If FBR not fixed, new tax authority will be created: PM

Mar 7

National, Taxation

If FBR not fixed, new tax authority will be created: PM

ISLAMABAD: Prime Minister Imran Khan on Thursday said that reforming Federal Board of Revenue (FBR) is priority of the government. If the FBR fails to deliver then we will replace with a new tax authority, he said while addressing at the 11th All Pakistan Chambers President Conference. He said that the reforms in the taxation […]

by Faisal Shahnawaz

KTBA requests FBR to include late-filers’ name into ATL

Mar 7

Taxation

KTBA requests FBR to include late-filers’ name into ATL

KARACHI: The Karachi Tax Bar Association (KTBA) on Thursday requested tax authorities to include names of late filers of income tax returns, who already applied for extension, into Active Taxpayers List (ATL). The KTBA requested the chairman of Federal Board of Revenue (FBR) to issue instructions for inclusion of the names of those taxpayers who […]

by Faisal Shahnawaz

SRB suspends sales tax registration of Baba Farid Carriage

Mar 7

Taxation

SRB suspends sales tax registration of Baba Farid Carriage

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Baba Farid Carriage Company for default payment related to period January 2017 to August 2018. The SRB said that non-payment of Sindh sales tax on services is contravention of provincial tax laws. It said that record showed that M/s. Fauji Fertilizer Company Limited, […]

by Faisal Shahnawaz

Forex reserves increase by $140 million to $14.956 billion

Mar 7

Finance

Forex reserves increase by $140 million to $14.956 billion

KARACHI: The liquid foreign exchange reserves of the country increased by $140 million to $14.956 billion by week ended March 01 as compared with $14.816 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The reserves held by the central bank increased by $80 million to $8.116 billion by the end of […]

by Faisal Shahnawaz

FBR notifies transfers, postings of key IRS posts

Mar 7

Taxation

FBR notifies transfers, postings of key IRS posts

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday notified transfers and postings of key posts in Inland Revenue Service (IRS) with immediate effect. The FBR transferred and posted Zulfiqar Hussain Khan (IRS/BS-20) as the Director General (OPS), Directorate General of Internal Audit (Inland Revenue), Islamabad from the post of Chief (L&C) FBR, Islamabad. The […]

by Faisal Shahnawaz

Mar 7

Stock & Commodity

KSE-100 ends down by 274 points

KARACHI: The equity market ended down by 274 points on Thursday due to selling pressure. The benchmark KSE-100 index closed at 39,294 points as against 39,568 points showing a decline of 274 points. Analysts at Arif Habib Limited said that the market was remained under pressure today and after exclusion of trades in BOP, the […]

by Faisal Shahnawaz

Mar 7

Money & Banking

Rupee gains 20 paisas against dollar

KARACHI: The Pak Rupee gained 20 paisas against dollar on Thursday owing to inflows of remittances and export receipts. The rupee ended Rs138.64 to the dollar from previous day’s close of Rs138.84 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.70 and Rs138.75. The market recorded day […]

by Faisal Shahnawaz

SBP directs for opening bank branches on Saturday to receive Hajj applications

Mar 7

National

SBP directs for opening bank branches on Saturday to receive Hajj applications

KARACHI: State Bank of Pakistan (SBP) on Thursday directed commercial banks to open branches on March 09 (Saturday) for collection of Hajj forms. The SBP said that Ministry of Religious Affairs & Interfaith Harmony, Government of Pakistan has extended the date for collection of Hajj applications by designated banks from March 7, 2019 to March […]

by Faisal Shahnawaz

Local car assemblers to be beneficiary on concession to non-compliant taxpayers

Mar 7

Taxation

Local car assemblers to be beneficiary on concession to non-compliant taxpayers

KARACHI: The local car assemblers are main beneficiary of the government decision to allow non-compliant taxpayers for purchasing motor vehicles, analysts said on Thursday. A day earlier on floor of the house Finance Minister Asad Umar presented this proposal to the Finance Supplementary (Second Amendment) Bill, 2019 to allow non-filers of income tax returns to […]

by Faisal Shahnawaz

Company registration crosses over 95,500 by February

Mar 7

Finance

Company registration crosses over 95,500 by February

ISLAMABAD: Total company registration with Securities and Exchange Commission of Pakistan (SECP) has crossed 96,500 by end of February 2019. A statement issued by the SECP said that about 1,290 new companies were registered in February. As compared to the corresponding month of last financial year, it represents a growth of 26 percent raising the […]

by Faisal Shahnawaz