Islamabad, Nov 12: The Federal Tax Ombudsman (FTO), Dr. Asif Mahmood Jah, has instructed the Federal Board of Revenue (FBR) to address discriminatory sales tax registration. This came after a business forum filed a complaint about the sales tax registration process. The complainant wanted single-shop retailers removed from the Tier-1 list, which requires them to integrate with the FBR’s Point of Sale (POS) System. According to SRO 608(1)/2014, retailers with shop areas of 1000 sq ft or more must integrate with the FBR POS System. The complainant argued that sales tax should be based on turnover, not shop area. The…
Author: Mawadat Fatima
Islamabad, Nov 12: The 10th edition of Dubai Design Week ended on Sunday at the Dubai Design District (d3), solidifying Dubai’s position as a global design hub. This year’s event was the largest yet, with over 500 exhibitors and creative leaders from more than 40 countries, showcasing the UAE’s commitment to global talent and cultural exchange. Dubai Design Week strengthens the city’s cultural identity by uniting diverse voices and artistic expressions. This year’s event emphasized multicultural representation, with artists from Palestine, Iran, India, and the UAE. Dutch artist Linda Nieuwstad, known for her colorful flower sculptures, praised Dubai as a…
Islamabad, Nov 12: Islamabad is preparing for unpredictable weather. The Meteorological Department has issued an update, warning of rain and sunshine. The forecast predicts light to moderate rain throughout the day. Some areas may experience heavier showers. A weather system moving across northern Pakistan is influencing the city’s climate. This rain will provide relief from the recent heatwave and reduce humidity. There will also be sunny intervals, making the weather changeable. The maximum temperature is expected to be around 30°C, with high humidity. Evening temperatures will drop slightly, offering some relief. Residents are advised to stay updated on the weather,…
Islamabad, Nov 12: On Tuesday, Samba Bank, a subsidiary of the Saudi National Bank (SNB), shared an update with the Pakistan Stock Exchange (PSX) about its shareholding plans. The notice stated that, after due diligence and reviewing options to sell its shares in Samba Bank Limited, SNB has decided to stop the sale process. In April, Bank Alfalah Limited (BAHL), a major commercial bank in Pakistan, expressed intent to buy a majority stake in Samba Bank Limited. The notice read, “We announce that M/s Arif Habib Limited, as offer manager, has submitted a public announcement to acquire up to 84.51%…
Islamabad, Nov 12: Sazgar and Suzuki Lead the Charge in Car Sales with Astronomical Increase Research on Pakistan’s automotive industry shows that car sales increased by 27% month-over-month (MoM) in October 2024, with 13,108 cars sold. This translates to a YoY growth of 112 per cent, and as the numbers from the Pakistan Automotive Manufacturers Association (PAMA) depict it. The sales of first four months of the FY25 were 40,693 units, which is increase from the 27,162 units of the same period of the last fiscal year. This growth is primarily attributed to improved access to funds, a more positive expectation…
Islamabad, Nov 12: PUBG Mobile has released the Player’s favorite PUBG Mobile 3.5 update containing new features to improve the gameplay. This patch is full of new content and changes all aimed at keeping the original players happy as well as plunge newcomers into the gameplay. In this update, you’ll find the following features and improvements more or less summarized in a nutshell. What’s New in PUBG Mobile 3.5? With 3.5, there are new modifications available: a new map with more diversified terrains and main points that contribute to the decisive phase of the conflict. There are new weapons added…
Islamabad, Nov 12: In today’s rapidly evolving digital environment, creators need high-quality tools to bring their ideas to life. Whether you’re an experienced editor or a newcomer, choosing the right laptop for video editing in 2024 is crucial. From effortless 4K editing to managing complex graphics and timelines, the right laptop can enhance your workflow, increase productivity, and elevate editing quality. With numerous options available, how do you find the best for high-performance video editing? Here’s a look at the top models making a mark in 2024. Essential Features for a Video Editing Laptop There are features for which one…
Islamabad, Nov 12: The Inland Revenue Service Officers Association (IRSOA) strongly condemns a recent incident at Karachi’s Regional Tax Office (RTO), where staff at a private wedding hall prevented a team led by Assistant Commissioner (IR) Rai Hamza Ahmed from performing their official duties. This incident, described by IRSOA as a blatant violation of legal authority, demands urgent action. The association has repeatedly called for strengthened enforcement measures, highlighting the routine risks IRS personnel face. IRSOA emphasized the need to properly resource the Inland Revenue Enforcement Network (IREN), established under SRO 250(I)/2019, which has proven successful despite limited funding. They…
Islamabad, Nov 12: Pakistan cricket team’s interim white-ball head coach, Jason Gillespie, voiced disappointment over the lack of attention surrounding his team’s recent ODI series win against Australia. Pakistan celebrated a significant 2-1 series victory on Australian soil, marking their first in 22 years, but many former players and cricket analysts expressed discontent at the absence of celebration for this milestone. Criticism was also directed at Cricket Australia’s decision to rest several top players for the decisive ODI match, a move that didn’t sit well with former captain Michael Clarke. Lacking their more experienced players, Australia struggled in the final…
Islamabad, Nov 11:An International Monetary Fund (IMF) delegation has arrived in Pakistan to begin talks with the Federal Board of Revenue (FBR) officials regarding the nation’s fiscal performance. The FBR chairman led the team in presenting tax collection and revenue data for the first quarter of the current fiscal year. FBR officials revealed that tax revenue amounted to Rs2,625 billion between July and September, fulfilling 96.6% of the quarterly target. However, between July and October, there was a Rs190 billion shortfall in achieving the overall tax target. The IMF delegation was informed that FBR raised an extra Rs8 billion in…
