Latest news with #Kayani
Business Recorder
2 days ago
- Business
- Business Recorder
‘Trade talks with US will be breakthrough in potential FTA'
State Minister for Finance Bilal Azhar Kayani has said the ongoing trade talks with the United States will be a breakthrough in a potential Free Trade Agreement, which will be a game changer for Pakistan's economy. Talking to a private news channel, he also welcomed US acknowledgment of Pakistan's counter terrorism efforts and regional role, Radio Pakistan reported. Kayani said Pakistan is actively strengthening its diplomatic and economic relations with the US, China, Russia, and Gulf countries on an equal footing.
Business Recorder
5 days ago
- Business
- Business Recorder
Definition of ‘Tax fraud' & procedure for ‘arrest': There will be no amendment in Act: MoS
ISLAMABAD: Minister of State for Finance, Bilal Azhar Kayani Thursday said the government will not amend Finance Act 2025 to further change definition of tax fraud or procedure for arrest, but the Federal Board of Revenue (FBR) will issue sales tax explanatory circular to address all concerns of the business community. Kayani informed Senate Standing Committee on Finance on Thursday that the prime minister has strictly directed the FBR not to harass the taxpayers, particularly, business and trade. After detailed meetings with the federation and chambers, the government has started internal homework to resolve these issues. 'I will not share specific details as we are in IMF programme. However, all concerns of the business community will be addressed', he said. We have given assurance to the business community that it is our responsibility that the law should not be misused by the tax officials. There is a misunderstanding that law of arrest of tax evaders is a new law, he maintained. Finance Act expands definition of tax fraud Presidents of chambers of commerce and industries are well aware of the developments. A committee has also been formed to resolve issues in 30 days' period, he said. President Karachi Chamber of Commerce and Industry (KCCI) Muhammad Jawed Bilwani requested the committee to abolish clause 9 of the Section 37A (power to inquire, investigate offences warranting prosecution under this Act and arrest of a person). The arrest of taxpayer on the basis of 'suspicion' has also been challenged by Bilwani. However, committee members insisted that ample safeguards have been placed to check any misuse of the powers of the tax officials. In case of 'suspicion', there should be definite information of tax fraud for arresting the accused person, they said. Minister of State for Finance stated that there is some kind of misunderstanding between the FBR and business community. The government has placed additional safeguards in Finance Act 2025 to ensure that arrest powers should not be misused. Earlier, arrests were made by officials of the level of Additional Commissioners and now a committee comprising of senior FBR Members will give approval of the arrests. Bilal Azhar Kayani stated that it has also been decided to convene monthly meeting with the business community to review impact of the law on the businessmen. FBR Member (Inland Revenue - Operations) Dr Hamid Ateeq Sarwar said that Finance Act 2025 should not be amended at this early stage of promulgation. We should not create any embarrassment for the Parliament and it would not be appropriate to suddenly change the sales tax law after promulgation of the Finance Act 2025. He said that the purpose of the law is to take action against those involved in fraudulent business of fake/flying invoices. In 2024-25, the FBR prevented revenue loss of Rs837 billion on account of fake invoices. In 2023-24, tax fraud of Rs1,373 billion was prevented. The FBR Member said that the FBR has addressed all concerns of the business community through a sales tax circular. The FBR will clarify that arrest would not be made without clear evidence against the taxpayer. This issue will also be clarified through the circular. The FBR has also consisted Grievance Redressal Committee to address issues of the business community. If any tax officer has made a wrong case against the taxpayer, he would be punished. He dispelled impression that the FBR do not take action against the corrupt tax officials. 'You just simply go through the FBR website (Admin Wing-HRMS), the numbers of tax officials penalized has been made public.' The FBR Member said that both the Senate and National Assembly Standing Committees on Finance read clause by clause the entire Finance Bill and also proposed comprehensive changes in the sales tax law. Due to limited time, there were apprehensions that the anomy committee has not serious considered the issues of stakeholders. The business community has not been targeted in any way through Finance Act 2025. The responsibility to prove tax fraud has now been placed on the FBR, he said. Let the law come into effect as significant improvement in the law has been made to facilitate the business community, the FBR Member added. Chairman of the Finance committee said that the government has no intention to victimise business community. If the FBR's clarification is acceptable to business community then the law should remain in force for 2025-26. There is no need to amend Finance Act 2025 in case all issues are addressed by the FBR. Representative of the Faisalabad chamber of commerce and industry observed that we are not afraid of the law of arrest but we are concerned about the blackmailing by the tax officers in the field formations. Copyright Business Recorder, 2025
