Economic and Finance News
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Temporary Tax Exemption for Venture Capital Companies
ISLAMABAD (June 02 2006): The government is likely to give exemption of income tax for a specific period to the…
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SBP tightens rule on banks' securities purchases
KARACHI (May 31 2006): The State Bank of Pakistan has issued a circular bringing clarity to the classification of securities…
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Presumptive Tax System for Exporters to Continue
ISLAMABAD (May 29 2006): While turning down a proposal to bring exports into general assessment scheme, the government has decided…
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New Sales Tax Refund Rules to Expedite Payment
ISLAMABAD (May 29 2006): New sales tax refund rules would be introduced in the coming budget to minimise delay in…
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Import of Black cabs as CBU exempted from duty and taxes
ISLAMABAD (May 22 2006): The government has changed the criteria for import of 'black cabs', exempting the scheme from customs…
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CBR curtails powers of Directorate of Inspection and Internal Audit
ISLAMABAD (May 22 2006): The powers of the directorate of inspection and internal audit, customs, sales tax and federal excise…
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Change in Income Tax Ordinance 2001 to Check Misuse of Remittances
ISLAMABAD (May 21 2006): The government is examining a proposal to amend the Income Tax Ordinance 2001 for checking the…
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Sale of Union Bank to Standard Chartered Bank in process
KARACHI (May 17 2006): The Standard Chartered Bank (SCB) has initialled an agreement with a Saudi combine to acquire 66…
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Banks allowed to directly remit freight charges abroad
KARACHI (May 16 2006): The State Bank of Pakistan (SBP) has allowed the authorised dealers to effect remittances of locally…
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SBP reduces duty drawback on export of PVC
ISLAMABAD (May 07 2006): The Central Board of Revenue (CBR) has reduced duty drawback on export of Polyvinyl Chloride (PVC)…
