Together with the IRS and Delaware’s Department of Labor Unemployment Insurance Division, the Division of Revenue has announced a COVID–19 Relief Discussion this coming Friday, May 22, 2020, at 11:30 a.m. Eastern Standard Time (EST). This free 60-minute conference will be open to the public. Delaware’s Director of Revenue Jennifer Hudson, and Director of Unemployment […]

The Delaware Division of Revenue is warning the public of a new tax scam that’s happening in Delaware. Victims receive a letter from the “Tax Processing Unit” that threatens property seizure and wage garnishment unless the victim calls a toll-free number to “avoid enforcement.”

[Capital FM] Nairobi -- The Politics surrounding the control of the Sh10.5 billion Road Maintenance Levy Fund between MPs and Governors has continued to stall talks to iron out the stalemate over the equitable revenue share to the devolved units.

Nazir SiyalKARACHI: Sindh Government have posted Mr. Mehboob Ali Siyal, as Secretary (Revenue), Board of Revenue Sindh, against an existing vacancy here yesterday. Mr. Mehboob Ali Siyal will take charge as Secretary Revenue on Wednesday. A vibrant Officer of Sindh … read more

• Holds introductory meeting with finance minister
• Govt pledges to end gas supply to captive power plants by Jan
• Lender’s team to hold joint session with power and petroleum divisions today

ISLAMABAD: The International Monetary Fund (IMF) has sought a detailed, output-based update on Pakistan’s digitalisation plans for its revenue system, including the use of artificial intelligence to expand the tax base and increase collections.

On the energy side, the country has pledged to halt gas supply to captive power plants (CPPs) by January 2025, redirecting them to the national grid despite a strong pushback from influential rent-seeking industrialists. The IMF has firmly rejected any amendments to this programme benchmark.

The visiting IMF team, led by Pakistan’s mission chief Nathan Porter, held an introductory meeting on Tuesday with Finance Minister Muhammad Aurangzeb. Minister of State for Revenue Ali Pervez Malik, State Bank Governor Jameel Ahmad and Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial were also present.

The mission is also holding separate technical sessions with all the stakeholders, including the FBR, power and petroleum divisions and the energy sector regulatory authorities. In all these engagements, the mission appeared to have not expressed its mind so far, except from raising exploratory questions, participants told Dawn.

It is not yet clear if the dialogue would lead to policy-level discussions that had been a critical part of IMF programmes’ quarterly reviews.

The current $7 billion Extended Fund Facility (EFF), however, has been designed in a manner that the IMF and Pakistan authorities should hold biannual review meetings for the disbursement of about $1bn instalments during each cycle.

The first formal review has to take place based on the end-December performance for Pakistan to qualify for disbursement for a second instalment of over $1bn by March 15, 2025.

Officials said the IMF mission has called for detailed explanations on the digitalisation of FBR’s processes for revenue collection, application of artificial intelligence for identifying and tracing tax evaders and their taxable incomes and businesses and involvement of specialised expert firms. They have also sought a complete update on the track-and-trace system.

In initial meetings, the FBR attributed recent revenue shortfalls — particularly in the first month of the second quarter — to the declining inflation.

The power sector’s performance appears to be within agreed limits concerning circular debt and current revenues.

Circular debt rose by about Rs70bn, below earlier estimates of Rs240-250bn. A circular debt management plan was approved only last week by the Economic Coordination Committee (ECC), led by the finance minister.

Sources said the government had been going back and forth over the disconnection of gas supply to inefficient captive power plants, belonging mostly to the textile sector, to utilise surplus capacity in the national power grid.

The industrialists have, however, now mustered support from gas companies. Some stakeholders are now pushing for the supply of imported LNG to CPPs at a weighted average cost of local and imported molecules on the premise that electricity connections were not available or were insufficient in certain areas.

The IMF mission is scheduled to have a joint session with the power and petroleum divisions on Wednesday (today) to discuss their interrelated issues, including circular debt, planned tariff adjustments, loss reduction programmes and recoveries.

