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July 2012

ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

Federal Board of Revenue (FBR) has clarified since Capital Gains Tax (CGT) ranging between 5 percent to 10 percent has been imposed only on disposal of properties held for a period up to two years therefore, advance tax at the rate of 0.5 percent is also to be collected from sellers who held the immoveable properties for a period up to two years.

Capital gains on immovable property: Prior to the 18th Constitutional Amendments effective from April 19, 2010 entry 50 of the Federal Legislative List contained in Part-I of the Fourth Schedule to the Constitution of Islamic Republic of Pakistan empowered the Federal Legislature to levy taxes on the capital value of the assets, not including taxes on capital gains on-3-immoveable property. The words ‘on capital gains’ were Read More »ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

Samsung unveils motion controlled angry-birds app for smart TV

 Samsung Electronics Co., Ltd, a global leader in digital convergence technologies, yesterday announced the global availability of the Angry Birds App for Samsung Smart TV. Developed by Rovio Entertainment, a Finnish entertainment media company, Angry Birds is one of the top smartphone apps worldwide.

The game’s fun and colorful characters and engaging gameplay have made it beloved by fans around the world. Since its launch in November 2009, Angry Birds has been downloaded more than 1 billion times, across multiple platforms and all versions of the game.Read More »Samsung unveils motion controlled angry-birds app for smart TV

New Mac operating system goes on sale

NEW YORK: Apple Inc. will release its new operating system for Mac computers yesterday, with features borrowed from mobile devices and a tighter integration with online file storage. Dubbed Mountain Lion, the new software narrows the gap between the PC and phone software packages, making Mac personal computers work more like iPhones and iPads.

It’s similar to what Microsoft Corp. is doing with its forthcoming Windows 8 system. That system, to be released Oct 26, will bring the look and user interface of Windows Phone to PCs. Mountain Lion will cost $20 and will be sold only as a download. Only computers running the two most recent versions of Mac OS, Lion and Snow Leopard, can be upgraded.Read More »New Mac operating system goes on sale

PTCL introduces revised ‘3G EVO Unlimited’ packages

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has introduced revised packages for its ‘3G EVO Wireless Broadband’, the country’s most popular Broadband Wireless Internet service.

The popular EVO Truly Unlimited, EVO Postpaid, EVO Max and EVO Wi-Fi Cloud shall now be available with an addition of Rs 100 service charges at Rs 2,100. The new charges are applicable from August 1, 2012.Read More »PTCL introduces revised ‘3G EVO Unlimited’ packages


PROFESSOR ALI SUKHANVER According to media reports, the new ISI chief, General Zaheer-ul-Islam would be there in Washingtonon 2nd of this August to hold talks with CIA Director David Petraeus on counter-terror cooperation and intelligence… Read More »THE DRONES IN REWARD

LONDON: UK businessmen want removal of Pak students from immigration stats

Top British businessmen have urged British Prime Minister David Cameron to remove Pakistani students from official immigration figures to avoid choking off a valuable source of wealth and skills.

The businessmen warned that visa restrictions designed to bring net immigration below 100,000 a year would deter wealthy foreigners from outside the European Union.Read More »LONDON: UK businessmen want removal of Pak students from immigration stats

Google declares war on illicit networks


THOUSAND OAKS: Google chief Eric Schmidt declared war on international criminals Tuesday, vowing to harness technology to battle “illicit networks” around the world.

At a two-day summit including Interpol, government ministers and victims of forced labor and child slavery, Schmidt said the Internet can help fight traffickers of drugs, sex workers and organs.

International police body Interpol used the conference to unveil a pioneering initiative to crack down on trade in fake goods, using an app developed with the help of search giant Google.Read More »Google declares war on illicit networks