LAHORE: Pakistan Muslim League-|N leader and former National Assembly Speaker Sardar Ayaz Sadiq has said the National Accountability Bureau needs no reformation but scrapping altogether.He was...

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RAWALPINDI: Punjab Information Minister Fayyaz-ul-Hassan Chohan Saturday said that Information Department would give Rs100,000 to media worker affected by COVID-19 while in case of an unfortunate...

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ISLAMABAD: Textile Industry has submitted with the government its budgetary proposal for budget 2020-21 asking for abolishing turnover tax, reduction of corporate tax to 25 percent and withdrawal of...

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LAHORE: Pakistan Muslim League-|N leader and former National Assembly Speaker Sardar Ayaz Sadiq has said the National Accountability Bureau needs no reformation but scrapping altogether.He was...

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KARACHI: Pakistan Tehreek-e-Insaf Karachi President Khurram Sher Zaman on Saturday claimed that the Sindh government is exaggerating the number of COVID-19 cases to keep the markets shut down. The ...

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ISLAMABAD: Textile Industry has submitted with the government its budgetary proposal for budget 2020-21 asking for abolishing turnover tax, reduction of corporate tax to 25 percent and withdrawal of...

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PESHAWAR: Contrary to the opinion of doctors, the small traders and general public are fed up with the prolonged lockdown and have started violating the restrictions put in place for their...

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TIMERGARA: The volunteers of the Prime Minister’s Corona Relief Tiger Force were urged to serve the people without any political consideration. They were administered oath at a ceremony at...

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MARDAN: Food packages were distributed among 1,196 deserving families in different parts of the district on Saturday.According to a press release, Additional Deputy Commissioner Hazrat Ali, Assistant...

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PESHAWAR: Minister for Health and Finance Taimur Saleem Jhagra on Saturday said the health system was being upgraded to deal with the coronavirus as well as dengue and polio.He was talking to...

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DIR: The Prime Minister’s Volunteer Tiger Force for Covid-19 was inaugurated in Upper Dir the other day.In this regard, a simple function was organised at the district council hall in Dir town...

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KARACHI: Pakistan Tehreek-e-Insaf Karachi President Khurram Sher Zaman on Saturday claimed that the Sindh government is exaggerating the number of COVID-19 cases to keep the markets shut down. The ...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

ISLAMABAD: Textile Industry has submitted with the government its budgetary proposal for budget 2020-21 asking for abolishing turnover tax, reduction of corporate tax to 25 percent and withdrawal of...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

LAHORE: Pakistan Muslim League-|N leader and former National Assembly Speaker Sardar Ayaz Sadiq has said the National Accountability Bureau needs no reformation but scrapping altogether.He was...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

In-depth stories, analyses, features on the gov't response to #COVID19PH, including state of public health system & impacts of #COVIDPHQuarantine on the most vulnerable.

The post Beyond the virus: COVID-19 Special Coverage appeared first on Bulatlat.

The Awami National Party Sindh chapter has decided not to hold a gathering to commemorate the May 12 carnage because of the coronavirus outbreak.ANP Sindh president Shahi Syed said that the May 12, 2007, tragedy was unforgettable for them and the party would continue to commemorate it until those...

The Pakistan Tehreek-e-Insaf Karachi president and MPA Khurrum Sher Zaman on Saturday said that one of his Friday statements had been misrepresented and therefore he tendered his apologies if it had hurt anyone’s sentiments.Zaman came under severe criticism by a section of activists on...

CARACAS: Venezuela has charged two former US soldiers with terrorism and conspiracy for allegedly taking part in a failed bid to topple President Nicolas Maduro, the attorney general said on Friday.Luke Alexander Denman, 34, and Airan Berry, 41, were among 17 people captured by the Venezuelan...

LONDON: Britain’s spy agency has revealed the last messages from a German military communications network that were intercepted during World War II at Bletchley Park, the mansion house where Nazi codes were cracked. The secret messages, sent on May 7, 1945, were made public for the first...

BRUNSWICK: Many people saw more than the last moments of Ahmaud Arbery’s life when a video emerged this week of white men armed with guns confronting the black man, a struggle with punches thrown, three shots fired and Arbery collapsing dead.The Feb. 23 shooting in coastal Georgia is drawing...

CARACAS: Venezuela has charged two former US soldiers with terrorism and conspiracy for allegedly taking part in a failed bid to topple President Nicolas Maduro, the attorney general said on Friday. Luke Alexander Denman, 34, and Airan Berry, 41, were among 17 people captured by the Venezuelan...

GENEVA: In one of the world´s most expensive cities, thousands of people lined up Saturday for free food, as the COVID-19 crisis casts a spotlight on Geneva´s usually invisible poor.In the Swiss city famous for its private banks, luxury watchmakers and fancy boutiques, people began...

TUNIS: Jet fuel tanks at Tripoli’s Mitiga airport were targeted in an attack on Saturday that caused a large fire, Libya’s National Oil Corp said.Mitiga is the last functioning airport in the Libyan capital, though civilian flights stopped in March because of repeated shelling even...

