ARC is slated to roll out a new tool in mid-July that automates the management of the now-mostly manual debit- and credit-memo process. Some 1,000 agencies, including Expedia, and about two dozens ...

The Federal Board of Revenue (FBR) has introduced the concept of 'credit and debit notes' in the federal excise regime on the pattern of sales tax to facilitate both the suppliers and the buyers in ...

Thanks to widespread use of its Memo Manager application, ARC is for the first time able to tally the number and dollar amount of the debit memos airlines send to travel agencies for ticket pricing ...

A debit note is a document used to provide a secondary notice to buyers. The goal is to call attention to the debt and remind the customer to make a payment. A debit note, also known as a debit memo, ...

KARACHI: The FBR portal ‘IRIS’ has stopped incorporating credit notes during the process of filing of sales tax returns for the tax period of May 2023, raising concerns among taxpayers. The issue was ...