News
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CBR clarification about income tax returns under USAS
ISLAMABAD (December 23 2003): Persons having landline phones/mobile phone connections having annual income below the taxable limit should not hesitate…
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Pricewaterhouse Settles Billing Case
Accounting giant PricewaterhouseCoopers has agreed to a $54.5 million settlement in a case that charged it and other major accounting…
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KPMG Criticizes Court's Enron Report
Big Four accounting firm KPMG said a critical report by an independent examiner in Enron Corp.'s bankruptcy accusing the firm…
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CBR to withdraw contravention cases: SRO 554/98 interpretation
ISLAMABAD (December 20 2003): The Central Board of Revenue (CBR) has decided to withdraw contravention cases against all exporters who…
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Revenue Board issues procedure for blacklisting units
ISLAMABAD (December 21 2003): The Central Board of Revenue (CBR) has empowered the collectors of sales tax to blacklist any…
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ICMAP calls for increased role of cost auditors
The Institute of Cost and Management Accountants of Pakistan (ICMAP) has recommended to the Central Board of Revenue (CBR) that…
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FASB Issues Exposure Drafts to Support Convergence of Global Accounting Standards
The Financial Accounting Standards Board (FASB) in the USA will issue four Exposure Drafts that would improve U.S. generally accepted…
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IASB issues revised standards 32 and 39 focussing on Financial Instruments
The International Accounting Standards Board (IASB) has issued revised versions of its two Standards dealing with financial instruments. IAS 32…
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IASB issues 13 revised accounting standards and withdraws IAS 15
The International Accounting Standards Board (IASB) has published 13 revised International Accounting Standards (IASs) and gave notice of the withdrawal…
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Zero-rated duty notified on import of wheat
ISLAMABAD (December 17 2003): Following the decision of Economic Co-ordination Committee (ECC) of the Cabinet, the Central Board of Revenue…