Published in Dawn, November 13th, 2024

Kaseya, a provider of unified IT management and security software for managed service providers (MSPs) and small to midsize business (SMBs), today released its 2024 MSP Benchmark Report, which surveyed close to 1,000 MSPs from the Americas, EMEA (Europe, Middle East and Africa) and APAC (Asia Pacific) regions and includes responses from both IT professionals […]

Company expects to be cash flow positive in the next two quarters.

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The Hon'ble Delhi High Court in the case of JV Creatives (P.) Ltd. v. Principal Additional Director General, DGGI, Gurugram Zonal Unit [W.P. (C) No. 10042 of 2024 dated July 23, 2024] dismissed the writ petition filed against the order of provisional attachment passed under Section 83 of the Central

As per sources within the Finance Ministry, the Centre is likely to maintain its original budgeted estimate of ₹22.07 lakh crore for direct tax collection when it revises estimates in February. ...

The electric vehicle giant saw its revenues jump 24% as government subsidies boost China's car industry.

Appart’City, France’s leading aparthotel operator, has partnered with IDeaS, a SAS company and world’s leading provider of hospitality revenue management software and services, to optimise revenue management decisions and automate related processes across its portfolio of 90 properties.

X’s revenue in India plummeted 89.8% to $2.51 million in the financial year ending March, according to regulatory filings from the Elon Musk-owned social network. The company, which had posted revenue of $24.7 million in the previous fiscal year, also significantly reduced its expenses in India to $2.2 million from $20 million year-over-year, the filing […]

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While the likes of Pipe are reaching multi-billion valuations, European revenue-based financing is experiencing as much of a boom as it is in the U.S. U.K.-based startup platform Bloom has now secured a £300 million / $377 million financing round led by Credo Capital and Fortress Investment Group LLC (NYSE:FIG), making it one of the […]

© 2024 TechCrunch. All rights reserved. For personal use only.

The PwC network reported total global gross revenues of US$35.4 billion for the fiscal year ended on 30 June 2015.

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Some measures include increasing property tax and power tariffs and privatising state public sector enterprises

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Zebra Technologies has expanded its India presence this year, particularly in sales and support functions to serve the growing demand

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The ShareFile business the company is acquiring generates approximately $240 million in revenue

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The textile and garment makers have come out with a request to the government to withdraw its decision not to hold the Onam celebrations fearing loss of revenue to the entire trading fraternity

Special campaigns conducted by the government from 2021-24 have generated a revenue of ₹2,364 crore through disposal of scrap, says Personnel Ministry in an official statement

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Adani Ports said in a statement it was well positioned to hit the upper end of the FY25 EBITDA guidance range of ₹17,000-18,000 crore

These initiatives come amid increased capacity and intensified competition in the Indian skies

From a pipeline perspective, the company crossed a total contract value of $7.6 billion this quarter

Most of their revenue comes from the Centre and the States as grants

Revenue Department Special Chief Secretary directs the Inquiring Authority to submit the inquiry report within a period of six weeks

Crosses over 100 million Monthly Transacting Users milestone

The group plans to introduce one-of-its-kind luxury projects with modern ecosystem for the discerning professionals who prefer Thane over Mumbai

“Shriram Properties will embrace the new era under the banner SPLNxT to reposition the brand; enhance focus on mid-market and mid-premium segments, and accelerate growth”

A revised version of the bill was tabled by bipartisan senators in the United States on Wednesday that strengthens the stance for digital news publishers to negotiate with Big Tech companies for sharing revenues that entail the use of their content.

The gross market borrowing of ₹6.61 lakh crore shall be completed through 21 weekly auctions.

Gross revenues rose 6.5%, while net receipts were 3.9% higher than last September; seven States record a contraction while revenues were flat in Gujarat

The company currently partners with 500 commercial players and plans to collaborate with both private and public educational providers

The company’s consolidated loss stood at 1,131.3 crore in FY24, up from ₹ 84.1 crore recorded in the earlier fiscal period.

Festive season GST receipts hold a critical signal for growth

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