The Inland Revenue officers of the Federal Board of Revenue (FBR) have been given unlimited powers to arrest any person against the charges of the concealment of income. Under the Finance Bill, 2021, the FBR has proposed Section 203A (Power to arrest and prosecute) in the Income Tax Ordinance 2001. Section 184 (Penalty for concealment …
FBR Inland Revenue Officers Allowed to Arrest Anyone Hiding Their Income Read More »
State Bank of Pakistan has proposed revision in the regulatory framework for the exporters to facilitate them with export goods through digital marketplaces such as Amazon, eBay, Alibaba, etc. under Business to Business to Consumer (B2B2C) e-Commerce models. These changes aim at promoting ease of doing business by simplifying the existing instructions in the foreign …
SBP Devises Framework to Help Sellers on Amazon, eBay and Alibaba Read More »
The SECP has submitted seven proposals to the FBR and has highlighted that rationalisation of taxes would also help implement the government’s tax reforms under the Capital Market Development Plan and Future Roadmap 2020-27. — Photo courtesy SECP website ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has submitted proposals to the Federal Board …
SECP Proposes Rationalisation of Tax for Corporate Sector Read More »
The government is presenting the next fiscal year’s budget with a total outlay of over Rs. 8 trillion. Unveiling the federal budget for FY22, finance minister Shaukat Tarin started off the national assembly session by recalling the state of the economy that the Pakistan Tehreek-e-Insaf (PTI) government had received when it came into power. He …
Highlights, New Taxes and Relief Measures from Pakistan’s Budget 2021-22 Read More »
Pakistan is making substantial progress in developing its financial sector, as revealed by the Economic Survey 2020-21. This sector is being developed on the back of regulatory improvements and other necessary reforms, the survey report revealed. Financial development can be measured using several parameters, including the supply of money, stock market indicators, and the domestic …
SBP’s Reforms Helped Strengthen Pakistan’s Financial Sector in FY2021 Read More »
Members of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) called on Chief of Army Staff (COAS), General Qamar Javed Bajwa, today, a press release issued by ISPR informed. During the meeting, FPCCI’s role in the development of commercial and industrial hubs in Pakistan, along with the evolving regional economic environment in the …
Business Community Has Army’s Full Support: COAS Read More »
A relief package for the Telecom sector was confirmed today during the press conference and Minister Tarin gave the reassurance that the taxes on the sector would be reduced in the upcoming budget. The government is set to announce relief packages for the Telecom sector in the budget 2021-22, including the status of the industry, …
Finance Minister Confirms Huge Tax Relief for Telecom Users Read More »
