Economic and Finance News
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Redundant provisions in ITO 2001 related to dividend tax to be deleted
ISLAMABAD (June 09 2008): The Federal Board of Revenue (FBR) is likely to amend the Income Tax Ordinance 2001 in…
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Current tax regime to fetch more revenue than CGT: KSE managing director
KARACHI (June 05 2008): The government's decision to retain the current tax regime for capital markets will contribute more revenue…
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Raise in withholding tax on cash withdrawal likely
ISLAMABAD (June 05 2008): The government is likely to withdraw 'time-bound exemptions,' substantially reduce income tax exemptions; raise withholding tax…
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CGT exemption extended to 2010, no change in CVT
KARACHI (June 04 2008): The government has agreed to extend exemption of Capital Gain Tax (CGT) on listed shares to…
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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…
