Foreign debt increased by $60bn from 2008-18: Fawad

ISLAMABAD: Information Minister Chaudhry Fawad Hussain says the country's foreign debt from 2008 to 2018 increased substantially by sixty billion dollars reaching 97 billion...

Many withholding tax provisions to be abolished in budget

ISLAMABAD: The government has intended to abolish large number of withholding tax provisions in the budget. According to Medium-Term Economic Framework (MTEF), which was launched...

NAB files reference against Omni Group and others

ISLAMABAD: The National Accountability Bureau (NAB) on Monday filed a reference against Omni Group owner Anwar Majeed's son Abdul Ghani Majeed, and other accused...

Sales Tax Act 1990: buyer, seller jointly responsible for unpaid tax

KARACHI: Where an amount of tax unpaid in supply chain then registered buyer and seller are both responsible for paying to national exchequer. According to...

Managed float or market-based exchange rate?

THE arrival of the International Monetary Fund (IMF) mission’s new chief for Pakistan Ernesto Ramirez Rigo in Islamabad on March 26 was preceded a...

Increase in refund claims by registered persons selected for audit

KARACHI: Federal Board of Revenue (FBR) has selected sales tax audit of those sales tax registered persons whose refund claims increased in a month...

Govt announces crackdown as dollars vanish in open market

KARACHI: Signs of panic are now appearing in foreign currency markets as the dollar touched Rs148 in open trading on Friday and the information...

FBR sets up 3 Benami Zones in big cities

ISLAMABAD: Federal Board of Revenue has established three Benami Zones at Karachi, Lahore and Islamabad for enforcement of Benami Transaction (Prohibition) Act, 2017. In a...

Past revenue-centric policies hurt exports: Prime Minister

ISLAMABAD: Prime Minister Imran Khan has said that the revenue-centric economic policies of past governments have badly damaged the competitiveness of Pakistan’s exports. The past...

Suzuki Alto set to make a comeback

KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) is expected to start commercial production of Alto 660cc from next week following the discontinuation of the...

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