FBR & SBP to Implement a New Income Tax Refund System

The Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP) are jointly implementing a new system for electronic issuance of income tax refunds by directly crediting the amount into the exporter’s bank accounts. In this connection, the FBR has issued a notification for introducing draft amendments in the Income Tax Rules 2002 …

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FBR to Notify Non-Filers That Are Paying Massive WHT on Mobile Transactions

The Federal Board of Revenue (FBR) has deputed a team of tax officials to analyze data of 100 million persons received from Mobile phone companies. Highly-placed officials in the FBR told Propakistani that the FBR will issue notices to the subscribers of Mobile Phones on the basis of the higher amount of withholding tax being deducted on calls. The …

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New Data Protection Bill to Prevent Social Media Platforms from Using Data Without Consent

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 …

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Raast – optimal digital payment experience

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 …

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