Economic and Finance News
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Withholding Tax Statements Filed by Agents u/s 165 of ITO to be Desk Audited
ISLAMABAD Â (November 02, 2010) –Â The withholding tax (WHT) statements filed by the withholding agents under section 165 of the Income…
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SECP Extends Validity Periods of CRS and CEES
ISLAMABAD Â (November 02, 2010) –Â The Securities and Exchange Commission of Pakistan (SECP) has further extended the validity period of the…
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SBP Revises Minimum Paid-up Capital Requirement (MCR) for Banks to Rs.10 Billion
KARACHI (October 14, 2010) – The State Bank of Pakistan (SBP) has enhanced the minimum paid up capital requirement (MCR)…
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Standard Rate for Reformed General Sales Tax (RGST) Proposed
ISLAMABAD (October 12, 2010) – The standard rate of sales tax under the reformed general sales tax (RGST) has been…
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Highlights of the the Federal Budget 2010-11
KARACHI (June 06, 2010) – The finance minister yesterday announced the federal budget for 2010-2011 in the parliament. The highlights…
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FBR Waives Annual Sales Tax Audit Requirement for Steel Melters/ Re-rollers
ISLAMABAD (May 26, 2010) – The Federal Board of Revenue (FBR) has withdrawn the condition of compulsory sales tax audit…
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SECP Act 2010 Draft Proposal: Destruction of documents to be a serious offense
ISLAMABAD (May 26, 2010) – Securities and Exchange Commission of Pakistan Act 2010 will consider destruction of documents by companies…
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Documents not needed for Sales Tax refund through Electronic Refund Claim: FBR
ISLAMABAD (May 14, 2010) – The Federal Board of Revenue has abolished condition for submission of documents including invoices, credit…
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SBP exempts Microfinance Banks' time deposits from Cash Reserve Requirement
KARACHI (May 14, 2010) – State Bank of Pakistan (SBP) has decided to exempt time deposits of one-year tenor and…
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VAT Regime: Verification of Invoices Biggest Challenge for FBR
ISLAMABAD (April 20, 2010) – The verification of invoices and cross-matching of reported sales and purchases within the entire supply…
