The Federal Board of Revenue (FBR) on Friday ordered an investigation against the industrial undertakings to verify whether tax credit of over Rs. 5 billion under section 65D of the Income Tax Ordinance 2001 was admissible or tax fraud. FBR Friday ordered detailed verification of records of companies and industrial undertakings, which availed tax credit […]
Ghulam Muhammad Memon Appointed Acting Auditor General of Pakistan
Current Additional Auditor General of Pakistan, Ghulam Muhammad Memon, has been appointed as the Acting Auditor General, according to a notification issued by the Finance Division on Friday. The appointment has been made with immediate effect till the appointment of a regular incumbent. The notification read, “In exercise of the powers conferred under Article 168(6) […]
Pakistan Lacks Privacy Laws for E-commerce: ADB
Pakistan does not have a privacy statute of the general application nor has a national consumer protection statute that applies directly to electronic commerce, says the Asian Development Bank (ADB). ADB, in its report “E-commerce in CAREC countries, laws and policies,” stated that as a national priority, Pakistan adopted an e-commerce policy in 2019 to […]
FBR Issues Clarification About Use of Pirated Software
The Federal Board of Revenue (FBR) has issued a clarification about the news aired by a leading news channel regarding the use of pirated software for its systems. It explained that IT services for the federal and provincial tax authorities such as itself, the SRB, the PRA, etc. are being provided by the PRAL which […]
Pakistan’s Economy is Heading in the Right Direction: Finance Minister
Federal Minister for Finance and Revenue Shaukat Tarin has said that the country’s economy is heading in the right direction. In a meeting with Governor Sindh Imran Ismail at the Governor House, the Minister said international organizations are acknowledging Pakistan’s economic development, according to a news release. He said that increasing the exports of the […]
Federal Ombudsman Directs FGEHA to Award Plots to Remaining Employees in Next Balloting
The federal Ombudsman, Syed Tahir Shahbaz has directed the Federal Government Employees Housing Authority (FGEHA) to accommodate all the leftover employees in the balloting of the second phase. He called for the housing policies, plans, and other information to be placed on the FGEHA’s website and to be updated regularly so that members may be […]