News
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Accountants Must Embrace Change and Seize Opportunities, say World Accounting Bodies CEOs
Kuala Lumpur (November 12, 2010) – Chief executive officers of accounting institutes from around the world shared their visions on…
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Global Economic Recovery in Reverse in Q3 2010, say Accountants
KARACHI (November 10, 2010) – The fragile global economic recovery has gone into reverse in the third quarter of 2010,…
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World Bank Asks FBR to Develop Simple Accounting System for Small Taxpayers
ISLAMABAD (November 02, 2010) – The World Bank review mission has asked the Federal Board of Revenue (FBR) to develop a…
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Withholding Tax Statements Filed by Agents u/s 165 of ITO to be Desk Audited
ISLAMABAD (November 02, 2010) – The withholding tax (WHT) statements filed by the withholding agents under section 165 of the Income…
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SECP Extends Validity Periods of CRS and CEES
ISLAMABAD (November 02, 2010) – The Securities and Exchange Commission of Pakistan (SECP) has further extended the validity period of the…
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IASB Issues Additions to IFRS 9 for Financial Liability Accounting
LONDON (October 30, 2010) – The International Accounting Standards Board (IASB) has issued requirements on the accounting for financial liabilities.…
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IASB, FASB and Deloitte Discuss Future of Global Accounting Standards at IFRS Summit
(NEW YORK, October 29, 2010) – Deloitte's third annual International Financial Reporting Standards (IFRS) Summit drew more than 200 chief…
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AFP Asks G20 Nations to Delay Deadline on US GAAP, IFRS Convergence on Lease Accounting
(WASHINGTON, October 22, 2010) – The Association for Financial Professionals (AFP) has asked the G-20 nations to delay the June…
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SBP Revises Minimum Paid-up Capital Requirement (MCR) for Banks to Rs.10 Billion
KARACHI (October 14, 2010) – The State Bank of Pakistan (SBP) has enhanced the minimum paid up capital requirement (MCR)…
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Standard Rate for Reformed General Sales Tax (RGST) Proposed
ISLAMABAD (October 12, 2010) – The standard rate of sales tax under the reformed general sales tax (RGST) has been…