The ‘Data Protection Bill’ which will prohibit social media platforms like Facebook and Twitter from using consumers’ data without prior consent and will allow for the imposition of high fines for violations is in its final stages. This was revealed by the officials of the Ministry of Information Technology & Telecommunication (MoIT&T) during a …
KARACHI: The State Bank of Pakistan (SBP) is working on a new type of loan scheme to meet the specific needs of startup companies keeping in view the issues they are facing in raising capital in the form of convertible debt from abroad. According to a working paper titled “Raising of convertible debt from abroad …
KARACHI: Pakistan marked the beginning of 2021 with a digital leap forward following the launch of Raast – Pakistan’s first instant payment system that enables end-to-end digital payments among individuals, businesses and government entities. Launched by Prime Minister Imran Khan on January 11, the initiative is part of his “Digital Pakistan Vision” aimed at including poor segments of society …
The Area Development Plan rules that were recently promulgated by Lahore Development Authority (LDA) are gaining traction. These rules have allowed developers to plan innovative large projects along the main arteries of Lahore, which is curbing down on illegal and unsightly strip development that has been seen otherwise in the metropolitan so far. In a recent …
The government is planning to launch Pakistan’s first-ever “International Payment Gateway (IPG)” to advance the nation’s digital infrastructure to provide ease of doing business to digital users globally. The Ministry of Information Technology and Telecommunication (MOIT&T), and the National Information Technology Board (NITB), under the auspices of the government of Pakistan, will launch Pakistan’s first-ever IPG …
MOIT and NITB to Launch Pakistan’s First International Payment Gateway Read More »
The Federal Board of Revenue (FBR) has abolished additional customs duty on the import of electric vehicles 2-3 wheelers Completely Built Unit (CBU) condition; electric auto rickshaw, electric motorcycle, and 3-wheeler electric-loader up to June 30, 2025. In this regard, the FBR has issued a notification here on Wednesday to amend S.R.O. 572(I)2020. Under the …
FBR Abolishes Additional Customs Duty on Import of Electric 2-3 Wheelers Read More »
The government has promulgated the Income Tax Amendment Ordinance, 2021 to change the dates for the extension of the tax amnesty scheme for the construction sector. The Income Tax Amendment Ordinance 2021 has amended the relevant provisions of the Income Tax Ordinance, 2001 to extend the deadlines for the developers and builders seeking immunity from …
Govt Announces New Ordinance to Extend Tax Amnesty for Construction Sector Read More »
State Bank of Pakistan (SBP) has directed banks to entertain taxpayers if they deposit the cheque of different banks to facilitate them with the convenient payment option available in the banking system. The banking regulator reiterated that banks shall ensure that all their branches are accepting the taxes and duties through the ADC mechanism and that …
Bank Branches Should Accept Taxpayers’ Cheques of Different Banks: SBP Read More »