News
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CBR asked not to levy sales tax on computers
ISLAMABAD (May 29 2004): The government has directed the Central Board of Revenue (CBR) not to amend Sixth Schedule of…
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Input tax adjustment on diesel used in power generation proposed
ISLAMABAD (May 29 2004): Industries Ministry has proposed that manufacturers having self-generation permission should be allowed to adjust input tax…
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SBP issues guidelines on internal controls in banks and DFIs
KARACHI (May 29 2004): The State Bank of Pakistan on Friday issued detailed guidelines on internal controls to protect the…
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10.5 percent sales tax refund allowed to solvent extractors
ISLAMABAD (May 26 2004): Giving a major relief to oil extraction industry, the Central Board of Revenue (CBR) has allowed…
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DFIs to keep Rs 1 billion minimum paid-up capital
KARACHI (May 26 2004): The State Bank on Tuesday said that development finance institutions (DFIs) will also be required to…
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Ernst & Young Says It Faces Criminal Inquiry on Shelters
Ernst & Young, the big accounting firm, said yesterday that federal prosecutors were investigating tax shelters it had promoted and…
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Indonesia to get 'Green' accounting standard
The Office of the State Minister for the Environment signed a memorandum of understanding (MoU) on Tuesday with the Association…
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PwC pays $50m over Raytheon
Auditor PricewaterhouseCoopers has agreed to pay $50m (£28m) to settle claims with New York State regarding its role in a…
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Procedure for advance tax payment clarified
ISLAMABAD (May 26 2004): The Central Board of Revenue (CBR) has announced procedure for the payment of advance tax in…
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Moneychangers allowed to form B category exchange companies
KARACHI (May 26 2004): The State Bank of Pakistan (SBP) has in principle decided that the existing authorised moneychangers may…
