Economic and Finance News
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New anti-laundering law dilutes Swiss banking secrecy
KARACHI (May 28 2003) : Beginning from July this year the legendary Swiss banking secrecy, bank-client confidentiality, the centrepiece of…
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CBR consultants proposals not to be part of budget
ISLAMABAD (May 28 2003) : The government would not incorporate any proposal of Central Board of Revenue (CBR) consultants, Maxwell…
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Second phase of reforms will need focus on Wapda, KESC and CBR: SBP governor
ISLAMABAD (May 28 2003) : The second phase of reforms, from 2003-05, would require reforms in Wapda and KESC, CBR…
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CBR issues draft of new income tax forms and certificates
ISLAMABAD (May 28 2003) : To collect complete information from the taxpayers, the Central Board of Revenue (CBR) has circulated…
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Large Taxpayer Unit to introduce electronic filing system from July 1
The Large Taxpayer Unit (LTU) is to introduce electronic filing system of income statements from July 1 to save time…
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Restaurants allowed power bill as input adjustment
The Central Board of Revenue (CBR) has allowed the registered restaurants to claim input tax adjustment on the electricity consumed…
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Next budget to check withholding tax evasion
The government has decided to take preventive measures in budget 2003-04 to check the illegal withholding tax exemption claims on…
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Tax system to be further simplified
Tax system would be further streamlined by the Central Board of Revenue (CBR) in order to remove ambiguities and simplify…
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KESC gets Rs one billion as first tranche for restructuring
KARACHI (May 26 2003) : The Karachi Electric Supply Corporation (KESC) has received the first tranche of Rs one billion…
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Govt borrowing through TBs shoots up to 23pc
The stock of government debt raised through treasury bills has risen to Rs403 billion by March 2003 from Rs208 billion…
