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The Federal Board of Revenue (FBR) has assured the Ministry of Water and Power that the FBR would not pursue recovery of sales tax on tariff subsidy provided by the federal government to electricity consumers till the matter is decided by the appellate fora. Sources told Business Recorder here on...
Pakistan can benefit by introducing an 'Income Declaration Scheme' for persons having offshore assets on the pattern of successful experience of India and Indonesia to bring concocter money into the documented economy. According to a communication of Ashfaq Tola, Member Tax Reform Commission (TRC...
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Bankers have proposed issuance of multicurrency Sukuk for financing of China Pakistan Economic Corridor (CPEC) infrastructure projects. Addressing a roundtable session on "Islamic Finance Opportunities in CPEC and Beyond" conducted by IBA Centre for Excellence in Islamic Finance on Friday at IBA...
The PSX Divestment Committee has announced that bids for divestment of 40 percent equity stake of Pakistan Stock Exchange would be received till 4pm on December 22, 2016 and will be opened at 5pm the same day. On Thursday, the Divestment Committee called a meeting and asked all the interested...
Companies are not legally bound to respond to the notices of the Securities and Exchange Commission of Pakistan (SECP), seeking the details of beneficial ownership of directors under the provisions of Companies Global Register of Beneficial Ownership of repealed Companies Ordinance, 2016. Sources...
Lahore High Court Justice Ayesha A Malik Thursday sought reply from the government on a petition challenging Cybercrime Act/Prevention of Electronic Crimes Act 2016 for being contrary to fundamental rights of citizen protected in the Constitution. A social worker, Zubair Niazi, moved the petition...
ISLAMABAD: The Senate blocked Companies Ordinance 2016 with a majority vote on Thursday on the grounds that it should be promulgated through parliament. It was the third setback for the PML-N government in three years as the upper house has earlier rejected two presidential ordinances citing the...