In line with the vision of the Prime Minister to provide maximum facilitation to the taxpayers and under the guidance of Chairman FBR, a Centralized Income Tax Refund Office (CITRO) has been established at FBR in order to facilitate taxpayers by releasing income tax refund payments directly into their bank accounts in an expeditious and …
Tax Refunds to be Paid Through Automated System of CITRO Read More »
The government has decided to allow six sectors to avail 100 percent tax credit after withdrawal of income exemptions from IT services and IT enabled services; coal mining; green field industries; renewable energy and ship building projects. Highly-placed government officials told Propakistani that the Income Tax (Second Amendment) Bill, 2021 has proposed replacement of income …
The Federal Board of Revenue (FBR) has issued a clarification regarding the news about a proposal to withdraw exemption available to income from exports of computer software or IT services or IT enabled services. FBR has clarified that under the current legal dispensation, the exports of computer software, IT Services or IT enabled services are exempt from …
FBR Issues Clarification on Tax Exemption from Income of Exported IT Services Read More »
The government has decided to withdraw income tax exemption available to IT services and IT-enabled services through the Income Tax Amendment Bill, 2021. Under the draft bill, the IT services and IT-enabled services will be allowed to avail 100 percent tax credit at the time of filing of income tax returns. The withdrawal of income …
Govt to Withdraw Income Tax Exemption on IT and IT-Enabled Services Read More »
Pakistan has the potential to increase its gemstone exports to $32 billion every year, claimed Chairman Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Qurban Ali. He said gemstone exporters must go for innovation and adopt modern technology to improve the value of precious and semi-precious stones to enhance competitiveness in the international market. …
Pakistan Can Increase Its Annual Gemstone Exports to $32 Billion: FPCCI Read More »
A host of reforms by the Securities and Exchange Commission of Pakistan (SECP) for the ease of doing business led to a corporate growth of 39 percent in February as compared to the same month last year. The Corporate Registrar had incorporated 2,257 new companies and startups in February, of which 99 percent were incorporated …
Reforms by SECP Led to 39% Growth in Registration of New Companies Read More »
Punjab Information Technology Board (PITB) and 1LINK (Pvt.) Limited have entered into an agreement to launch ‘Payzen’- bill aggregator. ‘Payzen’ follows e-Pay Punjab as the next logical step to promote fintech for the digitization of the economy. In this regard, a ceremony was held at PITB and the agreement was signed by DG PITB Faisal …
PITB Partners with 1LINK to Launch ‘Payzen’ for Enhancement of Payments Landscape Read More »
The State Bank of Pakistan’s (SBPP) Temporary Economic Refinance Facility (TERF) will raise the investment-to-GDP ratio by almost one percent during the ongoing fiscal year despite the COVID-19 pandemic. This is projected from the fact that the approvals of long-term concessionary investment loans under the scheme have already reached Rs. 430 billion, Dawn News reported. The …
SBP’s Scheme Will Raise The Investment-to-GDP Ratio for Pakistan: Report Read More »