News
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CBR clarification about income tax returns under USAS
ISLAMABAD (December 23 2003): Persons having landline phones/mobile phone connections having annual income below the taxable limit should not hesitate…
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Pricewaterhouse Settles Billing Case
Accounting giant PricewaterhouseCoopers has agreed to a $54.5 million settlement in a case that charged it and other major accounting…
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KPMG Criticizes Court's Enron Report
Big Four accounting firm KPMG said a critical report by an independent examiner in Enron Corp.'s bankruptcy accusing the firm…
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CBR to withdraw contravention cases: SRO 554/98 interpretation
ISLAMABAD (December 20 2003): The Central Board of Revenue (CBR) has decided to withdraw contravention cases against all exporters who…
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Revenue Board issues procedure for blacklisting units
ISLAMABAD (December 21 2003): The Central Board of Revenue (CBR) has empowered the collectors of sales tax to blacklist any…
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ICMAP calls for increased role of cost auditors
The Institute of Cost and Management Accountants of Pakistan (ICMAP) has recommended to the Central Board of Revenue (CBR) that…
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CBR withdraws Yellow Cab Scheme SRO
ISLAMABAD (December 19 2003): The Central Board of Revenue (CBR) has withdrawn SRO of 1991 regarding the “Yellow Cab Scheme”…
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ITIS solely for tax base broadening
ISLAMABAD (December 18 2003): The indigenously developed 'Integrated Tax Information System' (ITIS) would solely be used for broadening the tax…
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FASB Issues Exposure Drafts to Support Convergence of Global Accounting Standards
The Financial Accounting Standards Board (FASB) in the USA will issue four Exposure Drafts that would improve U.S. generally accepted…
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IASB issues revised standards 32 and 39 focussing on Financial Instruments
The International Accounting Standards Board (IASB) has issued revised versions of its two Standards dealing with financial instruments. IAS 32…
