Oil Production Boost by 1.1m barrels per day
At least six oil refineries are at different stages of completion to ramp up crude oil refining capacity in Pakistan by around five percent with the government offering ‘unprecedented’ incentives to downstream sector to meet growing energy demand, officials said on Tuesday. A senior official said currently as many as six projects, investment initiatives and proposals in oil refining sector are in pipeline and at … Continue reading Oil Production Boost by 1.1m barrels per day
200% Tax Hike in Islamabad Properties
Property owners in the capital have seen an unprecedented 200% hike in property tax with little time to pay the charges. The Metropolitan Corporation Islamabad (MCI) approved the increase in property tax last December, making it applicable from July 1, but tensions between the MCI and Capital Development Authority (CDA) over who would control the revenue directorate responsible for collecting property tax meant that the … Continue reading 200% Tax Hike in Islamabad Properties
SECP reduces and waives off some Tariffs
The Securities and Exchange Commission of Pakistan (SECP) on Monday announced that it has approved a revision in tariff structures of the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company of Pakistan Limited (CDC). According to a press release issued by the commission, the decision was taken to foster capital market development and broaden the investor base. “The SECP had advised … Continue reading SECP reduces and waives off some Tariffs
NITL goes Online
National Investment Trust Limited (NITL), Pakistan’s first and largest asset management company, has announced that all branches of NIT are now online, with an objective of expanding its outreach to the investors and providing convenience to their unitholders. NIT has 27 branches nationwide, out of which 23 branches were already online. The remaining branches, including in Hyderabad, Sukkur, Quetta and Azad Jammu Kashmir (AJK), have … Continue reading NITL goes Online
PSX trending Positive
For the third consecutive week, the stock market maintained the positive momentum. The benchmark KSE-100 index was up 2 per cent week-on-week and closed with gain of 630 points at 32,111. It took the three-week cumulative return to 8pc. On the economic front, the week kicked off on a positive note with Monetary Policy Committee (MPC) announcement of status quo on key interest rate at … Continue reading PSX trending Positive
NAB arrests Aijaz Jakhrani- alleged front man of PPP leader
The National Accountability Bureau (NAB) team has arrested former chairman of the Jacobabad Municipal Committee, Ghulam Abbas Jakhrani, in assets beyond known sources of income, ARY News reported on Saturday. According to accountability bureau sources, Jakhrani has accumulated assets beyond his known sources of income being chairman of the Jacobabad Municipal Committee and is also accused of giving a bulletproof vehicle to former President Asif … Continue reading NAB arrests Aijaz Jakhrani- alleged front man of PPP leader
FBR drive against Jewelers in Islamabad
Notices were sent to the jewelers on Thursday. FBR says an inquiry will be initiated and fine imposed if it doesn’t receive replies within seven days. Unregistered jewelers have been directed by the FBR to get their sales tax registration done. The notices have been sent by the Islamabad regional tax office. The jewelers have been asked to submit complete details of their business, including … Continue reading FBR drive against Jewelers in Islamabad
FBR tries to solve Province Reservations
Federal Board of Revenue (FBR) has conveyed to provincial revenue authorities that the single portal for filing of sales tax returns would address their reservations on adjustment of input tax from telecom companies and regularize input tax adjustment between the FBR and provinces. This was discussed during the last advisory meeting held with the provincial revenue authorities/board to discuss issues regarding single portal/single sales tax … Continue reading FBR tries to solve Province Reservations
Sticky post
50/20/30 Budget Rule Explained
Senator Elizabeth Warren popularized the 50/20/30 budget rule in her book “All Your Worth: The Ultimate Lifetime Money Plan.” The basic rule is to divide after-tax income, spending 50% on needs and 30% on wants while allocating 20% to savings. Needs Needs are those bills that you absolutely must pay and are the things necessary for survival. These include rent, car payments, groceries, insurance, health … Continue reading 50/20/30 Budget Rule Explained
Tax App a SUCCESS
Within two days of its launch, the mobile app for simplified return has received 98 salary returns digitally and thousands of downloads of the app, indicating its success according to the Federal Board of Revenue (FBR). The app “Tax Asaan” has been operational since Monday (Sept 16) with its scope limited to the salary income of an individual. Speaking to Dawn on Wednesday, FBR chairman Shabbar Zaidi … Continue reading Tax App a SUCCESS
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