Minimum tax regime withdrawn on commercial imports

KARACHI: The government has withdrawn the five percent minimum tax applicable on importer of finished goods. Read more »

Commissioner empowered to issue assessment order of past ten years on discovery of undisclosed offshore assets

KARACHI: The government has empowered Commissioner of Inland Revenue, Federal Board of Revenue (FBR) to make assessment orders of past ten tax years where undisclosed offshore assets discovered. Read more »

FBR to notify special procedure for small traders, shopkeepers

KARACHI: Federal Board of Revenue (FBR) will notify special procedure for payment of taxes and filing returns by small traders and shopkeepers. Read more »

Loss carry forward allowed for three years on disposal of securities

KARACHI: The government has provided relief to investors of stock exchange by allowing carry forward the losses for three years on disposal of securities. Read more »

Tax on undistributed profits not to applicable beyond tax year 2019

KARACHI: The tax on undistributed profits will not be applicable beyond tax year 2019 as limit has been introduced through Finance Supplementary (Second Amendment) Bill, 2019 presented in the National Assembly on... Read more »

Reform Package 2019: Withholding tax on cash withdrawal for filers abolished; super tax withdrawn; non-filers allowed purchase of motor vehicles

ISLAMABAD: Finance Minister Asad Umar on Wednesday presented economic reform package for promoting investment and exports. Read more »

KSE-100 gains 156 points on mini-budget positive outcome

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 156 points on Wednesday on expected positive outcome of mini-budget scheduled to be announced today. Read more »

Stock brokers directed to submit clients’ assets segregation statement

KARACHI: Pakistan Stock Exchange (PSX) on Wednesday directed the stock brokers to submit clients’ assets segregation statement duly verified by the statutory auditor. Read more »

Rupee ends unchanged on cautious trading

KARACHI: The Pak Rupee ended unchanged to the dollar in interbank foreign exchange market on Wednesday due to cautious trading ahead of mini-budget announcement. Read more »

FBR issues first Urdu version Customs Act 1969

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday launched first Urdu version of Customs Act, 1969 for the facilitation of traders and business community. Read more »

Income Tax Ordinance 2001: minimum tax on income of certain taxpayers

KARACHI: Federal Board of Revenue (FBR) has said that the minimum tax shall apply to income of certain taxpayers including individuals and corporate entities. Read more »

German consul general opens PSX trading

KARACHI: German Consul General Eugen Wollfarth opened the trading at Pakistan Stock Exchange (PSX) on Wednesday by ringing traditional bell. Read more »