Sales tax rates revised for imported mobile phones

KARACHI: The government has revised the sales tax on mobile phones at the time of import or local supply and sales tax chargeable at the time of registration of IMEI number by... Read more »

SBP’s forex reserves depletes by $265 million to $6.636 billion

KARACHI: Liquid foreign exchange reserves of State Bank of Pakistan (SBP) have depleted by $265 million to $6.636 billion by week ended January 18, 2019 as compared with $6.901 billion a week... Read more »

Stock market remains buoyant on reform package

KARACHI: The equity market on Thursday remained buoyant on positive outcome of the finance supplementary second amendment bill, 2019. Read more »

Prime Minister directs FBR, FIA to stop harassment in amnesty scheme cases

ISLAMABAD: Prime Minister Imran Khan has directed Federal Board of Revenue (FBR) and Federal Investigation Agency (FIA) to stop harassing businessmen who availed amnesty scheme and completed all codal formalities. Read more »

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

KARACHI: The government will issue promissory notes for payment of sales tax refunds and an annual profit of 10 percent will be given on these financial instruments, sources in Federal Board of... Read more »

Rupee strengthens on reform package announcement

KARACHI: The Pak Rupee strengthened against dollar on Thursday owing to many incentives announced in the reform package by the government. Read more »

KCCI hopes reform package to boost industrialization

KARACHI: The business community of Karachi praised Finance Minister Asad Umar for presenting the Economic Reforms Package and hoped it will promote industrialization and curtail trade deficit. Read more »

Finance Supplementary Bill: Major changes introduced to income tax

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into income tax regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Finance Supplementary Bill: FBR issues salient features of sales tax and federal excise duty

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into sales tax and Federal Excise Duty (FED) regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on... Read more »

Finance Supplementary Bill: FBR issues salient features of customs duty regime

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into Customs duty regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Reduced income tax rate of Rs5,000 for marriage halls

KARACHI: The government has introduced a reduced rate of income tax of up to Rs5,000 for marriage functions organized in an area less than 500 square yards. Read more »

Only non-filers to pay withholding tax on cash, non-cash banking transactions

KARACHI: The government has facilitated compliant taxpayers by abolishing withholding tax on cash withdrawal from banks by filers of income tax returns. Read more »