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ISLAMABAD: The ministry of finance has notified revision in basic pay scales and allowances of civil servants of federal government – 2017. The significance of changes is that the ad hoc allowance for 2017 will be subjected to income tax. According to the notification issued on Monday, the following are the criteria for the calculationRead more

ISLAMABAD: The federal government has allowed duty free imports by Edhi Foundation subject to the condition that the imported goods mean for use by the foundation. According to updated First Schedule of Customs Act 1969 issued by Federal Board of Revenue (FBR) stating that following goods imported by Abdul Sattar Edhi Foundation and Bilques EdhiRead more

ISLAMABAD: The government has announced that new or higher rate of capital gain tax will not be applicable on securities purchased up to June 30, 2015. Through Finance Bill 2017, applicable tax rates, based on holding period, on capital gains arising on disposal of securities are proposed to be simplified and flat rates of taxRead more

ISLAMABAD: The government has decided to withdraw the tax rate on dividend received from mutual funds from proposed rate of 12.5 percent to 10 percent. Finance Minister Senator Mohammad Ishaq Dar in his windup budget speech 2017/2018 said that on the recommendations of the parliamentarians the rate of dividend received from mutual fund has beenRead more