ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) has submitted a motion in the Senate regarding the sale of national assets through an ordinance. The adjournment motion was submitted under Senate Rules No. 48 by Senator Shibli Faraz, Senator Saifullah Niazi, and Senator Dr Zarqa Taimur, The motion urged to halt proceedings of the Upper House and debate the … Read more
KARACHI: The Federal Board of Revenue (FBR) on Monday deferred the mandatory digital payment system for corporate entities till January 31, 2022. The FBR issued a circular for the extension in time for the implementation of digital payment for corporate entities. It is the third time the revenue board has extended the time of implementation. … Read more
President Arif Alvi circulated new tax laws, directing the authorities to detach mobile phones/SIMS, electricity, and gas connections of individuals who are obligated to file income tax but fail to be on the Active Taxpayer List (ATL). President Arif Alvi publicized the Tax Laws (Third Amendment) Ordinance 2021 for letting the Federal Board of Revenue … Read more
President Dr Arif Alvi on Wednesday signed the Election Ordinance (Third Amendment) 2021 under Article 89 of the Constitution of Pakistan, binding the elected members to take oath within 60 days of the commencement of the first sitting of the maiden session of the Parliament. The amendment was made to section 72 of the Election … Read more
KARACHI: The tax authorities have withdrawn all the appeals it filed against the claim of exemption on foreign remittances, a senior official said on Monday. “The FBR [Federal Board of Revenue] has withdrawn the appeals on satisfactory response from the State Bank of Pakistan (SBP) on the issue of foreign remittances through banking channels,” the … Read more
KARACHI: The Karachi Tax Bar Association (KTBA) on Wednesday said the banks are deducting withholding tax on export of software and IT-enabled services, which is unlawful, as this segment has been granted exemption. In a letter to Asim Ahmed, chairman of the Federal Board of Revenue (FBR), the association said the banks have misunderstood Section … Read more
President Dr. Arif Alvi has promulgated an ordinance for the establishment of the ‘China-Pakistan Economic Corridor Authority (CPECA)’ here on Tuesday. As per the report, it is aimed at “accelerating the pace of CPEC-related activities, find new drives of growth, unlock the potential of interlinked production network and global value chains through regional and global … Read more
