Category: Business

Two-tier rate proposed for Rs230bn revenue yield Govt mulls integrated sales tax Critical SRO1125 on the chopping block ISLAMABAD: The government is fine-tuning proposals to impose general sales tax on several products and withdraw exemptions on many sectors as it moves to put in place one of the most ambitious revenue plans of recent times. The […]

KARACHI: Traders across the country gave a dismal picture of Eid sales this year attributing it to squeezing purchasing power triggered by high food inflation, rising petroleum prices and utility bills while the rupee devaluation had made imported items much more expensive. The country’s food inflation surged to 9.11 per cent in May as against […]

ISLAMABAD: The government has decided to go after the wealthy people having lavish lifestyle if they do not get their assets registered under the recently announced tax amnesty scheme. The decision was taken at a meeting on the upcoming budget presided over by Prime Minister Imran Khan at his Banigala residence. The meeting was also […]

PESHAWAR: Despite having repeatedly failed to realise its revenue targets over the last few years, the Khyber Pakhtunkhwa government has pitched the province’s own receipts in the next financial year at a massive Rs53.4 billion. After holding lengthy deliberations and review of the local revenue system, the finance managers decided to revise the province’s own […]

WASHINGTON: The World Bank slashed its global growth forecasts for this year in a report released Tuesday that portrayed a world gripped by deepening trade conflict, tumbling confidence and increasingly skittish investment. Although the global development lender currently expects a modest recovery 2020 and 2021, the bank said in its semi-annual report that a lot […]

BEIJING: A report Monday on Chinese manufacturing suggested that Beijing’s trade war with the Trump administration is causing economic damage. Surveys of manufacturers across the region for May showed that business confidence has been shaken by the conflict over President Donald Trump’s demands that Beijing change its industrial planning strategy and find other ways to […]

NEW DELHI: The Confederation of Indian Industry (CII) urged the government on Monday to cut the corporate tax rate to 25 per cent from the current range above 30pc when its budget for the year ending March 31, 2020 is presented next month. It also called on the administration of Prime Minister Narendra Modi, who […]

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date of filing of income tax statements for the tax year 2018 till June 30, a press release announced on Monday. The date of filing of returns for companies, individuals and association of persons is also extended to June 30. The decision was taken to […]

ISLAMABAD: Pakistan’s annual consumer inflation picked up to 9.11 per cent in May from 8.82pc the previous month on the back of higher food and petrol prices, the statistics bureau said on Monday, adding to pressure on household budgets. The reading saw big jumps in the prices of staples like cabbage, onions and potatoes, as […]

ISLAMABAD: The centre has decided not to finance water sector projects benefiting one province and new universities from the federal Public Sector Development Programme (PSDP) in future and instead to launch about Rs97.5 billion worth of new schemes next year to boost agriculture, fisheries and livestock. A senior government official told Dawn that most of the new […]