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POWER COST REVISION TO BENEFIT CONSUMERS

06 February 2018

ISLAMABAD: The power tariff for all distribution companies, except K-Electric, is estimated to come down by about Rs2.78 per unit for a month due to lower than assumed fuel costs in December despite low contribution from cheap hydropower. The Central Power Purchasing Agency-Guarantee (CPPA-G) has...

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PANAMA PAPERS SCANDAL: TAX AMNESTIES BRING HUGE WINDFALLS AFTER INTER-COUNTRY INFO SHARING PACT

06 February 2018

KARACHI: Equipped with international tools for transparency, an increasing number of countries have launched or are weighing bringing in innovative tax amnesty schemes to net dodgers, repatriate assets from tax havens and build and document their economies, a Jang-The News study shows. About 25...

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GOVT BEGINS ON-GROUND SURVEY TO FIND TAX EVADERS ISLAMABAD

06 February 2018

Amid its failure in increasing the narrow tax base, the government has now begun surveys of commercial and high-rise residential buildings across the country to scout people who have bought properties in plazas but do not feature in the tax net. This will be the first comprehensive on-ground...

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BTB INITIATIVE: FBR ISSUES 33,000 NOTICES TO HIGH VALUE INDIVIDUALS

06 February 2018

The Federal Board of Revenue (FBR) has issued 33,000 notices to high value unregistered individuals to bring them in the tax net for broadening of tax base (BTB). This was stated by the director general broadening of tax base wing of FBR while briefing a meeting of the Senate Standing Committee...

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PROPOSAL OF TAX RATE CUT FOR DOCUMENTATION OF ECONOMY UNDER CONSIDERATION

06 February 2018

PRIME MINISTER ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday said proposal of reducing tax rates was under consideration in order to facilitate documentation of economy and broadening of the tax base. The prime minister said at a meeting with a delegation of Federation of Pakistan...

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CCP IMPOSES RS2.7MN PENALTY ON 9 COMPANIES FOR DECEPTIVE MARKTING PRACTICES ISLAMABAD

06 February 2018

The Competition Commission of Pakistan (CCP) has imposed Rs. 2.7 million penalty on nine companies for deceiving consumers by fraudulently using the trademark of another company. Bahawalpur-based Al-Rehman Oil Mills complained to the CCP against the companies namely Niaz Corporation, Hamza...

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INCREASE, IMPOSITION OF RD: FBR’S PROPOSAL BLOCKED

10 January 2018

Secretary Commerce Younus Dagha has reportedly blocked Federal Board of Revenue's (FBR) proposal on increase and imposition of regulatory duty (RD), saying that Commerce Ministry was not taken on board on this plan prior to bring it before the ECC, well-informed sources told Business Recorder.The...

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RD ON DOZENS OF IMPORTED ITEMS REVISED

10 January 2018

The Federal Board of Revenue (FBR) has revised regulatory duty (RD) on dozens of imported items on the proposal of different sectors. It includes 5 percent RD on the import of sacks and bags of polymers of ethylene by registered units for in-house use for packaging food and dairy products. The...

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GOVT PLANS PUBLIC OFFERINGS OF CPEC’S ENERGY PROJECTS

10 January 2018

KARACHI: The government plans to list power firms under China-Pakistan Economic Corridor (CPEC) on the stock exchange, a senior broker said. Rana Afzal Khan, minister of state for finance, held meetings with senior officials of Pakistan Stock Exchange (PSX) on Thursday. The broker, who attended...

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