Byco Petroleum declares 96pc decline in half-year profit

KARACHI: The net profit of Byco Petroleum Pakistan Ltd. fell sharply by 96 percent for the first half ending December 31, 2018 due to depreciation in Pak Rupee value and weak upliftment... Read more »

FBR notifies rules for online monitoring of five major items

ISLAMABAD: Federal Board of Revenue (FBR) has notified rules for electronic monitoring of five goods in order to prevent sales tax evasion. Read more »

Pakistan to strongly respond Indian aggression, NSC decides

ISLAMABAD: Pakistan on Tuesday decided to strongly respond to Indian aggression, which violated the airspace. Read more »

FBR notifies function, powers of intelligence directorate

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified functions and powers Directorate General of Intelligence and Investigation under Federal Excise Act, 2005. The FBR issued SRO 251(I)/2019 to notify following functions... Read more »

Equity market sinks by 785 points on Indian aggression

KARACHI: The equity market eroded by 785 points on Tuesday following violation of Pakistani air space by India. Read more »

FPCCI condemns air space violation by India

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday strongly condemned India for violating Pakistani air space. Read more »

Rupee falls by 30 paisas on rising border tension

KARACHI: The Pak Rupee ended sharply down by 30 paisas against US dollar on Tuesday owing to latest border violation by Indian air force. Read more »

Banks to remain open on Saturday, Sunday for receiving Hajj applications

KARACHI: State Bank of Pakistan (SBP) on Tuesday said that the commercial banks will remain open on March 2-3 (Saturday – Sunday) to facilitate pilgrims in depositing Hajj applications along with dues. Read more »

Rupee falls on growing Pak-India tension

KARACHI: The Pak Rupee fell sharply by 28 paisas against US dollar in early trade on Tuesday owing to latest border violation by Indian air force. Read more »

Income Tax Ordinance 2001: Commissioner can take assistance of police, civil armed forces to conduct audit

KARACHI: A commissioner of Inland Revenue (IR) can take assistance of government authorities, police and civil armed forces to conduct audit of taxpayers. Read more »

Refund should have no nexus with revenue targets: FTO

ISLAMABAD: The office of Federal Tax Ombudsman (FTO) has advised Federal Board of Revenue (FBR) to set its targets rationally and refunds should have no nexus with revenue targets. Read more »