MADRID: Spanish Prime Minster Pedro Sanchez warned Saturday that the coronavirus pandemic remains a threat, lying in wait as the country moves towards easing its strict lockdown. One of the worst-hit countries, Spain plans a phased transition through to end-June, with around half of the 47 million...

CARACAS: Venezuela has charged two former US soldiers with terrorism and conspiracy for allegedly taking part in a failed bid to topple President Nicolas Maduro, the attorney general said on Friday.Luke Alexander Denman, 34, and Airan Berry, 41, were among 17 people captured by the Venezuelan...

LONDON: Britain’s spy agency has revealed the last messages from a German military communications network that were intercepted during World War II at Bletchley Park, the mansion house where Nazi codes were cracked. The secret messages, sent on May 7, 1945, were made public for the first...

GENEVA: In one of the world’s most expensive cities, thousands of people lined up on Saturday for free food, as the Covid-19 crisis casts a spotlight on Geneva’s usually invisible poor.In the Swiss city famous for its private banks, luxury watchmakers and fancy boutiques, people began...

TUNIS: A Tunisian NGO has set up a food bank that dispenses aid by text message to some 300 needy families rendered more vulnerable because of the coronavirus pandemic.The initiative, which had been long in the making, was finally launched at the end of April to coincide with the start of the holy...

Islamabad : Tarnol Police on Friday raided a fake beverage factory in its area and confiscated thousands of empty and filled bottles of various brands, a police spokesman said on Friday.Following directions and guidance of IGP Islamabad Muhammad Aamir Zulfiqar, the police spokesperson said that...

Islamabad : Industrial-Area police have arrested a wine dealer and recovered 115 bottles of wine and 150 litres liquor from him, a police spokesman said.He said that Deputy Inspector General of Police Waqar Uddin Syed assigned special task to SP Industrial Area Zubair Ahmed Sheikh, to ensure...

Islamabad : Parliamentarians and civil society representatives while participating in a virtual conference urged the government to urgently develop an integrated mechanism engaging different stakeholders and active civil society organizations to reach out to a variety of daily workers and...

ISLAMABAD: The Federal Board of Revenue (FBR) has drafted tax proposals for Budget 2020-21 mainly focusing on “simplification of laws and removing tax anomalies,” Dawn has learnt from knowledgeable sources.

Unconfirmed reports are that the government is likely to announce a ‘tax-free budget’, an official in the FBR told Dawn, adding a final decision will be taken after consulting with the International Monetary Fund (IMF) after Eidul Fitr.

Also read: Govt, IMF agree to put on hold $6bn programme

Meanwhile, Finance Adviser Abdul Hafeez Shaikh has already termed the next year budget a ‘corona-budget’.

It will depend on the IMF whether it considers Pakistan’s proposal to lower tax target for TY21. The Fund had proposed a tax target of Rs5.1 trillion for the next year, which is higher by 30pc from the FY20’s proposed collection.

Consultation with IMF after Eidul Fitr

For the current year, the IMF has lowered the FBR tax target to Rs3.9tr, from Rs4.8tr to subside the impact of Covid-19 on businesses. However, achieving this benchmark also depends on the revival of activity before and after Eid and the entire June, the official added.

Another senior tax official told Dawn that the Fund officials meeting with Pakistani economic team will determine the direction of the next budget whether it will be tax-free or have some taxation to achieve the following year’s target.

The official said the FBR has already completed its homework on budget proposals for the next year and is currently working on identifying anomalies that should be removed.

“We are also working on simplification of tax laws to facilitate taxpayers,” the official said.

At the same time, the FBR is also engaging all stakeholders to identify problems related to taxation for redressal. “We will also consider tax incentives in the next budget for some sectors to help them revive their business,” they added.

Some of the proposals on the table from stakeholders are the revival of zero-rating for the five export-oriented sectors, allowing lower rates of sales tax on domestic sales of textile, clothing, waiver of CNIC conditions for traders and reducing the sales tax rate to 5pc from 17pc. “These are the demands of the stakeholders,” the official said.

Tax officials privy to budget-making said the FBR will try to avoid the introduction of new tax measures but will defend the continuation of those already in place. “It will be best to preserve our existing tax measures for now and see onward in the year how it progresses,” the officials commented.

At the moment, the focus is on the ease of doing business and facilitating taxpayers through information technology support. As the economy will revive, the FBR will support any new taxation proposals, they continued.

However, a senior tax official said the FBR cannot do away with maximum existing tax measures. “We need money for running the government machinery,” he said, adding other measures like printing of notes will add to inflationary pressure in the country.

The FBR has already worked out the impact of ongoing lockdown and closing down of businesses on the country’s revenue collection. The IMF has approved the incentive package for the construction sector on the request of Prime Minister Imran Khan to create employment.

“We are under an IMF programme so all budget proposals will be discussed with them,” the official said.

The FBR estimates a revenue loss of Rs450 billion in the first quarter (July-September) of next fiscal year in case the partial lockdown remains. It further projects that in case the partial lockdown extends, the tax body will see another shortfall in revenue realisation to the tune of Rs350bn.

