FBR aims to increase sales tax registrations up to 400,000

FBR aims to increase sales tax registrations up to 400,000

The Federal Board of Revenue (FBR) Tuesday set the target to mount sales tax registrations up to 400,000 people in next three years to eventually boost revenue collection and documentation of economy “Around 250,000 people are already registered with FBR’s sales tax net, however only 41,000 were paying the sales...

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Who will replace Asad Umar?

Who will replace Asad Umar?

According to sources, consultation is ongoing at the Prime Minister House to decide on the name who will take charge as the new Finance Minister of Pakistan. The names which are reportedly under consideration as per sources, are: erstwhile finance ministers – Shaukat Tareen, Hafeez Shaikh – former governors of...

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Talks between IMF and Pakistan concluded

Talks between IMF and Pakistan concluded

The International Monetary Fund (IMF) has established a bailout package for Pakistan as talks between the two sides concluded between the IMF and Pakistani delegation to the United States, media sources reported. The IMF has agreed to a three-year bailout package for Pakistan, after a high-level delegation led by Finance...

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IMF programme to conclude soon for Pakistan: Asad Umar

IMF programme to conclude soon for Pakistan: Asad Umar

According to sources, Finance Minister Asad Umar has said negotiations with IMF officials over a package for Pakistan are likely to conclude in the next two days. He had said that Pakistan has been facing a crisis of balance of payments for a long time and we went to the...

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Pakistan’s economic development to slow down and unemployment to increase in 2019: IMF

Pakistan’s economic development to slow down and unemployment to increase in 2019: IMF

The International Monetary Fund (IMF) fears that Pakistan’s economic conditions may get worse in 2019, which in turn would lead to an increase in unemployment and deceleration of economic development. The IMF on Tuesday gave out its report called ‘World Economic Outlook 2019’, stating that economic development would slow down...

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Rupee’s value is in tune with the market: Asad Umar

Rupee’s value is in tune with the market: Asad Umar

According to media reports, Finance Minister Asad Umar said that there is no reason for any further devaluation in the rupee. Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, the Finance Minister said, “Rupee’s value is in tune with the market and the State...

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Pakistan GDP growth to decelerate further to 3.9% this year: ADB

Pakistan GDP growth to decelerate further to 3.9% this year: ADB

The Asian Development Bank has forecast Pakistan’s economic growth to decelerate to 3.9% in fiscal year 2019 following a pronounced widening of the country’s balance of payments deficit in 2018. In its flagship economic publication titled “Asian Development Outlook (ADO) 2019,” the bank said Pakistan’s GDP growth is forecast to...

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SBP to announce its new bi-monthly monetary policy today

SBP to announce its new bi-monthly monetary policy today

KARACHI: The State Bank of Pakistan will announce its bi-monthly monetary policy on Friday (today), media sources reported. The central bank will release a statement to announce its policy review for the next two months. The focus for the general public in a new monetary policy of the state bank...

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FBR: Regional offices to extend office hours on Friday, Saturday

FBR: Regional offices to extend office hours on Friday, Saturday

According to sources, The Federal Board of Revenue (FBR) has directed all large taxpayer units, corporate regional tax offices and regional tax offices to extend office hours for Friday and on Saturday. The decision was made in order to facilitate the taxpayers in payment of duties and taxes and filing...

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“There has been no change in cash limits or tax rates in any of the two provisions of law.”: FBR

“There has been no change in cash limits or tax rates in any of the two provisions of law.”: FBR

According to sources, The Federal Board of Revenue (FBR) on Wednesday made it clear that the government had not revised rates or limits for tax on cash withdrawal from bank accounts. The FBR’s spokesperson said, “There has been no change in cash limits or tax rates in any of the...

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