News
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KPMG elects Timothy P. Flynn its new chairman and CEO
The board of directors of KPMG LLP, the audit, tax and advisory firm, elected Timothy P. Flynn, 48, as chairman…
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Cabinet disallows withholding tax on cars and CED on bank fees
ISLAMABAD (June 08 2005): The Cabinet did not approve 6 percent withholding tax on locally manufactured cars and 7.5 percent…
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Adjudication collectorates to be abolished
ISLAMABAD (June 08 2005): Central Board of Revenue (CBR) chairman Abdullah Yousuf said that the CBR has decided to abolish…
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Budget 2005-06: Income tax rates reduced for salaried class
ISLAMABAD (June 07 2005): The Federal Government has reduced the income tax for salaried persons where the income chargeable under…
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Budget 2005-06: Duty on 1,870 items reduced, 16 enhanced
ISLAMABAD (June 07 2005): The government has reduced customs duty on the import of 1,870 items and duty on 16…
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Budget 2005-06: Spurious refunds on exports to go
ISLAMABAD (June 07 2005): The Central Board of Revenue (CBR) has announced a new scheme for the textile industry by…
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Budget 2005-06: Capital gains exemption, tax cut boon for capital market
KARACHI (June 07 2005): The government's decision to allow tax exemption to insurance sector, abolition of customs duty on imports…
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Economic Survery 2004-05: Fastest pace of growth in 20 years
ISLAMABAD (June 05 2005): Pakistan's per capita income in dollar terms rose by 12 percent to $736 from $657 in…
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CBR taxes to hit data service providers
KARACHI (June 05 2005): The Central Board of Revenue (CBR) plan to bring telecom and data service providers into tax…
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Capital Value Tax (CVT) rate to be raised to 0.1 percent
ISLAMABAD (June 04 2005): The government will increase capital value tax (CVT) on shares buying from 0.01 percent to 0.1…
