The Federal Board of Revenue (FBR) has started scrutiny of real estate transactions under one-time tax amnesty to see if they complied with the valuation table, it emerged on Friday. “Any amount paid under the scheme that is higher than the FBR valuation and is not disclosed in annual return by a person will be treated as concealed income,” a senior official at Regional Tax … Continue reading Real estate transactions under FBR’s scrutiny
Govt of Pakistan has signed agreement of Super Six wind power projects which will produce 310MW of clean & low cost power. Thank the World Bank & IFC for the $450 million investment for the project & their continued support for the implementation of our Govt’s development goals. – Dr Abdul Hafeez Sheikh Continue reading More Wind Projects in Pakistan
Senate Majority Leader Mitch McConnell faced criticism on social media for failing to act on gun control legislation after a shooting at a California high school Thursday that left two students dead and multiple others injured. A 16-year-old gunman who police said opened fire at Saugus High School in Santa Clarita, California was custody Thursday afternoon, but few other details were available. However, people took … Continue reading MassacreMitch Trends After Santa Clarita School Shooting: He’s ‘Had Background Check Bill On His Desk Since February’
As a major move towards addressing the challenge of access to finance to farming community, State Bank of Pakistan has amended its Prudential Regulations of Agriculture Financing, SME Financing, and Corporate & Commercial Banking by allowing banks to accept Electronic Warehouse Receipts as collateral for lending against storage of agriculture produce and commodities. Warehouse Receipt Financing (WHRF) is a mechanism whereby farmers, traders and processors … Continue reading State Bank of Pakistan allows Electronic Warehouse Receipt as collateral for bank financing.
Governor SBP Dr. Reza Baqir unveiled the commemorative coin of Rs.550 to mark the 550th birth anniversary of Baba Guru Nanak at State Bank of Pakistan. A delegation of Sikh Community led by Sardar Ramesh Singh Khalsa, Patron in Chief Pakistan Sikh Council & Member Prime Minister’s Taskforce for Evacuee Trust Property Board, comprising members of Pakistan Sikh Council and Baba Guru Nanak Darbar also … Continue reading Governor SBP unveils commemorative coin at 550th birth anniversary of Baba Guru Nanak Sahib
FBR has decided to initiate a panel audit of the Sugar industry in order to improve Tax Compliance and Ensure Transparency in reporting mechanism. FBR believes in improving compliance through education, facilitation, transparent and fair application of Law. -Chairman FBR Continue reading FBR to audit Sugar Industry
The recent measures by SECP to make the process of companies incorporation easy and hassle free, led to 19 % increase in registration of new companies in Oct 2019. The SECP has registered 1,659 new companies, raising the number of total registered companies to 107,062. Amongst new incorporations, 96 % companies were registered online and 43 % of the companies were registered in same day. … Continue reading SECP working towards Ease of Doing Business
Hitting $21 billion USD in sales in a matter of hours. China’s official consumer holiday “Singles’ Day” has just hit a record-breaking high in terms of sales. Singles day (11/11), given the name due to the repeating number one — referring to being single, the day for shopping sees a wide variety of items heavily discounted from both online and offline retailers. The biggest pulls … Continue reading In 96 Seconds Alibaba Sells Record-Breaking $1.43 Billion USD Worth of Goods
As praises pour in for Prime Minister (PM) Imran Khan over the opening of the Kartarpur Corridor despite deteriorating Pakistan-India ties, a group of Sikhs has demanded Nobel Prize for the premier. According to reports, several Sikh organisations, including “Sikhs for Justice”, have decided to launch a campaign seeking the Nobel Prize for Imran in a bid to make the world recognise his peace efforts. … Continue reading Sikhs praise PM Imran Khan
The Securities and Exchange Commission of Pakistan (SECP) has been undertaking a reform agenda to revitalize the capital market and promote expansion of investor base. It is felt that small and medium sized brokerage houses, alongside large ones, have a critical role to play in this regard. Based on representations received from various stakeholders including small sized brokers and recommendations of the Stock Market Reforms … Continue reading SECP reforms further.