News
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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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RCITs told to issue notices to 8,000 corporate non-filers
ISLAMABAD (May 24 2004): The Central Board of Revenue (CBR) has directed Regional Commissioners of Income Tax (RCITs) including Director…
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GAAP reporting language formalized for Canada
Canadian accounting firms, consultants and software vendors have worked out a set of local terms to help speed adoption of…
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Implementation of accounting standards stressed
Economic growth in the region of Arabian Gulf, Middle East and South Asia can only sustain when corporate structure is…
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Asia-Pacific accountants to meet in Dhaka
The 16th conference of the Confederation of Asian and Pacific Accountants (CAPA) will be held in Dhaka, Bangladesh on Monday,…
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Bank Sues BDO Seidman for $170 million
In a lawsuit that draws comparisons with Arthur Andersen's role in the Enron scandal, Banco Espirito Santo International sued BDO…
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Amnesty schemes not to affect right of appeal: Revenue Board
ISLAMABAD (May 22 2004): The Central Board of Revenue (CBR) has conveyed to the chartered accountant firms that amnesty schemes…
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Revenue Board rejects move to levy CED on service providers
ISLAMABAD (May 22 2004): The Central Board of Revenue (CBR) has turned down a budget proposal prepared by sales tax…
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Contractors can be taxed individually, not jointly: Peshawar High Court
PESHAWAR (May 22 2004): A division bench of Peshawar High Court (PHC) has dismissed two appeals filed by Income Tax…
