Banks to get exemplary punishment for over charging on LCs: Dr. Ayesha Ghous Pasha
Minister of State for Finance Dr. Ayesha Ghous Pasha wowed on Friday to give exemplary punishment to the commercial bank who were over charging on Letter of Credits (LCs) payments. Briefing the Senate Standing Committee on Finance and Revenue the minister of state said that the banks responsible for over charging would be fined heavily…
Adil Aziz
Chairman FBR holds E-Kachehri as part of FBR’s facilitation drive
Chairman Federal Board of Revenue (FBR) Asim Ahmad held an E-Kachehri at FBR (HQs) on Friday as part of FBR’s drive to facilitate taxpayers in tax compliance and to address their concerns. During this interactive session, Chairman FBR directly received telephone calls from taxpayers and listened to their issues and grievances. The Chairman issued on-spot…
Traders, retailers visit FBR to consult for tax issues
The representatives of Markazi Tanzeem e Tajiraan Pakistan visited Federal Board of Revenue(FBR) on Thursday to discuss the taxation issues with officials. The government has withdrawn the fixed tax on retailers through the recently promulgated Ordinance. Any new scheme of tax on retailers will be planned and implemented in consultation with the traders. The Chairman…
Importers of onion,tomatoes to be facilitated for ensuring price stability
The government has decided to facilitate the importers of onion and tomatoes in order to keep smooth supplies of the commodities and sustainably of prices in local markets. The decision to this effect was taken in a meeting held Ministry of National Food Security and Research (MNFSR), and decided that the ministry will issue import permits…
Air travel FED reduced to Rs30,000
To give relief to the rich/wealthy class, the government has decided to reduce the federal excise duty (FED) of Rs50,000 to Rs30,000 imposed on club, business, and first class international air tickets through the Finance Act, 2022. The government has reverted a major taxation measure of budget (2022-23) on the wealthy people of the country….
Ban on import of luxury items govt decides to release stuck goods
This is to come as one-time special permission for goods that have landed at ports or airports in Pakistan on or before June 30, 2022 The federal government has decided to release all those “stuck consignments” as one-time special permission, which have landed at ports or airports in Pakistan on or before June 30, 2022….
Miftah lauds FBR for achieving remarkable growth in revenues
During the fourth quarter (April-May-June), when the incumbent coalition government assumed power, Rs1741 billion revenues were collected, which showed 29 percent increase when compared to the collection of Rs1351 billion during the corresponding period of last year Federal Minister for Finance and Revenue, Miftah Ismail said here on Friday that the Federal Board of Revenue…
SECP registers 1,906 new companies in May 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919. This shows an increase of 19% as compared to corresponding period last year. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs3.5 billion. Foreign…
Govt committed to provide friendly environment to investors: Miftah Ismail
Federal Minister for Finance and Revenue, Miftah Ismail said here on Thursday that the incumbent government was committed to provide conducive and friendly environment to the investors and businessmen for the growth of economic activity and enhancement of exports. In a meeting with the Vice Chairman of Indus Motor Company, Shini Yanagi, the Finance Minister…
SECP registers 2,345 new companies in April
The Securities and Exchange Commission of Pakistan (SECP) registered 2,345 new companies in April 2022 raising the total number of registered companies to 168,030. This shows an increase of 7% as compared to corresponding period last year. The total number of registered companies now stands at 168,030. Total capitalization (paid-up-capital) with regard to newly incorporated…