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June 11, 2018 8:29 AM SC suspends tax deduction on mobile cards

LAHORE: The Supreme Court of Pakistan has suspended tax collection on mobile cards here on Monday. Last month, Chief justice of Pakistan (CJP) Mian Saqib Nisar had taken notice of the high levy charged on mobile phone cards in the country as he asked under which law Rs40 were being deducted from Rs100 mobile cards. A three-member bench of the SC heard 4

June 10, 2018 12:00 AM DSP, inspector suspended for extorting money from vice dens

KARACHI: The Sindh police chief on Saturday suspended a deputy superintendent of police (DSP) and an inspector on charges of extorting money from vice dens in Karachi. Inspector General of Police AD Khowaja had decided to initiate an enquiry against Kharadar Sub-Divisional Police Officer DSP Zahid Hussain and Mochko Station House Officer Inspector Zafar 1

June 9, 2018 12:00 AM Fata political agents redesignated as DCs, ACs

PESHAWAR: In one of the major steps to mainstream the erstwhile Federally Administered Tribal Areas (Fata), the Khyber Pakhtunkhwa authorities have re-designated the offices of political agents as deputy commissioners and stopped the collection of Agency Welfare Funds. The decision is one of the major developments after the merger of Fata with Khyber 6

June 3, 2018 12:00 AM NBP, Baluchistan’s Excise, Taxation, Anti-Narcotics signs agreement for tax collection

QUETTA: The National Bank of Pakistan (NBP) signs an agreement with Baluchistan’s Excise, Taxation and Anti-Narcotics department for the automation of tax collection system across the province. The agreement was signed by Muhammad Farooq, NBP’s Executive Vice President, Payment Services and Digital Banking Group and Fateh Muhammad Khajak, Director General 2

June 1, 2018 12:00 AM FBR collects Rs3,274b in first 11 months of current fiscal year

ISLAMABAD: The FBR has collected Rs3,274 billion in first eleven months (July-Nov) period of the current fiscal year and the Board will have to collect Rs661 billion in last month (June) for achieving revised annual target of Rs3,935 billion. already revised revenue collection target from Rs4,013 billion to Rs3,935 billion, reflecting a decrease of Rs78 billion 2

June 1, 2018 12:00 AM Rado wins design award

“This time the brand has received the prestigious 2018 Australian Good Design Award for the True Phospho - a collaboration with Swiss design studio Big-Game,” it added. Competing in the Product Design category, the True Phospho was evaluated on criteria including design, innovation and impact. “At Rado, we are absolutely delighted to have won the prestigious 1

May 31, 2018 12:00 AM Leading Muslim fashion designer jailed in Indonesia fraud

JAKARTA: An Indonesian fashion designer who shot to global fame with her Muslim-themed collection was sentenced to 18 years in prison on Wednesday for a multi-million dollar fraud and money-laundering. A court near Jakarta convicted Anniesa Hasibuan, 31, and her husband of cheating customers who booked pilgrimage trips to Islam’s holiest city Mecca through 1

May 22, 2018 12:00 AM Budget deficit shoots up to Rs1,480.9 billion

ISLAMABAD: Just ahead of an electioneering year, Pakistan’s budget deficit shot up to Rs1480.929 billion or 4.3 percent of GDP for first nine months (July-March) period of current fiscal against 3.9 percent of GDP for same period of last financial year, official data of Finance Ministry shows. The debt servicing has outpaced defence and development expenditures 3

May 20, 2018 12:00 AM Laggard returns filers to miss tax concession

KARACHI: Laggard return filers cannot avail withholding tax concession under a new law introduced for the next fiscal year of 2019, a consultancy firm said on Saturday. Late filers will not be eligible to avail reduced rate of withholding tax rates as their names will not be included in the active taxpayers list (ATL). Presently, income tax is collected 10

May 19, 2018 12:00 AM Sindh Revenue Board unveils major tax relief

KARACHI: Sindh Revenue Board (SRB) on Friday unveiled a relief for taxpayers, allowing a total waiver of penalty and remission of up to 95 percent of the amount of the default surcharge, in a bid to boost tax inclusion as well as collection. “The tax payment incentive package provided substantial benefits and relief to the taxpayers, service providers 3