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Exclusive, Taxation February 17, 2019

Income Tax Ordinance 2001: Commissioner IR empowered to make assessment for non-compliant taxpayers

KARACHI: Commissioners of Inland Revenue have been empowered to make ‘best judgement assessment’ for taxpayers, who fail to file annual returns, for making payment of due taxes.

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Money & Banking February 17, 2019

Carrying above $10,000 without source to be dealt under anti-money laundering laws

KARACHI: The government has prescribed a limit of foreign currency amounting above $10,000 or equivalent within Pakistan. A person carry foreign currency above this limit without explaining source may be dealt under prevailing laws including…


Money & Banking, National February 17, 2019

Maximum Rs3,000 allowed to take out from Pakistan to India

KARACHI: A person is allowed to take out Pakistani currency a maximum amount of Rs3,000 for traveling to India.


Pakistan Customs, Taxation February 17, 2019

Green channel passengers asked to cooperate with customs on examination selection

KARACHI: Passengers on arrival from abroad at any airport passing through green channel have been asked to cooperate with customs authorities for examination in case randomly or parametric selection.


Money & Banking February 16, 2019

Rupee ends stable in open market

KARACHI: The Pak Rupee ended stable against dollar in the open market on Saturday owing to lower demand of foreign currency.


Trade & Industry February 16, 2019

Chinese delegation visits FPCCI to explore business opportunities

KARACHI: A delegation of Chinese businessmen has visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to explore business opportunities between the two countries, a statement said on Saturday.


Exclusive, Taxation February 16, 2019

Income Tax Ordinance 2001: Notice can not be issued after 180 days for incomplete return

KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.


Finance February 16, 2019

Oil import bill soars to $8.68 billion in July –January

ISLAMABAD: The oil import bill has surged to $8.68 billion due to significant increase in import of liquefied natural gas (LNG), according to data released by Pakistan Bureau of Statistics (PBS).


Finance February 16, 2019

Pakistan imports mobile phones worth Rs55 billion in seven months

ISLAMABAD: Despite the government’s effort to curtail import bill the country imported mobile phones worth Rs55 billion during first seven months of current fiscal year.


Stock & Commodity February 16, 2019

Weekly Review: Market expected to remain upbeat on visit of Saudi Crown Prince

KARACHI: The equity market likely to recover from recent correction and remain upbeat in the next week owing to historical visit of Saudi Crown Prince.


Finance February 16, 2019

Import of used motor cars decline by 36 percent in seven months

KARACHI: The import of completely built unit (CBU) motor cars has sharply declined by 36 percent owing to restriction imposed on non-filers of income tax return filers, according to data released by Pakistan Bureau of…


Finance February 16, 2019

Committee constituted to enhance cargo, container transportation through rail service

KARACHI: Sheikh Rashid Ahmed, Minister for Pakistan Railways along with his team visited head office of Karachi Port Trust on Friday to discuss the potential of transportation of cargo through rail service.


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Taxation

February 17, 2019

Income Tax Ordinance 2001: Commissioner IR empowered to make assessment for non-compliant taxpayers


February 17, 2019

Green channel passengers asked to cooperate with customs on examination selection


February 16, 2019

Income Tax Ordinance 2001: Notice can not be issued after 180 days for incomplete return


Finance

February 16, 2019

Oil import bill soars to $8.68 billion in July –January


February 16, 2019

Pakistan imports mobile phones worth Rs55 billion in seven months


February 16, 2019

Import of used motor cars decline by 36 percent in seven months


Money & Banking

February 17, 2019

Carrying above $10,000 without source to be dealt under anti-money laundering laws


February 17, 2019

Maximum Rs3,000 allowed to take out from Pakistan to India


February 16, 2019

Rupee ends stable in open market


Stock & Commodity

February 16, 2019

Weekly Review: Market expected to remain upbeat on visit of Saudi Crown Prince


February 15, 2019

Equity market ends down amid positive investment reports


February 14, 2019

KSE-100 index ends down on profit taking


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