Banks to deduct WHT on every account opened on a CNIC
KARACHI: The Federal Board of Revenue (FBR) has directed all the banks to deduct Withholding Tax (WHT) on every kind of banking transactions of every account opened on a Computer…
DG Customs Valuation amends Valuation Ruling No.855/2016
KARACHI: The Director General Customs Valuation has amended the Valuation Ruling No.855/2016 of office furniture and parts thereof. Pakistan Furniture Importers Association and others had filed review petition against the…
FBR offices to observe extended working hours
KARACHI: The Federal Board of Revenue (FBR) has notified that all the Custom Collectorates and Inland Revenue offices will observe extended working hours till 10:00 PM on Wednesday the June…
State Bank’s fresh currency notes service receives over-helming response
KARACHI: In order to meet the public demand for fresh currency notes on the occasion of Eid ul Fitr 2016, the State Bank of Pakistan Banking Services Corporation (SBP BSC)…
Martyred Customs Inspector honored; deceased’s family not getting due benefits
KARACHI: Abdul Ghaffar Sheikh, Inspector (BS-16) of Customs Department gave his life in the line of duty and yet his family is being denied the due benefits, which are available…
Lawyers boycott court proceedings for third consecutive day
KARACHI: In a rare expression of solidarity with the bench, lawyers of Karachi continued their boycott of court proceedings for the third consecutive day here yesterday in protest over kidnapping…
Customs values of PET Films revised
KARACHI: Director Customs Valuation Dr. Wasif Memon has revised the customs values of PET/Holographic & PET Sequin Film vide valuation ruling No.876/2016. The values of printers were earlier determined vide…
Customs values of printers revised
KARACHI: Director Customs Valuation Dr. Wasif Memon has revised the customs values of printers vide valuation ruling No.875/2016. The values of printers were earlier determined vide valuation ruling No.205/2009. A…
Customs values of ceramic and porcelain tiles revised
KARACHI: Director Customs Valuation Dr. Wasif Memon has revised the customs values of ceramic and porcelain tiles vide valuation ruling No.874/2016. The values of these goods were earlier determined vide…
Customs values of medium density fiber board revised
KARACHI: Director Customs Valuation Dr. Wasif Memon has revised the customs values of medium density fiber board (MDF Board) vide valuation ruling No.873/2016. The values of these goods were earlier…
Customs values of Thailand origin footwear revised
KARACHI: Director Customs Valuation Dr. Wasif Memon has revised the customs values of Aerosoft and similar brands of footwear of Thailand origin vide valuation ruling No.872/2016. The values of these…
Punjab and Sindh govts abolish Entertainment tax
KARACHI: The provincial governments of Punjab and Sindh have totally abolished the Entertainment Tax for the new Cinemas as the new comers like Cinepax, which are growing rapidly in both…
Central Bank issues guidelines on prevention against cyber attacks
KARACHI: State Bank of Pakistan (SBP) has advised banks/MFBs/DFIS to continuously improve their cyber security controls and procedures so as to anticipate, withstand, detect, and respond to cyber attacks. SBP’s…
Tractor manufacturers demand reduction in import duty on raw material
KARACHI: Tractor manufacturers have urged the government that raw material imports should be taxed at zero-rate or maximum at 5.0 percent in line with CBU import. Shahid Hussain, CEO &…
Lawyers boycott court proceedings for second day over Owais Shah kidnapping
KARACHI: Lawyers across Sindh boycotted the court proceedings on Wednesday also .They wore black arm bands to show anger over kidnapping of Barrister Owais Ali Shah son of Syed Sajjad…
KTBA condemns Owais Shah’s abduction, express solidarity with family
KARACHI: Karachi Tax Bar Association on Wednesday condemned the abduction of Barrister Owais Ali Shah and said members of the association are shocked and angered over the incident. In a…
CJ’s son still untraced, police inability proved
KARACHI: Police and law enforcing agencies have failed to recover Syed Owais Ali Shah son of Syed Sajjad Ali Shah, Chief Justice of High Court of Sindh who was abducted…
CCP issues policy note to FBR
KARACHI: The Competition Commission of Pakistan (CCP) has issued a Policy Note to the Federal Board of Revenue (FBR) to eliminate discrimination meted out to some market players of the…
FBR notifies nominations for 20th SMC
KARACHI: The Federal Board of Revenue (FBR) has notified nominations of BS-19 or equivalent officers for 20th senior management course (SMC) at National Management College Lahore and National Institute of…
ICAP holds post-budget seminar
KARACHI: Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan has said that country lacked culture of tax compliance and there was an urgent need to reform the taxation…