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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

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

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

By AFP

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

Islamabad: Land mafia hinders inquiry of plot allotment in Sector I-14

Land mafia has been putting hindrance in the inquiry of fraudulent allotment of 20 plots in Sector I-14 of the federal capital.

 Capital Development Authority (CDA) sources said that the scandal was surfaced in April 2012 and affectees of Sector E-12 were allotted plots through fraud in Sector I-14 while CDA Board in 2009 had banned plot allotment to affectees of Sector E-12 unless they give the possession of land. Sources said that 18 out of the 20 affectees are from Sector E-12 while two are not from the said sector.Read More »Islamabad: Land mafia hinders inquiry of plot allotment in Sector I-14

Islamabad: Balloting of Park Enclave Housing Project held

 The Capital Development Authority (CDA) on Tuesday held the balloting of residential plots of the Park Enclave Housing Project. CDA Chairman Engineer Farkhand Iqbal conducted the balloting by punching the key of a computer at CDA Headquarters. A large number of allottees were present on the occasion.

As many as 613 residential plots were allotted through the computerised balloting. The CDA chairman, while addressing the ceremony, said that development work in the scheme would be completed as per commitment.
Read More »Islamabad: Balloting of Park Enclave Housing Project held

UK to interview Pakistan students seeking visa

* Study shows 48 percent non-credible applicants granted visa in Pakistan

By Asif Mehmood (Daily Times)

LONDON: Getting a UK visa is going to become an up-hill task for Pakistani students, as they would have to go through assessment interviews in the future, Daily Times has learnt. The decision was taken after a British Home Office study found out that 48 percent of those granted visas in Pakistan were not credible applicants.Read More »UK to interview Pakistan students seeking visa