Game payments to be shifted to local currency by Facebook

Facebook is moving the payment system on games from the existing credits format to local currencies. Developers are given the deadline till September 12, 2013 to shift the payment procedure according to the new method. Facebook has already begun looking into local currency payments for games and will launch the local currency API for developers soon.

Online gaming is one of the greatest sources of revenue for Facebook as it mentioned in its quarterly report and the social media is of the opinion that shifting payments to local currency method will ease out the process for end users in addition to providing a faster transaction process for the developers.

TIPA award LG’s True Color IPS Monitor as “Best Photo Monitor” of 2013

LG’s Monitor 27EA83 was given one of the highest awards of the imaging industry: “Best Photo Monitor” of 2013 by the Technical Image Press Association (TIPA). The monitor features features In-Plane Switching (IPS) display technology combined with a high resolution and a wide color palette which makes it perfect for filmmakers, photographers and graphics professionals.

Il-geun Kwon, senior vice president of LG Electronics’ IT Business Unit said that the company was highly honored at receiving recognition by TIPA and it reaffirms the qualities provided by LG in its products.

The LG ColorPrime boasts WQHD (2560 x 1440) resolution with the ability to accurately reproduce 99 percent of the Adobe RGB color space. The monitor can also be rotated 90 degrees, enabling users to choose the screen orientation that best suits the specific needs.

TIPA, comprising of 29 magazines from 13 countries, is one of the most influential photographic and imaging press associations in the world.

FBR Freezes PTA Accounts to Recover Rs. 2 Billion

Large Tax-payer Unit (LTU) Islamabad of Federal Board of Revenue yesterday recovered Rs. Rs 2.038 from Pakistan Telecommunication Authority under the head of unpaid taxes by freezing its accounts in Islamabad.

According to sources, bank accounts were held and then freed after the recovery of unpaid taxes from year 2006.

Pakistan Telecommunication Authority and LTU Islamabad are long running this dispute over taxes.

There was a time when PTA hadn’t paid any taxes for ten years valuing over Rs. 10 billion. PTA claims that it is a government body itself and must pay all the revenues to government exchequer itself, however, LTU Islamabad is of the view that taxes must be collected from the revenues that PTA generates – in accordance with law – and this way the money will ultimately go to government exchequer.

LTU Islamabad had attached PTA accounts last year as well for similar reasons, and had recovered Rs. 3.6 billion.

FBR had collected PKR 3.43 billion in 2010 by carrying a similar action against the telecom authority.

It merits mentioning here that PTA collects various license fee and other dues from Telecom operators, which according to FBR are termed as revenues and must be taxed.