PESHAWAR - PTI-led Khyber Pakhtunkhwa government has presented a balanced, tax-free budget for the fiscal year 2013-14.Finance Minister Sirajul Haq presented on Monday Rs344 billion budget in the provincial assembly session, which began with Speaker Asad Qaisar in the chair.The total resources ...

LONDON : Britain turned up the pressure on other rich economies to clamp down on secretive money flows at a summit next week by pressing its overseas tax havens into a transparency deal and announcing new disclosure rules for UK firms. Cameron for progress on closing global tax loopholes when he ...

PARIS : Tax evasion and banking secrecy, hot topics and top targets because of the financial crises and austerity, could be the focus of strong statements at the G8 meeting this week. The UK govt, organising the meeting in N Ireland, has promised big developments on the basis of substantial ...

MADRID - Barcelona's Argentina forward Lionel Messi and his father have been accused by Spanish tax authorities of defrauding the state of more than four million euros ($5.3 million). The World Player of the Year and his father Jorge allegedly filed fraudulent tax returns for the years 2006, 2007, ...

Islamabad- The government has given tax exemptions worth Rs 239.535 billion to different sectors during outgoing financial year 2012-13 against Rs 205.920 billion during previous fiscal year 2011-12, revealed the Economic Survey on TuesdayAccording to Economic Survey 2012-13, the cost of ...

ISLAMABAD - Minister for Finance, Revenue, Economic Affairs, Statistics and Privatisation, Mohammad Ishaq Dar Saturday said his main principles would be transparency in the working, adherence to law and rules, austerity, out-of-the-box thinking, good governance and zero tolerance for ...

RAWALPINDI : Excise and Taxation (E&T) department has decided to hold a general survey regarding property tax in the province. The E&T department officials said that the survey will be done to include new units in the tax net and the department will earn millions of rupees revenue in terms ...

Every developed nation heavily depends on its taxes for development and government funds. Pakistan is the most amazing nation, well maybe there are many more of which I don’t know, which does not pay tax. I asked a friend who has a large garment factory if he paid tax, he burst out laughing ...

BUFFALO (UPI): - A 42-year-old New York state man has admitted trying to scam the Internal Revenue Service out of $217,520 in refunds he sought in the names of 122 dead people. The US attorney’s office said in a release John M Berry Jr of Dunkirk, pleaded guilty in US District Court in ...

DUBLIN - The Irish government is examining options to close a loophole in its tax system that has allowed multinational companies to significantly reduce taxes they pay on profits, the Sunday Business Post newspaper reported.Ireland has been criticized by British and U.S. legislators in recent ...

GENEVA - China’s Premier Li Keqiang has slammed the European Union for plans to probe the country’s telecom products and impose taxes on its solar panels, Chinese state media reported on Saturday.Cited by the Xinhua news agency, Li said the planned measures would “not only cause ...

Geneva - China’s Premier Li Keqiang has slammed the European Union for plans to probe the country’s telecom products and impose taxes on its solar panels, Chinese state media reported on Saturday.Cited by the Xinhua news agency, Li said the planned measures would “not only cause ...

Lahore- The recently proposed 5 per cent withholding tax on automobile industry will not only shoot up the prices of different models of cars by thousands of rupees but also cause further decline in the sales of automobiles, warned the automobile assemblers representatives’ body.Director ...

MADRID : A Spanish judge Friday ordered an investigation into the tax affairs of King Juan Carlos's youngest daughter, Princess Cristina, adding to the woes of the scandal-hit royal family.A judge in Palma de Mallorca demanded the tax authorities provide him with a report on Cristina's property and ...

GUJRANWALA The Gujranwala Chamber of Commerce and Industry (GCCI) rejected the caretaker government’s plan to impose wealth tax and increase rate of sales tax while PML-N’s Ishaq also quashed reports about the new tax. The GCCI office-bearers opposed the plan during a meeting here ...

