Accounting News
Economic and Finance News
Displaying items 1801-1815 from a total of 1815 item(s). dsds
Rs 460 billion revenue target likely to be achieved: Revenue Board chief
LAHORE (October 22 2002) : Riaz Ahmed Malik, Chairman Central Board of Revenue (CBR), has said that revenue target of Rs 460 billion fixed for financial year 2002-03 is likely to be achieved, as a result of recent steps taken by the board.
Published on 10/22/2002
Central Board of Revenue to recover less paid Sales Tax from cement makers
ISLAMABAD (October 22 2002) : The Central Board of Revenue (CBR) has decided to recover sales tax to the tune of millions of rupees from certain cement manufacturers of Iskandarabad, who wrongly interpreted Central Excise Act, 1944, to pay less sales tax against the actual amount.
Published on 10/22/2002
Pak-Swiss agreement for avoidance of double taxation
ISLAMABAD, Oct 15: Pakistan and Switzerland, on Tuesday inked a convention for the avoidance of double taxation between the two countries. The two sides exchanged the document initiated by Vakil Ahmed Khan, Member Direct Taxes, CBR and Eric Hess, Deputy Head of the Division for International Fiscal Law and Double Taxation matters Federal Tax Administration of Switzerland.
Published on 10/16/2002
SEC promises absolving companies
ISLAMABAD, Oct 15: With a view to further streamlining the working of companies, the Securities and Exchange Commission. of Pakistan ) SEC) has decided that companies who will file their statutory returns up to Dec 31 without additional fee, would be absolved of any liability arising from the default in filing such returns within the prescribed period.
Published on 10/15/2002
SBP issues Prudential Regulations for Microfinance Institutions
KARACHI, Oct 15: The State Bank of Pakistan Tuesday issued Prudential regulations for Micro-finance Institutions (MFI's) and Micro finance Banks (MFBs). According to SBP circular 18 dated October 14 and directed to presidents of MFIs, MFBs and Khushhali Bank, Prudential Regulations were issued with to ensure that these institutions operate in a safe and prudent manner. The regulations have been developed after active consultation with the domestic as well as international Microfinance Practitioners/ Experts/ Consultants to ensure their responsiveness with the very nature of business of MFIs/MFBs," SBP said.
Published on 10/15/2002
Shaukat Aziz may continue as finance minister
ISLAMABAD (October 15 2002) : As the tremors of election results jolt the power corridors, one decision seems to be undisturbed and that is the continuation of economic reform agenda and its managers, Shaukat Aziz & Co.
Published on 10/15/2002
Depreciation deduction on used machinery import allowed
ISLAMABAD (October 15 2002) : The government has decided to allow the deduction of depreciation on second-hand plant and machinery while calculating income tax on assets.
Published on 10/15/2002
Dollar slips below Rs 59 in kerb after two years
KARACHI (October 01 2002) : After a long fight for two years the dollar slipped down into the band of Rs 58 and broke the barrier of Rs 59 in the kerb market on Monday.
Published on 10/1/2002
PTCL earns record revenue of Rs 66.4 billion
KARACHI (October 01 2002) : The Pakistan Telecommunication Company Limited (PTCL) has earned highest so far revenue of Rs 66.4 billion and declared a dividend of 27.5 percent for the year ended on June 30, 2002.
Published on 10/1/2002
Tax returns filing date not extended
ISLAMABAD (October 01 2002) : The Member of Direct Taxes, Central Board of Revenue, Vakil Ahmed Khan, has said the government has not extended the date for filing tax returns.
Published on 10/1/2002
Rs 88.2 billion revenue collected in first quarter
ISLAMABAD (October 01 2002) : The federal tax authorities have collected Rs 88.2 billion in the first quarter (July-September) of the current fiscal year 2002-03 against the target of Rs 90 billion, showing a shortfall of Rs 1.8 billion.
Published on 10/1/2002
World Bank chief commends Pakistan
WASHINGTON (October 01 2002) : The World Bank President, James D. Wolfensohn, has commended Pakistan for staying the reform course while urging greater efforts to ensure that the benefits reached the country's poor people.
Published on 10/1/2002
Sui Southern Gas Company´s net profit up 10.9%
KARACHI (October 01 2002) : Sui Southern Gas Company´s full year net profit rose 10.9 percent after boost in sales and cut in financial charges.
Published on 10/1/2002
State Bank of Pakistan keeps export finance rate unchanged for October
KARACHI (October 01 2002) : The State Bank of Pakistan has decided to keep the rate of refinance unchanged for the month of October.
Published on 10/1/2002
Returns to be filed under old ordinance
ISLAMABAD, Sept 21: The Central Board of Revenue (CBR) has clarified that the income tax returns for the period ending June 30, 2002 are to be filed under the repealed Income Tax Ordinance 1979 on the old forms. An official statement issued by CBR on Saturday said that in case of existing taxpayers, wealth statement would accompany all returns of income where income declared was Rs200,000 or more.
Published on 9/21/2002