According to the official, the FBR will try to recover some portion of the shortfall in the second half of the year. However, the government will have no other options but to seek a loan to bridge revenue shortfall. “You cannot bridge such a huge gap with new tax measures,” the source said.

Moreover, the FBR estimates also show that imports will remain on the lower side in the first half-year and so is the case of exports until orders revive. The domestic economy will revive to some extent while revenue collection from the services sector will be much lower from last year’s level.

Published in Dawn, May 10th, 2020

CES 2014, LAS VEGAS – HARMAN today announced it will begin delivering targeted audio advertising to its users through a partnership between its Aha Radio and AdsWizz. A leading global technology provider of advertising solutions for the digital radio and audio industries, AdsWizz will be Aha Radio’s primary technology partner in enabling targeted audio advertising in vehicles and mobile phones through the Aha Radio app.This is the first time that the AdsWizz server-side Audio Injector for Streamers (AIS), built to be compatible with most of the market recognized streaming technologies, will be used in the vehicle audioadvertising space.

CHICAGO, IL –HARMAN and Hyundai Motor America today announced the 2015 Genesis will offer the Aha Radio service in the North American market. Aha Radio will be a part of the next generation infotainment systems also debuting in the 2015 Genesis. Hyundai Motor America has integrated the Aha Radio service into Genesis to give its U.S. drivers the ability to access over 100,000 music, entertainment and news stations as well as location-based services in an intuitive manner using their connected iPhone.

GENEVA – HARMAN, the premium global audio and infotainment group (NYSE:HAR), is making one of its strongest showings ever at this year’s Geneva Autosalon, demonstrating infotainment and audio solutions in vehicles from an impressive range of manufacturers. Also testifying to the company’s strength as an industry innovator, HARMAN is showcasing, together with Rinspeed, a new concept car for mobile connectivity within urban spaces. In total, technology and solutions by HARMAN are present in stands throughout the show, demonstrating the predominant role that HARMAN has come to play across the auto industry.

Professional sound systems like those used in performance venues such as stadiums, theaters, cinemas and night clubs need tremendous power to amplify sound to their audiences. In these instances, did you know HARMAN offers audio solutions that reduce...

Little Richard, the self-proclaimed "architect of rock 'n' roll" who built his ground-breaking sound with a boiling blend of boogie-woogie, rhythm and blues and gospel, died on Saturday at the age of 87.

A major U.S. airline trade group on Saturday said it backed the U.S. Transportation Security Administration (TSA) checking the temperatures of passengers and customer-facing employees during the coronavirus pandemic.

Japanese Economy Minister Yasutoshi Nishimura said on Sunday the government is looking to lift the state of emergency in "many of 34 prefectures" that are not among the hardest hit by the coronavirus pandemic before the nationwide deadline of May 31.

Australia's most populous state, home to Sydney, will allow restaurants, playgrounds and outdoor pools to reopen on Friday as extensive testing has shown the spread of the coronavirus has slowed sharply, New South Wales state's premier said on Sunday.

Transport Minister Grant Shapps said at the government's daily news briefing on Saturday that more Britons should cycle or walk to work when the country's coronavirus lockdown is eased to take the pressure off limited public transport capacity under social distancing requirements.

Little Richard, the self-proclaimed "architect of rock 'n' roll" who built his ground-breaking sound with a boiling blend of boogie-woogie, rhythm and blues and gospel, died on Saturday at the age of 87.

The Memorial Tournament in Dublin, Ohio, will use high-tech radio frequency identification (RFID) chips in tournament badges to ensure social distancing is maintained at the July 16-19 PGA Tour event, Golf Digest reported on Saturday.

Apple's iPad mini is here, but does it offer a big experience in a small package or is this just a useless device for many? I like the form factor and it turns out that the lower resolution display isn't all that bad!

Don't think that wireless NFC tags are just for mobile payments. You can do practically anything with them if you know how to program them with small bits of data. Some free apps make this easy and I'm already on the NFC bandwagon at home.

That's the premise behind Brydge, a Kickstarter project that I backed months ago. I opted to add Bluetooth speakers to my Brydge; take a look at how this setup works.

Professor Ashutosh Varshney of Brown University analyzes the current state of India's democratic system as well as the strengths and challenges in this rapidly growing nation. Full interview.

Jan 19 - In an interview with Reuters Global Editor-at-Large Chrystia Freeland, GE CEO Jeffrey Immelt touts the conglomerate's success with joint ventures in China, but says GE has succeeded on its own.

Jan 19 - In an exclusive interview with Reuters Global Editor-at-Large Chrystia Freeland, GE CEO Jeffrey Immelt says true free trade between the the world's top two economies of U.S. and China is crucial.

George Soros explains to Reuters' Chrystia Freeland how German Chancellor Angela Merkel's actions in 2008 could lead to the disintegration of the European Union. Consequently, a disorderly default of European sovereignties may lead to a global financial meltdown worse than 2008. He explains his analysis here.