Express Tribune
11-07-2025
- Business
- Express Tribune
Businessmen slam punitive laws
Listen to article Pakistan's leading business chambers on Friday asked the government to immediately suspend the laws that authorise the arrest of taxpayers on allegations of fraud and penalise the use of cash for over Rs200,000 worth of business transactions or else they will begin an agitation campaign. The demands were made from the platform of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in the presence of Minister of State for Finance Bilal Azhar Kayani and members of the Federal Board of Revenue (FBR). Finance Minister Muhammad Aurangzeb did not attend the FPCCI meeting, where representatives of almost all the chambers and associations were present. The business community wants the immediate withdrawal of the FBR's authority to arrest people on allegations of fraud, powers to add back 50% of cash expenditure above Rs200,000 in income and depute taxmen in factories, said FPCCI President Atif Ikram Sheikh. Sheikh demanded that the FBR's discretion to determine input adjustment and the enforcement of electronic invoicing should also be suspended. The government has taken these measures to minimise the use of cash in the economy and to crack down on tax fraud. "A thief will be called a thief but we will ensure that the law is not wrongly applied," said Minister of State Bilal Kayani while responding to demands from the business community. He stressed that those powers could not be suspended until the law was amended by parliament. "We may not agree with everything that the business community has demanded but discussions will continue in the coming days," said Kayani while indicating the government's resolve to withstand the pressure from the traders and business leaders. The easiest thing was that the government should have left the arrest powers in the hands of assistant commissioners but it introduced safeguards in it, said the minister of state. He added that the explanatory memorandum on budget would be issued on coming Tuesday, which should address some of their concerns. The FPCCI president said that the business community wanted to resolve the issue through negotiations but other participants of the meeting threatened to go on strike from July 19 if those powers were not withdrawn. Kayani said that there were many businesses that did formal transactions but there were others that dealt in cash and those should not be rewarded. According to new Section 21S and Q of the Income Tax Ordinance, 50% of the expenditure claimed in respect of sales, where the taxpayer received payment exceeding Rs200,000 otherwise than through a banking channel or digital means against a single invoice containing one or more than one transactions of supply of goods or provisions of services will be treated as income. Section 21(q) states that 10% of the claimed expenditure attributable to purchases made from persons who are not National Tax Number (NTN) holders shall be disallowed. These steps are taken to discourage the use of cash in business transactions. "People are extremely angry and it is getting difficult for us to control them," warned FPCCI Patron-in-Chief SM Tanveer. He said that the economy was passing through a difficult phase for the past two years and the government had chosen to harass taxpayers in the middle of this. "We do not want a strike on July 19 but the message from the government is that the FBR is the new NAB," said Sohail Altaf, a leading business leader from Rawalpindi. He warned that if the agitation began, it would be difficult for the government to reverse the negative perception. Saqib Fayyaz Chohan, another business leader, said that if the FBR did not withdraw the arrest powers and continued the implementation of e-invoicing, it would be difficult for them to move along. FBR Member Operations Hamid Ateeq Sarwar explained that those powers were only meant to be used against the people involved in tax fraud through fake sales tax invoices. He said that the adding-back income clause would also not impact return filing for tax year 2025 and any such question would be asked next year. Pakistan Vanaspati Manufacturers Association Chairman Sheikh Omar Rehan said that the FBR had deputed its staff in ghee factories that paid taxes at the import stage, urging them to withdraw the officers immediately. Sardar Tahir Iqbal, a representative of the real estate sector, said that the Capital Development Authority (CDA) chairman violated the prime minister's instructions and increased transfer fee charges from Rs250 per yard to 3% of the property value. He said that this single increase denied the benefit of reduction in withholding tax rates for the buyers of properties. Ajmal Baloch, who claimed that he had support of 12.5 million traders, threatened to go on strike if the powers to arrest and add-back income were not withdrawn immediately.
