CDC facilitation for tax amnesty scheme

KARACHI: Central Depository Company of Pakistan Ltd (CDC) will facilitate Transfer of Book Entry Securities in the Central Depository System against declaration of assets under the tax amnesty scheme, a press release issued on Thursday said.

“In this regard, CDC, with the prior approval of Securities and Exchange Commission of Pakistan, has issued necessary circular detailing the requirements and procedures of such securities’ transfers,” the release added.

Shaheen Air tax issue resolved

KARACHI: The tax issue between Shaheen Air International (SAI) and the Federal Board of Revenue (FBR) was resolved after a detailed discussion between the two organisations, Zohaib Hassan, Director Marketing, SAI informed the media after the meeting on Thursday.

“The current fiscal year is coming to an end due to which there was pressure on us to get the tax dues cleared. The payment was delayed one and a half months and initially we tried to submit our cheques to clear the payments but somehow FBR was reluctant to accept the offer. “But after detailed negotiations, the FBR has accepted Shaheen’s request. This matter was prolonged due to Eid holidays. We would like to reiterate that Shaheen Air International is a law abiding corporate entity and is aware of our duties and responsibilities. Our regular operations are on and flight schedule is as per normal,” Zohaib said.

Linde, Praxair offer concessions in merger bid

BRUSSELS: German industrial gases company Linde and US peer Praxair have offered concessions in a bid to address EU antitrust concerns and secure approval for their merger.

The companies submitted their offer on June 20, according to a filing on the European Commission website on Thursday. The EU competition enforcer extended its deadline for a decision to Aug 24, without providing details of the concessions.

Sources say the companies plan to divest assets in Europe and the United States where the deal is also under regulatory scrutiny. Taiyo Nippon Sanso Corp and private equity firm Carlyle Group are the frontrunners to buy assets, sources told Reuters earlier this week. Securing a potential buyer could help allay regulatory worries.

Published in Dawn, June 22nd, 2018