This refers to the news item on social media regarding the 2 hours cooling period for digital fund transfers. In this regard, it is clarified that all digital fund transfers are made on real time basis and the beneficiaries receive funds in their accounts almost instantly. The 2-hours cooling period is applicable only on the […]
digital
Digital Disconnect
There was a time when internet outages were treated as passing irritants. Today, the stakes are far higher. In a country where over 2.3 million freelancers rely on stable connectivity, where IT exports are touted as the growth engine, and where schoolchildren log on to learn, the internet has become the nervous system of daily […]
Robust growth of digital transactions continues in Q3 FY21: SBP
The State Bank of Pakistan, Monday, released its Quarterly Payment System Review (QPSR) for the third quarter of fiscal year 2020-21, which showed that the value of mobile banking, internet banking and e-commerce transactions, all, more than doubled. The QSPR for January-March 2021 depicts strong growth in the space of digital financial transactions in the […]
US suspends tariffs on UK, India, EU nations in digital tax dispute: USTR
The US government announced Wednesday it is suspending for six months any punitive tariffs on Britain, India and four European nations while it works to resolve a dispute over digital services taxes. “The United States is focused on finding a multilateral solution to a range of key issues related to international taxation, including our concerns […]
G20 agrees to push ahead with digital tax
Group of 20 finance ministers agreed on Saturday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc’s draft communique obtained by Reuters showed. Facebook, Google, Amazon, and other large technology firms face criticism for cutting their tax bills by […]