Latest news with #Virk
Business Recorder
3 days ago
- Business
- Business Recorder
FBR document submission process highlighted
LAHORE: In a recent awareness lecture on withholding tax at the Lahore Tax Bar, Member Inland Revenue Muhammad Mohsin Virk shed light on the process of filing and pursuing cases before the Appellate Tribunal. Virk emphasized the importance of following proper procedures when submitting documents to the Federal Board of Revenue (FBR). According to Virk, when documents go missing and cases are decided against taxpayers, they often argue for case restoration, claiming that the documents were submitted to the FBR. However, they fail to provide proof of submission in the form of a receipt. He clarified that the only way to ensure proof of document submission is by getting the documents recorded in the FBR's record. He stated, 'If documents are submitted without proper recording, it becomes the taxpayer's responsibility to prove submission.' He stressed that once documents are properly recorded, it becomes the department's responsibility to safely keep them. Copyright Business Recorder, 2025
Express Tribune
14-05-2025
- Business
- Express Tribune
Govt urged to review tobacco taxes
Listen to article Experts have cautioned that the government's current tobacco taxation policy, if left unchanged in the upcoming 202526 federal budget, could jeopardize Pakistan's revenue targets. They emphasized the importance of basing fiscal decisions on real-world economic conditions, rather than solely relying on data and recommendations from health advocacy groups, both local and international. To ensure a balanced and effective budget, they urged policymakers to consider the broader economic impact of tax policies, particularly those affecting high-revenue sectors like tobacco, before finalising critical decisions. According to official data, Pakistan has the potential to generate more than Rs600 billion annually from the tobacco sector. Yet this year, only less than Rs300 billion is expected to be recovered. The remaining staggering amount of over Rs300 billion, equalling more than the combined federal budgets for education and health is lost to the illicit cigarette trade. The two major multinational companies, holding 44% of the cigarette market, paid Rs292 billion in taxes during the 2023-24 fiscal year. In stark contrast, over 40 domestic manufacturers, controlling 56% of the market, contributed just Rs5 billion. "The illegal sector now controls more than half the market and pays virtually nothing in taxes. What more evidence do we need?" Fair Trade in Tobacco Chairman Amin Virk questioned as he emphasised the importance of balance. "Yes, taxation has a role in public health, but you cannot ignore the economic consequences in developing countries like ours. When half the market goes underground, you lose the revenue and the ability to enforce health regulations." According to a recent report by the Policy Research Institute of Market Economy (PRIME), illegal trade costs Pakistan Rs3.4 trillion annually, equivalent to 26% of the federal tax target. This includes Rs1 trillion lost via misuse of the Afghan Transit Trade, Rs270 billion from smuggled petroleum, Rs65 billion from counterfeit pharmaceuticals, and Rs106 billion from illegally imported tires. Despite recent enforcement efforts and industry engagement, Pakistan's tax system remains structurally weak, with over 40% of the economy still operating informally and a narrow base of compliant taxpayers. Virk urged the government to act swiftly to ensure and enforce fair taxes in tobacco sector.
India Gazette
12-05-2025
- Politics
- India Gazette
"A bullet for a bullet is real response": Former Punjab DGP Virk backs Centre's retaliation against Pakistan
Chandigarh (Punjab) [India], May 12 (ANI): Former Punjab Director General of Police SS Virk on Monday praised the Centre's decision to launch Operation Sindoor against Pakistan in the aftermath opf Pahalgam terror attack, calling it 'absolutely appropriate.' Virk said that the operation sent a strong message to Pakistan that disrupting peace and development in Kashmir would not be tolerated. Virk told ANI, 'In my opinion, the decision taken by the Government of India to carry out the attack was appropriate. They have sent a clear message to Pakistan that what you orchestrated through your proxies on April 22 was a very wrong step.' He praised the central government for tit-for-tat approach, responding to Pakistan's provocations with equal or greater force. 'A bullet for a bullet, this is the real response. These terrorist elements can only be controlled when they realise that they will be hit hard, and without mercy.' He noted that Kashmir was experiencing economic growth and development, which Pakistan sought to disrupt. 'You attacked our innocent and unarmed people. You disturbed the process of peace and development in Kashmir. You killed 26 innocent people there,' added Virk. India's 'Operation Sindoor', launched on May 7 in retaliation for the April 22 Pahalgam terror attack, has marked a significant milestone in the country's fight against terrorism, achieving multiple strategic objectives while sending a global message of resolve, as per sources. Virk said the Indian retaliation at 'multiple places, at 9 or 10 different locations, at air bases and terrorist camps, has caused even more damage to them.' He questioned the presence of Pakistani military and police's decision offering funeral prayers for the LeT terrorists killed in Operation Sindoor. He added, 'If you had no hand, then why are the clips of the terrorists that are emerging showing officers standing beside them, praying and performing funeral prayers? Why are they being given cover there?' Notably, Pakistan's government has consistently denied supporting terrorist groups like LeT, yet high-ranking military and police officials participated in funeral prayers for the terrorists. Virk even drew parallels to the 2008 Mumbai attacks. 'Just like in 2008, during the Mumbai attacks, Pakistan denied any involvement. But once Kasab was caught alive, the entire conspiracy was exposed.' He added, 'If you recall, Pakistan always tries to present itself as innocent, as if it's completely clean. But where was Osama bin Laden, the world's most notorious terrorist, caught? He was living in Pakistan.' Virk said that even today, operatives of international terrorist organisations are 'hiding in Pakistan.' He said that the peace process in Kashmir, including employment for locals and increased tourism, had been disrupted. 'Those military officers in Kashmir, where a process of peace and prosperity had begun, Pakistan couldn't tolerate that. There are many such forces they have readied who carried out this act just to disturb that progress, and it delivered a huge blow to Kashmir's peace and development,' he said. He supported India's retaliation, saying, 'India has given a very appropriate response, that we will not tolerate such audacity. If you harm our innocent people, then as the Prime Minister said, 'We will destroy you, wipe you out.' (ANI)
