Tuesday, 5 December 2023
Trending
How to Check and Verify Vehicle Ownership | Car Registration Online Check 8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 1500 Prize Bond Draw List 15 August 2022 Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online 750 Prize Bond List 2022 | Prize Bond Schedule 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC Prize Bond 750 list 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 Withdrawals of Tax Exemptions and Tax Credits in Finance Act 2021 KTBA urges FBR to issue directions to banks to stop withholding tax deduction on IT exports FBR decides to deny tax refund claims to retailers resisting integration with tax system Islamabad High Court reserves decision on track & trace system case Deadline and penalty for Tier-1 retailers and other tax provisions relating there to Pakistan starts export of smartphones FBR amends Section 122 of IT Ordinance regarding time limit for proceedings FBR issues Manual Income Tax Return Forms for Individual and AOPs for Tax Year 2021 Agriculture Income Tax Rate in Punjab Pakistan 2020-2021 FBR to deny 60 % Input Tax to Non-Integrated Tier-1 Retailers Shaukat Tarin Profile Zong tax certificate 2021 | Zong e-care tax deduction certificate New Penalty Provisions relating to non-integrated Tier-1 Retailers Procedure to get extension in Date for filing annual Income Tax Returns State Bank Imposes 100% Cash Margin on Import of More Items FBR unearths massive tax evasion No of tax filers for tax year 2021 at deadline FBR will notify revised rates of immovable property by November IMF demands closure of Bank Accounts of public sector entities Single Sales Tax Portal a Step Away 500,000 Retailers Targeted by FBR to Boost Revenue FBR Develops Automated System in WeBOC to facilitate SME Businesses FBR revised minimum prices of steel as international prices rises FBR to penalize tax officials putting external pressures on FBR management Pakistan Citizen Portal | How to use Pakistan Citizen Portal? International Oil Prices declined 10$ a barrel, Govt hints at reducing petroleum prices Weboc FBR suspends implementation of new property valuations rates till January 16 Govt to impose 17% GST on 140 goods in the mini budget Apple IPhone XR PTA and Import TAX in Pakistan and Non PTA Price in Pakistan Apple Iphone 6 PTA and Import TAX in Pakistan | Price In Pakistan Notice issued by FIA to popular cryptocurrency exchange Binance State Bank reports complete ban on cryptocurrency and related activities in Pakistan New Taxes on Cars FBR’s Revised Valuation Rates of Immovable Properties suspended again State Bank to Issue New Licenses to 5 New Digital Banks FBR increased regulatory duty on import of luxury vehicles from January 27, 2022 FBR Rebuts News Story of “Biggest tax scam surfaces in FBR” Tarin Directs FBR to Settle Sales Tax Refunds of Pharmaceuticals Industry Industrialists voiced concerns over the Problems in Single Sales tax returns FBR Property Valuation Rates 2022 Karachi, Lahore, Islamabad, Peshawar, Quetta
cryptocurrency is not illegal said by sindh high court ;
FINANCE

State bank never declared cryptocurrency illegal: SHC

By

On Thursday, the Sindh High Court expressed frustration with the Federal Ministry of Finance. For not explaining its comments on the cryptocurrency petition. While the State Bank of Pakistan said it had never declared it illegal.

A two-judge bench headed by Justice Muhammad Karim Khan Agha. He had sought the opinion of the SBP till January 13. On whether there was any law in place to curb cryptocurrency trading in Pakistan ?

It also warned that if comments were not filed by the ministry through the deputy additional attorney until the next hearing, the finance secretary would have to appear in person for clarification. The bench directed FIA Cyber ​​Crime Deputy Director Abdul Ghaffar to issue a show cause notice on his absence. Attend the next hearing with a reply and explain how the FIA ​​came to file a lawsuit against the petitioner.

See also  Govt called for the National Assembly session on June 11 to present the budget

When the bench heard a circular in April 2018 challenging a circular issued by the SBP to allegedly stop the use of virtual currencies. It expressed frustration with the Finance Ministry and the FIA ​​for not commenting. Expressed because at the last hearing the bench had allowed him the opportunity to submit answers.

If you want to become active tax filer or want to get tax, accounting and corporate services in Pakistan then we are here to provide you professional services! Call: 0092-3334875413 | www.globaltaxconsultants.pk

SBP Joint Director Rehan Masood informed the bench that he had never declared cryptocurrency illegal.

The bench directed him to appear at the next hearing and record his statement. As to whether there is any law, rule or regulation which prohibits cryptocurrency business in Pakistan.

What is Cryptocurrency? A Simple Explanation - YouTube
What is cryptocurrency ?

The bench restrained the FIA ​​from harassing the petitioner. Waqar Zaka said to SHC on April 6, 2018, the Governor of SBP had issued a circular stating that all banks and payment system operators should avoid to implement virtual currency trade, transfer and investment.

He also demanded that the FIA ​​ban the arrest of those who owned virtual assets or crypto mining machines and agreed to pay taxes.

SOURCE

tax-accounting-services-top-tax-consultants-lahore-pakistan
Ads:

LATEST POSTS

See also  Pakistan made progress on all 27 points in FATF Action Plan

PREVIOUS POSTS

NEWS FEEDS – www.TaxUrdu.com

CATEGORIES

See also  State Bank releases Annual Payment Systems Review for Financial Year 20-21
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: