Business & Industry

To end harassment during the audit of taxpayers, the Federal Board of Revenue (FBR) has introduced a new kind of concept of E-Audit eliminating direct interaction between the audit officer and taxpayer selected for audit. The FBR intends to implement online audit (e-audit) proceedings, which is aimed at facilitating taxpayers for attend hearing without going […]

The State Bank of Pakistan (SBP) has amended its rules to encourage banks/DFIs to increase their investments in REITs without having to allocate relatively large amounts of capital. This will, in turn, help banks promote the development of Pakistan’s real estate sector. The enhanced participation of financial institutions backed by regulatory initiatives will also encourage

The Federal Board of Revenue (FBR) has proposed amendments in the special procedures for computation of capital gains and collection of tax on disposal of securities by the National Clearing Company of Pakistan Limited (NCCPL). The FBR has proposed amendments in the Income Tax Rules, 2002 through a notification issued on Tuesday. A tax expert

Delivery delays have become a common trait among automakers and a matter of great bother for car buyers all across Pakistan. The Government has finally caught wind of the issue and, as a part of the new auto policy, has decided to slap penalties on automakers who fail to deliver cars to the customers within

Ministry of Finance is considering a stimulus package to support the economy, Bloomberg reported on Tuesday. Finance Minister, Shaukat Tarin, is reportedly leading the initiative, which will contain monetary, fiscal, or both elements. The details of the stimulus package have not been shared so far, as it is still a work in progress, the report added. The

In continuation of its efforts for creating an enabling eco-system to improve capital formation in the country, the Securities and Exchange Commission of Pakistan (SECP), in coordination with Pakistan Stock Exchange (PSX), has approved a framework for Direct Listing of companies at PSX. Direct listing, unlike conventional offerings, is a process whereby a company can

The Federal Board of Revenue (FBR) on Thursday agreed to address all key issues of exporters before issuance of a ‘unified export promotion scheme’ in the next budget (2021-22). Sources told Propakistani that the assurance has been given by the top FBR officials during a meeting with the exporters’ delegation from Faisalabad. The meeting was

The Trade Development Authority of Pakistan (TDAP) will educate Pakistani sellers about the e-commerce giant Amazon through a series of awareness and training sessions. Abdul Razak Dawood, the Advisor to the Prime Minister on Commerce and Investment, made the announcement on Twitter. In his tweets, Dawood explained how the TDAP is “rolling out a series of

Russia will soon sign an amended Inter-Governmental Agreement (IGA) with Pakistan for the construction of the flagship North-South Gas Pipeline (NSGPP). As per the amended agreement that is subject to the terms and conditions set forth by both countries, the pipeline will stretch 1,100 km from Punjab to Karachi’s shoreline. The revised IGA will allow

The Federal Board of Revenue (FBR) has taken serious notice of the ongoing harassment of the business community and has ordered its field formations to immediately stop making illegal cases about the concealment of income or misdeclarations against the taxpayers disguised as ‘audits’ or ‘definite information’.   The FBR’s instructions to the field offices revealed