Pakistan’s financial system shows discrepancy worth PKR 10b-24b. Urgent need to establish an online interface between the FBR and SBP.
Figure reported by FBR is different from cash deposited in treasury. At least Rs10 billion worth of discrepancy has been found between figures reported by the Federal Board of Revenue (FBR) and cash deposited in the treasury, underscoring the need for immediately resolving reconciliation issues that can undermine credibility of official figures. The discrepancy highlights the urgency to establish an online interface between the FBR … Continue reading Pakistan’s financial system shows discrepancy worth PKR 10b-24b. Urgent need to establish an online interface between the FBR and SBP.
Exchange Companies Association of Pakistan decided to offer incentives in cash and in kind to Pakistanis abroad sending remittances through exchange firms.
The State Bank of Pakistan (SBP) has allowed foreign currency exchange companies to initiate work on directly attracting worker remittances from the countries from where the inflows remain nominal. “The State Bank of Pakistan (SBP) has given us free hand to bring worker remittances from the countries where a large number of Pakistanis are living and doing jobs, but remittances from such countries remain nominal,” … Continue reading Exchange Companies Association of Pakistan decided to offer incentives in cash and in kind to Pakistanis abroad sending remittances through exchange firms.
Good news for Small Shopkeepers and Traders- FBR finally listened and made it easy.
The Federal Board of Revenue (FBR) has rolled out three schemes to facilitate the retailers and small traders in complying with the tax regime. As 80 to 90 percent of the retailers are not registered with the tax authorities an initiative has been taken to make the tax requirements easier and bring the small businesses into the tax net. FBR has notified: Simplified Scheme for … Continue reading Good news for Small Shopkeepers and Traders- FBR finally listened and made it easy.
Non resident Pakistanis definition changed.
Federal Board of Revenue – FBR expands its net to non-resident Pakistanis FBR has reduced the stay period of Pakistanis for tax collection purposes with effect from 2015, which may result in litigation as independent legal experts argue that substantive changes in law can only be made prospectively. On 30th June 2019 FBR issued a circular aimed at explaining important amendments to the Income Tax … Continue reading Non resident Pakistanis definition changed.
Imports and Reduce rate of WHT
If you are an importer of raw material or thinking about starting something related to this- we have some good news: You can apply for a reduced rate of withholding tax on importing raw material. Here is how using IRIS: The taxpayer will e-file a single “(Application u/s 159(1) / 148 for reduced rate of withholding tax on Import) (FOR QUOTA ALLOCATION)” for the whole … Continue reading Imports and Reduce rate of WHT
Sales Tax registration made easy – Company
In Pakistan, Sales Tax registration is one of the most important steps after company registration. Without your STRN (Sales Tax Registration Number) you cannot import or export your products or services. You will not be able to participate in tenders in Pakistan. You cannot work with the government, take important sponsors or work with well reputed companies. No multinational company can work with you legally … Continue reading Sales Tax registration made easy – Company
Sticky post
Quetta: 4 martyred, 30 injured including 4 critical.
Latest update 4 dead and 30 injured in an explosion at Mezan Choke Quetta . It is a really sad moment for us😭. May the soul of martyrs rest in Jannah. (Ameen) Pak army #PlaneCrashed in residential area in Rawalpindi, 17 died, many injured Continuous firing of indian army in Leepa Valley and Neelum Valley, 3 died, 35+ injured Blast in #Quetta, 4 died, 32 … Continue reading Quetta: 4 martyred, 30 injured including 4 critical.
Sales Tax registration made easy – Partnership (AOP)
In Pakistan, Sales Tax registration is one of the most important steps after company registration. Without your STRN (Sales Tax Registration Number) you cannot import or export your products or services. You will not be able to participate in tenders in Pakistan. You cannot work with the government, take important sponsors or work with well reputed companies. No multinational company can work with you legally … Continue reading Sales Tax registration made easy – Partnership (AOP)
Plane crashes: Bahria Town Phase 7
Small plane crashes in Bahria Town Phase 7 Rawalpindi. According to reports at least 10 people were killed and 12 others wounded including 2 children. It was a Pakistan Army aviation small aircraft on routine training flight. 5 crew members including 2 officers (Pilots) embraced Shahadat. Crew members included Lt Col Saqib -Pilot Lt Col Waseem – Pilot Naib Subedar Afzal Havaldar Ibne Ameen Havaldar … Continue reading Plane crashes: Bahria Town Phase 7
Sales Tax registration made easy – Individuals
In Pakistan, Sales Tax registration is one of the most important steps after company registration. Without your STRN (Sales Tax Registration Number) you cannot import or export your products or services. You will not be able to participate in tenders in Pakistan. You cannot work with the government, take important sponsors or work with well reputed companies. No multinational company can work with you legally … Continue reading Sales Tax registration made easy – Individuals
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