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WORLD TAXES
US and Turkey agree to end digital services tax

US and Turkey agree to end digital services tax

The United States and Turkey have agreed to terms for withdrawal of Turkey’s digital services tax that largely targeted highly profitable U.S. technology giants and will transition to a new global taxation agreement in 2023,…

UPDATES
Deadline for Digital Mode of Payments Proposed to further extend

Deadline for Digital Mode of Payments Proposed to further extend

Federal Board of Revenue (FBR) is examining a proposal to further extend time period beyond November 1, 2021 for the corporate sector to shift over to the digital mode of payments. FBR can extend the…

MARKETS
State Bank releases Annual Payment Systems Review for Financial Year 20-21

State Bank releases Annual Payment Systems Review for Financial Year 20-21

State Bank of Pakistan (SBP) releases Annual Payment Systems Review for Financial Year 2020-2021 showing significant growth in the space of digital financial transactions in the country. Mobile banking volume up by 134% & value…

FINANCE
State Bank is all set to introduce full fledged digital banking

State Bank is all set to introduce full fledged digital banking

The State Bank of Pakistan (SBP) is all set to introduce full-fledged digital banking in a month to allow people performing financial transactions without physically visiting banks and to accelerate the financial inclusion drive, said…

FINANCE
State Bank of Pakistan Signed MoU to bring digitization in federal government payments

State Bank of Pakistan Signed MoU to bring digitization in federal government payments

The State Bank of Pakistan (SBP) on Monday signed MoU with the Controller General of Accounts Pakistan (CGAP) to bring digitization in federal government payments. Through the Pakistan’s first instant payment system of Raast launched…

WORLD TAXES
Digital Tax Increased Ad Rates by Google

Digital Tax Increased Ad Rates by Google

Google has told users it will increase advertising rates on its French and Spanish platforms by 2% from May to help eliminate the effects of the digital tax on profits. France has collected taxes from…