The Federal Board of Revenue (FBR) has tightened conditions, from July 1, 2021, for the exporters, who are availing the scheme of “temporary importation of goods for subsequent exportation” without payment of duties and taxes. The Federal Board of Revenue (FBR) has amended S.R.O. 492(I)/2009 through a notification issued on Wednesday. Under the revised scheme, …

FBR Tightens Conditions for Exporters Evading Duties and Taxes Read More »

The Federal Board of Revenue (FBR) has notified that the taxpayer or his authorized representative would not be required to personally appear before Inland Revenue officers during the whole audit proceedings under the new e-audit system. The FBR has issued a procedure for e-audit through a notification to amend Income Tax Rules, 2002. Under the …

FBR Reveals the Changes Made Under New E-Audit System Read More »

The Securities and Exchange Commission of Pakistan (SECP), to promptly response public queries regarding incorporation of companies, has introduced its WhatsApp Channel for Business Care. The WhatsApp help line number is first of its kind service in Pakistan’s Public sector. The WhatsApp service can be accessed by saving the help line number “03069365625” and then …

SECP Becomes First Govt Agency to Offer WhatsApp Support Service Read More »

The State Bank of Pakistan (SBP) and Securities and Exchange Commission of Pakistan (SECP) are jointly working to launch digital accounts for resident Pakistanis that will be similar to the Roshan Digital Accounts (RDA) for overseas Pakistani to enable citizens to invest in various investment avenues through a hassle-free process. Official sources told Propakistani that …

SECP to Launch RDA-type Accounts for Resident Pakistanis Read More »

With significant signs of economic recovery, the government will continue to follow the positive reform momentum to boost the competitiveness of Pakistan’s economy and lay a strong foundation for a more robust, inclusive, and sustainable recovery. This was mentioned in the monthly Economic Update and Outlook for June 2021, which highlighted that “Pakistan[‘s] economy has …

Pakistan’s Economy is Showing Significant Signs of Improvement: Report Read More »

The State Bank of Pakistan (SBP) is set to simplify banking by allowing customers to use their mobile number as their bank account number to expand banking services to unbanked and financially excluded people living in remote and rural areas. “Customer could link his/her mobile number or…any other (unique) identification number with their bank account …

SBP To Allow Opening of Bank Accounts Using Phone Numbers Read More »

Federal Secretary Ministry of IT and Telecommunication Dr. Muhammad Sohail Rajput has said that to meet the increasing demand for broadband services, the Ministry of Information Technology and Telecom(MoITT) is in the process for release/auction NGMS Spectrum in 1800 MHz and 2100 MHz to enhance the capacity of mobile broadband services in the country. Secretary …

MoITT In Process for NGMS Spectrum Auction to Meet Rising Broadband Demand Read More »

The government is going to introduce a new car financing scheme with a lower interest rate of 5 percent to 6 percent to facilitate people who are unable to buy cars after the major price hikes during the last few years. An official at the Ministry of Industries and Production revealed that the government is …

Govt to Introduce New Car Financing Scheme for 850cc to 1000cc Cars Read More »