Economic and Finance News
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CBR barred from auditing PIA income tax return
ISLAMABAD (August 02 2005): Federal Tax Ombudsman (FTO) former Justice Munir A. Sheikh has stopped audit of PIA's income tax…
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President endorses CITs authority for audit
ISLAMABAD (August 01 2005): Endorsing the CBR's verdict on audit under the Universal Self-Assessment Scheme (USAS), President Pervez Musharraf has…
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SBP allows change in MCB name
KARACHI (July 31 2005): The State Bank of Pakistan has allowed change in the name of Muslim Commercial Bank as…
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PSO profit may depict 40 percent growth in fiscal year 2005
KARACHI (July 28 2005): Pakistan State Oil Limited (PSO) is expected to report a 40 percent growth in its earnings…
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UBL earnings may double
KARACHI (July 28 2005): United Bank net earnings for the six months ended on June 30, 2005, would be more…
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Engro Chemicals declares 30 percent dividend on 50 percent profit rise
KARACHI (July 28 2005): Engro Chemicals profit in the six months ended June 30, 2005, rose by 50 percent because…
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CBR clarifies withholding tax on ship-breaking
ISLAMABAD (July 28 2005): To facilitate the ship-breaking industry, the Central Board of Revenue (CBR) has announced that one percent…
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14 sugar mills sales tax audit started
ISLAMABAD (July 26 2005): Special audit of 14 sugar mills is underway to ascertain actual sales tax liability of this…
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SECP defers transfer pricing till December 31
KARACHI (July 26 2005): The Securities and Exchange Commission of Pakistan (SECP) has granted further exemption from application of clause…
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Textile units sales tax refund claims to be verified
ISLAMABAD (July 25 2005): The Central Board of Revenue (CBR) has decided to issue sales tax refund to textile sector…