Hans India
29-04-2025
- Business
- Hans India
Microsoft Rolls Out Recall and AI Features for Copilot+ PCs
After months of privacy review and analyst feedback, Microsoft on Friday activated Recall, the headline capability of its Copilot+ PCs initiative, along with AI-driven search enhancements and click-to-do tools for compatible Windows 11 devices. Microsoft corporate vice president Navjot Virk outlined the rollout in a company blog post, noting that Copilot+ PCs first appeared in May 2024 and that the new AI features are now broadly available. 'Windows has always been the place where computing innovation happens first,' Virk wrote. 'This continues today with the general availability of exclusive AI experiences like Recall (preview), Click To Do (preview) and improved Windows Search across Copilot+ PCs.' Recall, delivered as an opt-in preview, captures periodic screen snapshots to help users trace prior on-screen activity. Click-to-do, also in preview, offers AI-assisted text actions including summary, grammar correction, rewriting and simple image edits. The search update introduces context-aware results, aimed at making file discovery more efficient on Windows 11 machines. All Copilot+ PC models powered by Snapdragon, Intel or AMD chips can access the new AI functions; however, the text-action element of click-to-do remains limited to Snapdragon-based systems. European users will gain access later this year, Microsoft said. Copilot+ PCs debuted last May at a starting price of $999. As of January 2025, they accounted for about 15 percent of all premium Windows 11 PCs sold, with current prices starting at $599. The product lineup spans processor families from Qualcomm, Intel and AMD. Microsoft highlights performance gains over competitor hardware: Copilot+ devices run 13 percent faster than the MacBook Air M4 and deliver up to five times the throughput of a five-year-old Windows PC. Battery tests show as much as 22 hours of video playback or 15 hours of web browsing on a single charge. Owners of Copilot+ PCs can obtain the April 2025 non-security preview update for Windows 11 to enable Recall and click-to-do features. The update also includes the search improvements. Corporate customers and individual users enrolled in the Windows Insider program can download the build today; general consumer release is expected in the coming weeks. Recall requires explicit consent and stores snapshots locally. Microsoft says users can disable or remove it at any time. Click-to-do leverages on-device AI models to process text and images without sending data to the cloud. The enhanced search engine uses indexing and natural-language processing to surface relevant documents, emails and settings. By integrating these AI components, Microsoft aims to align Windows 11 PCs with current workflows, letting users revisit past tasks, generate and refine text, and locate files more quickly. The company plans further AI updates for Copilot+ PCs in future Windows 11 releases.
Express Tribune
08-04-2025
- Sport
- Express Tribune
Islamabad Police finalise security for PSL-10 teams ahead of opening match
Listen to article Islamabad Police have completed their security arrangements for teams participating in HBL Pakistan Super League (PSL) X. The measures were finalised following an inspection of key duty points and team accommodations by SSP Security, Muhammad Sarfaraz Virk. Virk, acting on the orders of IG Islamabad Police Ali Nasir Rizvi, emphasised the use of advanced technology to ensure the safety of the players and smooth conduct of matches in Rawalpindi. The opening match of the season will take place at Rawalpindi Cricket Stadium on Friday, featuring Islamabad United against Lahore Qalandars, starting at 8:30 PM. The police have committed to deploying all available resources to guarantee foolproof security during the tournament. Match officials for PSL The Pakistan Cricket Board (PCB) on Monday named 13 umpires and seven match referees to officiate the opening 30 matches of the 10th edition of the HBL Pakistan Super League (PSL), which begins on April 11. The officiating panel for PSL 10 includes three members of the ICC Elite Panel of Umpires—Ahsan Raza, Paul Reiffel, and Kumar Dharmasena. They are joined by Aleem Dar, Asif Yaqoob, Faisal Khan Aafreedi, and Rashid Riaz Waqar from the PCB International Panel of Umpires. Four umpires from the PCB Elite Panel—Abdul Moqeet, Nasir Hussain, Tariq Rasheed, and Zulfiqar Jan—complete the list. The PCB has also announced a seven-member match referees' panel led by ICC Elite Panel referee Ranjan Madugalle and fellow Sri Lankan Roshan Mahanama. They will work alongside Ali Naqvi, Muhammad Javed Malik, Iftikhar Ahmed, Iqbal Sheikh, and Nadeem Arshad. Officials for the final four matches—the Qualifier, two Eliminators, and the final—will be named later. The tournament opener on April 11 will see defending champions Islamabad United take on Lahore Qalandars at Rawalpindi Cricket Stadium. The six-team event includes 34 matches played across Rawalpindi, Lahore, Karachi, and Multan until the final on May 18. Lahore's Gaddafi Stadium will host 13 matches, including both Eliminators and the final. Rawalpindi will stage 11 games, including the Qualifier on May 13. Karachi and Multan will host five matches each. Three double-headers are planned during the competition—two on Saturdays and one on Labour Day, May 1.