CairoScene
07-07-2025
- Entertainment
- CairoScene
Bayou & Tawsen Link Up on Summer R&B Anthem ‘Kayani'
Egyptian-Saudi artist Bayou returns with 'Kayani', an R&B track featuring Tawsen. The single drops alongside a coastal video and kicks off Bayou's five-city summer tour. Jul 07, 2025 Fresh off the viral success of 'Ya Zeina', Bayou drops 'Kayani' , a breezy Arabic R&B single featuring rising Moroccan artist Tawsen. Produced by Jean Bleu (who has worked with Drake and Marwan Pablo) with additional touches by Grammy-winning producer Motif Alumni (Doja Cat, Don Toliver), 'Kayani' is tailored for summer: smooth, rhythmic, and flirtatiously light on its feet. Opening with the line 'ليلي ونهاري بتمشى لأخر افكاري' ('Day and night, I walk all the way to the edge of my thoughts'), Bayou leans into a melodic coolness that's quickly becoming his signature. Tawsen, known for his genre-blurring French-Arabic delivery, blends seamlessly into the track's sun-drenched tempo. Shot on Egypt's North Coast, the music video pulls inspiration from early-2000s reggaeton with sunlit scenes, loose choreography, and subtle surrealism. The release also marks the start of Bayou's summer tour, hitting Amsterdam, Berlin, London, Jeddah, and Riyadh between July 8th and the 18th.
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Express Tribune
14-04-2025
- Politics
- Express Tribune
Imran tells LHC facing political vendetta
Former prime minister Imran Khan told the Lahore High Court (LHC) that he was in the custody of the National Accountability Bureau (NAB) on May 9, 2023, when violent protests erupted across Pakistan, and claimed that his nomination in the rioting cases is part of a political vendetta. On Monday, a division bench of the LHC, comprising Justice Syed Shahbaz Ali Rizvi and Justice Tariq Saleem Sheikh, resumed hearing Imran bail applications in eight May 9 cases including the Corps Commander House attack case. The counsel for the PTI founder, Salman Safdar, told the bench that he had presented his argument at the last hearing of the case. In his petition, Imran stated that he was falsely accused that he and his party leaders hatched a conspiracy prior to May 9, 2023 to attack state institutions in the event of his arrest. He urged the court to grant him bail in all May 9 cases and order his release. The bench will resume hearing the case on April 17. Earlier, on November 27, 2024, an anti-terrorism court (ATC) dismissed all his bail applications. Meanwhile, an ATC in Islamabad on Monday reserved its order on bail applications of 86 PTI members who were booked in cases of vandalism after the party's November 26 protest. The ATC presided over by Judge Abual Hasnat Muhammad Zulqarnain held a hearing on the bail petitions filed by PTI workers, who were represented in court by Advocate Sardar Muhammad Masroof, Advocate Amna Ali, Zahid Bashir Dar, Ansar Kayani, Murtaza Turi, and Fatehullah Burki. Advocate Kayani argued that none of the accused were originally nominated in the case; they were identified later through an identification parade, which was conducted five months after the incident. He also pointed out that the identification procedure was conducted entirely in English. "Could the police officials speak English? Could the accused understand English?" he asked. The lawyer said no recovery was made from the accused. He lamented that when PTI workers are released in Rawalpindi after five- to six-month detention, they are implicated in cases in Islamabad. Kayani argued that statements given in police custody carry no legal weight and there is no specific role attributed to any accused, no recoveries, and no evidence. He requested the court to grant bail, noting that the court had already granted bail to some accused in related cases. Advocate Sardar Muhammad Masroof Khan stated that no accused was arrested from the scene by police; all were taken from their homes. The defense lawyer added that the bails previously granted by the court had also been upheld by the Islamabad High Court. He noted that recoveries mentioned in the FIRs had already occurred in Rawalpindi.
