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Articles for tag: Deadlock, FBR, Latest, overhaul, sifc

January 20, 2024

News Desk

Deadlock on FBR overhaul

Islamabad: Finance Minister Dr Shamshad Akhtar and the Internal Revenue Service (IRS) remained firm on their respective positions on Friday, raising the possibility of military intervention to break the impasse over sending a summary to the federal cabinet for approval of the tax overhaul . A day after her outburst against tax officials, Akhtar visited the Federal Board of Revenue to explain the rationale behind her plan to dissolve the board and establish new independent entities for Customs, the IRS and policy-related boards. . However, sources say that both sides did not budge from their stated positions and the meeting

January 20, 2024

News Desk

Deadlock on FBR overhaul

Islamabad: Finance Minister Dr Shamshad Akhtar and the Internal Revenue Service (IRS) remained firm on their respective positions on Friday, raising the possibility of military intervention to break the impasse over sending a summary to the federal cabinet for approval of the tax overhaul . A day after her outburst against tax officials, Akhtar visited the Federal Board of Revenue to explain the rationale behind her plan to dissolve the board and establish new independent entities for Customs, the IRS and policy-related boards. . However, sources say that both sides did not budge from their stated positions and the meeting

January 17, 2024

News Desk

France pledges to overhaul parental leave as birthrates fall to post-war lows

A mother and her baby enjoy the sunset on the beach in Calais, France, August 16, 2023. — Reuters French President Emmanuel Macron has pledged a comprehensive reform of parental leave in response to the country witnessing its lowest birth rate since World War II. Reuters mentionted. The decline, with 678,000 births in 2023, a 7% drop from 2022 and a 20% drop from the 2020 peak, is a challenge to France’s traditionally strong demographic profile. France, which stands out from its European counterparts in maintaining birth rates, attributes its resilience to a strong health and childcare system, combined with

January 16, 2024

News Desk

SIFC approves FBR overhaul, phasing out of subsidies

Caretaker Prime Minister Anwaar-ul-Haq Kakar while presiding over a meeting in Islamabad. — APP/File A special committee was formed to restructure the FBR. The restructuring of PRAL with Nadra also gets the green light. The CMs have asked to launch a crackdown on fertilizer hoarding. ISLAMABAD: The Special Investment Facilitation Council (SIFC) jointly run by the civilian and military top brass has approved a plan to restructure FBR, PRAL with Nadra and introduce a simplified system for retailers within a period of 15 days. The SIFC Apex Committee also considered a proposal of the Finance Department and approved that the

January 13, 2024

News Desk

IRS strikes against FBR overhaul

Islamabad: Days after Finance Minister Dr Shamshad Akhtar warned to slow down revenue collection in protest against the restructuring of the tax machinery, Pakistan’s largest tax office observed a strike. The General Board of Revenue in Karachi threw the first stone and went on strike against the caretaker government’s decision to abolish the Federal Board of Revenue (FBR) and set up two new boards comprising two separate departments of Customs and Inland Revenue. Sources told The Express Tribune that the FBR senior management had twice warned the caretaker finance minister that there was resentment among field offices against the restructuring

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