Accounting News
Economic and Finance News
Displaying items 1-15 from a total of 1809 item(s).
Revenue Collection Increased by 27.4 percent in July-September 2011: FBR
ISLAMABAD (October 04, 2011) - The Federal Board of Revenue (FBR) has realized a total provisional collection of Rs.373.819 billion during the first quarter of July-September 2011-12 showing an overall increase of 27.4 percent as compared to same period of last fiscal year.
Published on 10/4/2011
SECP Seeks Comments on Draft of Fertilizer Industry (Cost Accounting Records) Order, 2011
KARACHI (October 03, 2011) - The Securities and Exchange Commission of Pakistan (SECP) has sought objections or suggestions from stakeholders in next thirty days about the draft of Fertilizer Industry (Cost Accounting Records) Order, 2011, issued vide SRO 852-I-2011.
Published on 10/3/2011
Salient Features and Highlights of the Federal Budget 2011-12
ISLAMABAD (June 03, 2011) - The federal budget for the fiscal year 2011-2012 was announced on Friday. Following are its salient features and highlights:
Published on 6/3/2011
Highlights of the Economic Survey of Pakistan 2010-11
KARACHI (June 02, 2011) - The Ministry of Finance has today released the annual Economic Survey for the year 2010-11 which reports on the performance of the Pakistani economy. Following are its salient features and highlights.
Published on 6/2/2011
SECP Approves Futures Contract in Cotton for Commodities Market
ISLAMABAD (May 06, 2011) - The Securities and Exchange Commission of Pakistan (SECP), as part of its mandate to develop and strengthen the commodities market, has granted approval to the Pakistan Mercantile Exchange Limited (PMEX) for introduction of the futures contract in cotton.
Published on 5/6/2011
SECP Registered 338 Companies in April 2011
ISLAMABAD (May 03, 2011) - The Securities and Exchange Commission of Pakistan (SECP) has registered 338 companies in April 2011, whereas 342 companies were incorporated last month and 322 in the corresponding month of last year.
Published on 5/3/2011
Meezan Bank Records 61% Growth in Quarterly Post-tax Profit
KARACHI (May 02, 2011) - Meezan Bank recorded 61% growth in its post-tax profit for the quarter ended March 31, 2011. A statement said here on Monday that the Profit after tax for the quarter increased to Rs.586 million as compared to Rs.364 million in the corresponding quarter last year.
Published on 5/2/2011
FBR Gives Inland Revenue Officials Power to Demand Tax Record
ISLAMABAD (November 15, 2010) -The Federal Board of Revenue (FBR) has empowered all officials of Inland Revenue, authorised by the concerned commissioner, to direct taxpayers for submitting tax records/documents to conduct sales tax audit under section 25 of the Sales Tax Act, 1990.
Published on 11/15/2010
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 Companies Regularisation Scheme (CRS) and the Companies Easy Exit Scheme (CEES) for another month, up to November 30, 2010, according to its Circular No 25 of 2010, its press release on Monday said.
Published on 11/2/2010
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 Tax Ordinance 2001 (ITO) for first quarter (July-September) of 2010-11 would be subjected to desk audit to check discrepancies in payment of taxes for improving collection during current fiscal.
Published on 11/2/2010
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 simple accounting system for small taxpayers by March 2011 to encourage documentation in the country. Sources told reporters here on Monday that the FBR has a huge number of small taxpayers in its taxpayers' register.
Published on 11/2/2010
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) (free of losses) by 400 percent, to Rs 10 billion, with immediate effect, with a view to tightening criteria for setting up a commercial bank.
Published on 10/14/2010
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 proposed as 17 percent to avoid any major revenue shortfall during the remaining months of current fiscal (2010-11).
Published on 10/12/2010
Highlights of the the Federal Budget 2010-11
KARACHI (June 06, 2010) - The finance minister yesterday announced the federal budget for 2010-2011 in the parliament. The highlights of the budget are listed below.
Published on 6/6/2010
FBR Waives Annual Sales Tax Audit Requirement for Steel Melters/ Re-rollers
ISLAMABAD (May 26, 2010) - The Federal Board of Revenue (FBR) has withdrawn the condition of compulsory sales tax audit of steel melters and re-rollers annually, who opt to pay sales tax ad valorem under Sales Tax Special Procedure Rules 2007. The FBR has amended Sales Tax Special Procedure Rules 2007 through a notification issued here on Tuesday.
Published on 5/26/2010