LAHORE  : Pakistan Tax Bar Association and Lahore Tax Bar Association have demanded of the government to appoint a capable person on the important post of Federal Tax Ombudsman otherwise it would be impossible to yield desired results.  These views were expressed by President Pakistan Tax ...

LAHORE - Lahore Tax Bar Association (LTBA) has rejected the caretaker government’s decision of appointing a bureaucrat Khwaja Siddique Akbar as Federal Tax Ombudsman (FTO) as reported in a section of press on Wednesday.The incumbent Ombudsman Shuaib Suddle, a retired PSP officer, is scheduled ...

LONDON: Beatles biographer Hunter Davies has donated letters and lyrics by John Lennon to the British Library as part of a new tax relief scheme. His collection, which includes handwritten lyrics to Strawberry Fields Forever, is the first donation through the new Cultural Gifts Scheme. The ...

MOSCO 0 Tax administrators from 45 countries urged their govts to combat tax fraud and avoidance by boosting coordination and transparency, vowing to find tax evaders anywhere they might hide. Meeting for a summit, heads of tax administrations of the FTA reaffirmed their commitment to fight against ...

BEIJING - China will not pay for CO2 emissions by its airlines on flights within Europe, a top civil aviation official reportedly said after the European Commission warned eight Chinese firms face fines for nonpayment.The world’s second largest economy “will not accept any unilateral ...

LAHORE - FBR Chairman Ansar Javaid on Saturday directed all tax collectors to broaden the tax net and make all-out efforts to achieve the revenue targets.While chairing two separate high level meetings of all tax collectors based in Punjab province, the FBR chief reviewed thoroughly their targets ...

lahore - At a time when the business community is striving to accelerate economic activity in the country, the bureaucracy is all out to decelerate it and a Punjab Local Government notification dated April 5, 2013 is a classic example to this regard.The LCCI President Farooq Iftikhar said that an ...

LAHORE – Excise and Taxation property tax department on Monday claimed to have collected Rs320 million property tax by April, 2013 from July 2012, said spokesman of E&T. He said that said collected revenue was 83 percent of the tax target set by Punjab government. He said that department ...

BRUSSELS - As tens of millions languish on the dole with EU austerity blamed for deepening recession, finance ministers will switch their focus Tuesday from bailout negotiations to the pursuit of a trillion-euro annual tax-fraud bounty.European Union governments are looking to ready a package that ...

lahore - The importers as well as dealers have emphasized the government to broaden the tax base rather than increase sales tax ratio by 2-3 per cent. Under the present circumstances when country’s economy has been crippled due to severe energy crises, law and order situation, high inflation ...

VIENNA - A 22-year-old Austrian had the shock of his life when he received a tax bill for more than 29 million euros ($38 million), a newspaper reported Wednesday.Agadir B. told the Heute daily he got the bill after filing his tax return for 2008, when he earned around 600 euros a month as a ...

ISLAMABAD  -  A group of sixty-nine senior civil servants participating in the 98th National Management Course (NMC) and faculty of National School of Public Policy (NSPP) visited Federal Board of Revenue (FBR) house.Member Facilitation & Taxpayers’ Education (FATE) Riffat ...

NEWARK: A US magistrate judge sentenced Grammy-winning hip hop artist Lauryn Hill to three months in prison, three months in home confinement and a $60,000 fine for tax evasion. Hill pleaded guilty last year to three counts of failing to file tax returns on more than $1.8m of income between 2005 ...

LAHORE - The Punjab cabinet on Tuesday finalised a number of matters. They include arrangements and security plan for free, transparent, impartial and peaceful conduct of general elections in the province, up-gradation of Fatima Jinnah Medical College to Fatima Jinnah Medical University, reduction ...

ROB CRILLYIn a country where almost no-one pays income tax, including more than two thirds of MPs, it only took seven months for Ali Arshad Hakeem to become a hated man.As Pakistan’s newly-minted chief taxman, he built a database designed to monitor the spending habits of millions of people, ...