAD (March 01 2008): There is no requirement in the Seventh Schedule (banking schedule) of the Income Tax Ordinance 2001…
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FBR Abolishes Bank Endorsement Condition on Good for Payment
ISLAMABAD (February 28 2008): The Federal Board of Revenue (FBR) has abolished condition of bank's endorsement (good for payment) on…
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Bank of Punjab seeking Licence to Launch Islamic Banking Services
LAHORE (February 27 2008): The Bank of Punjab (BoP) has applied to the State Bank of Pakistan (SBP) for the…
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Special Excise Duty Adjustment: FBR to Remove Confusion
ISLAMABAD (February 27 2008): The Federal Board of Revenue (FBR) will remove the confusion about the issuance of invoices by…
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Commercial importers to file goods declarations through clearing agents
ISLAMABAD (February 24 2008): The Federal Board of Revenue (FBR) has decided to abolish the condition of bachelor degree (BA)…
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Non-filers of Sales tax Returns to be De-registered
ISLAMABAD (February 25 2008): The Federal Board of Revenue (FBR) has decided to cancel the sales tax registration of all…
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FBR seeks cash withdrawal data to increase WHT collection from SBP
ISLAMABAD (February 13 2008): To increase withholding tax collection, the Federal Board of Revenue (FBR) has approached the State Bank…
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FBR Empowers Customs Collectors to Block Import Consignments
ISLAMABAD (February 29 2008): The collectors of customs have been empowered to block import consignments where the businessman is unable…
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Foreign investors seek 'advance ruling' on income tax
ISLAMABAD (September 15 2007): Top foreign investors, including an international hotel chain and a beverage company, have approached the Federal…
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Advance payments against L/Cs: SBP liberalises foreign exchange regime
KARACHI (September 14 2007): The State Bank of Pakistan (SBP) on Thursday allowed advance payments against letters of credit (L/Cs)…
