Govt considering proposal to tax ‘gifts’ among non-family members
LAHORE: A tax to be levied on gifts given to non-family members by taxpayers is under the federal government's consideration, reported a...
Sindh sales tax collection up 44pc
LAHORE: The collection of sales tax in Sindh was recorded at Rs9.29 billion in March, up 44 per cent compared to Rs6.69...
Rs607 bn released for development projects under PSDP 2017-18
ISLAMABAD: The government has released over Rs607.44 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes...
Upcoming Punjab budget to be agriculture friendly
LAHORE: Punjab’s finance minister Dr. Ayesha Ghaus Pasha on Friday told journalists that its forthcoming budget for financial year 2018-19, would raise...
FBR proposes rise in taxes on edible oil imports
ISLAMABAD: A rise in taxes on import of edible oil in next financial year's budget for 2018-19 has been requested by the...
Punjab to impose 5 percent tax on Uber, Careem in upcoming FY 2018-19 budget
LAHORE: Punjab’s next financial year’s 2018-19 budget is expected to introduce taxes for ride-hailing services like Uber and also rent-a-car services.
The provincial...
Govt contemplating decreasing income tax rates for salaried class in upcoming budget
ISLAMABAD: The incumbent government is contemplating to decrease income tax rates for salaried class individuals in the upcoming budget, aiming to reduce...
PAMA calls for reducing input tax rate on tractors
KARACHI: Pakistan Automotive Manufacturers Association (PAMA) has requested the government to reduce the input tax rate on tractors, which is resulting in a...
ICAP calls on prime minister, stresses need for tax reforms
KARACHI: A delegation of Institute of Chartered Accountants of Pakistan (ICAP) led by its President Riaz A Rehman Chamdia called on Prime...
FBR contemplating to remove inconsistency in AIT collection for edible oil sector
ISLAMABAD: The Federal Board of Revenue (FBR) is said to be reviewing a budget proposal for eliminating an inconsistency in the edible...
LHC stops government from implementing Audit Policy 2016
ISLAMABAD: The Lahore High Court (LHC) has stopped the federal government from implementing new audit policy due to transparency fears in selection...
Imposition of regulatory duties failed to rein in imports
KARACHI: Experts on Thursday stated the imposition of regulatory duties on imports of non-essential imports failed to rein in the current account...
Revised wealth statement form provides loophole to hide overseas assets
ISLAMABAD: Revisions made in the wealth statement form a year back have decreased the disclosure requirements for individuals having offshore assets and...
Revisions in aid to Pakistan unlikely to shake its finances: Moody’s
LAHORE: International rating agency Moody’s Investors Service (Moody’s) has maintained that Trump administration’s revision of US military aid is highly unlikely to...
FBR, NTC sign MoU for electronic exchange of information
ISLAMABAD: Federal Board of Revenue (FBR) and National Tariff Commission (NTC) have signed a Memorandum of Understanding (MoU) for the exchange of...