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Tag Archives: mechanism

Indonesia, Singapore join hands to exchange tax information

JAKARTA: Indonesia and Singapore have agreed to step up efforts to share tax-related information to tighten loopholes on tax evasion in each other’s countries, Indonesia’s finance ministry said. The commitment came after a meeting between Indonesian Finance Minister Bambang Brodjonegoro and his counterpart Tharman Shanmugaratnam in Singapore. Indonesia and Singapore have had an agreement to exchange tax-related information upon request, ... Read More »

42-paisa per unit cut: K-Electric ordered to share Rs5.421b with consumers

ISLAMABAD: Top power sector watchdog the National Electric Power Regulatory Authority (Nepra) ordered K-Electric to shares benefits of Rs5.412billion from its profits with its consumers and provide them immediate relief. According to reports, the Nepra’s decision comes as part of a mechanism included in K-Electric’s approved tariff in 2009, under which the power distribution company is bound to pass on ... Read More »

FBR takes exception to misuse of SRO 77(I)2013 by sugar sector

KARACHI: Taking strong exception to serious irregularities in collection of sales tax, Federal Excise Duty (FED) and income tax from sugar sector, the Federal Board of Revenue (FBR) has directed the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) to act on the report of Directorate General Audit, Inland-Revenue (South), Karachi. According to reports, the sugar sector has committed ... Read More »