Power consumers: President confirms FTO’s decision ISLAMABAD: President of Pakistan has confirmed Federal Tax Ombudsman’s decision to alleviate miseries of power... Updated 19 Mar, 2024 09:21am
Business & Finance Budget FY25: ex-minister for raising taxes on cigarettes ISLAMABAD: Former Federal Minister for National Health Services, Dr Nadeem Jan, Saturday, called for a significant... Published 17 Mar, 2024 02:49am
Business & Finance Petrol’s price remains unchanged ISLAMABAD: Federal government on Friday announced to keep the ex-depot price of petrol unchanged, and Rs 1.77 per... Updated 16 Mar, 2024 05:11pm
Business & Finance Modification of Sales Tax Rules of 2006 thru SRO: LCCI files appeal with FBR LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has formally appealed to the Federal Board of Revenue... Published 14 Mar, 2024 03:00am
Business & Finance Tribunal reduces penalty disproportionate to gravity of sales tax default? LAHORE: An Inland Revenue appellate tribunal has reduced penalty against defaulter of sales tax owing to... Published 12 Mar, 2024 04:27am
Business & Finance Invoice price more than Rs4m: FBR slaps 25pc sales tax on ‘local’ vehicles ISLAMABAD: The Federal Board of Revenue (FBR) will charge 25 percent sales tax on locally manufactured or assembled... Published 09 Mar, 2024 04:59am
Print Reducing risk of sales tax fraud: FBR places curbs on various activities, transactions ISLAMABAD: The Federal Board of Revenue (FBR) has placed restrictions on various activities and transactions of... Updated 09 Mar, 2024 06:51pm
Business & Finance FBR issues instructions: Field formations asked to decide refund claims in 30 days ISLAMABAD: On the directions of Prime Minister Shehbaz Sharif, the Federal Board of Revenue (FBR) has issued... Published 07 Mar, 2024 04:59am
Business & Finance Feb PRA records 23pc growth in revenue LAHORE: Punjab Revenue Authority (PRA) has collected Rs19.1 billion during the month of February 2024, which is 23%... Published 05 Mar, 2024 03:09am
Business & Finance Cotton processor secures input tax refund LAHORE: A cotton processor has secured input tax refund, which was rejected by the sales tax department after the... Published 05 Mar, 2024 03:09am
Business & Finance Salt makers demand sales tax refund payment ISLAMABAD: Qasim Yaqoob Paracha, Chairman of the Salt Manufacturers Association Pakistan, stated that the salt ... Published 04 Mar, 2024 04:15am
Business & Finance SRB clarifies supply chain management, distribution services KARACHI: The Sindh Revenue Board (SRB) has clarified that supply chain management and distribution (including... Published 02 Mar, 2024 04:16am
Business & Finance FBR extends T&T system to tiles sector ISLAMABAD: The Federal Board of Revenue (FBR) has decided to implement the Track and Trace system on the... Published 02 Mar, 2024 04:16am
Markets Distributors, including delivery services chargeable to Sindh sales tax: SRB Supply chain management and distribution (including delivery) services are chargeable to Sindh sales tax at the rate... Published 01 Mar, 2024 09:11pm
Business & Finance PAAPAM opposes proposed hike in ST on automobiles LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has voiced serious... Published 25 Feb, 2024 04:51am
Print Mangla power station: Wapda proposes depositing ST with AJ&K ISLAMABAD: The Water and Power Development Authority (Wapda) has proposed signing of a formal agreement between the... Updated 19 Feb, 2024 09:53am
Print Locally-made passenger cars: PAMA protests GST hike proposal by govt KARACHI: The Pakistan Automotive Manufacturers Association (PAMA) has strongly protested the government’s proposal... Updated 17 Feb, 2024 09:58am
Business & Finance Gang behind bogus GST invoices busted ISLAMABAD: The Directorate of Intelligence & Investigation (Inland Revenue), Islamabad has busted an organised... Published 15 Feb, 2024 05:39am
Business & Finance FTO asks FBR to address leading pharma company’s grievance ISLAMABAD: Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to immediately process ... Published 13 Feb, 2024 05:59am
Print eFBR portal to be used: FMCG supply chain required to register systems ISLAMABAD: The supply chain of the Fast Moving Consumer Goods (FMCG) sector would be required to register their... Updated 11 Feb, 2024 02:08pm
Print PRR project: World Bank accepts govt request ISLAMABAD: The World Bank has accepted the government’s request for the extension of the closing date and... Updated 11 Feb, 2024 09:30am
Business & Finance Input tax adjustment time: ST Act doesn’t stipulate any condition or time limit LAHORE: The Sales Tax Act does not stipulate any condition or restriction of time for adjustment of the input tax... Published 06 Feb, 2024 05:00am
Business & Finance Provinces: H1FY24 sales tax collection on services increases by 23.44pc YoY ISLAMABAD: The sales tax on services collection by the provinces has increased by 23.44 percent during the first six... Updated 06 Feb, 2024 09:05am
Print Importers, manufacturers and wholesalers: FBR allows e-invoice integration with its digital system ISLAMABAD: The Federal Board of Revenue (FBR) has allowed importers, manufacturers and wholesalers/ dealers/... Updated 03 Feb, 2024 02:48pm
Print Telecom sector: FBR launches single sales tax return ISLAMABAD: The Federal Board of Revenue (FBR) has launched single sales tax return (tax period of January 2024) for... Updated 02 Feb, 2024 09:21am
Business & Finance Dept fails to recover sales tax against obsolete stock LAHORE: The sales tax department failed to recover the sales tax amount from a taxpayer against obsolete stock that... Published 01 Feb, 2024 04:52am
Print Six-month budget deficit soars to 2.3pc of GDP ISLAMABAD: The budget deficit during the first six months of the ongoing fiscal year increased to 2.3 percent of the... Updated 30 Jan, 2024 08:48am
Editorials Growing circular debt challenge EDITORIAL: The power sector circular debt, as per a Business Recorder exclusive news item, reached a high of 2.551... Published 30 Jan, 2024 04:52am
Opinion FBR restructuring: a recipe for disaster–II Just to highlight the difficulties involved let’s look at critical requirements for broadening of the tax base and... Published 29 Jan, 2024 04:37am
Business & Finance LHC asks FBR to amend STA for protecting taxpayers’ rights ISLAMABAD: Lahore High Court (LHC) has directed the Federal Board of Revenue (FBR) to introduce sales tax ... Published 29 Jan, 2024 04:37am