New tax amnesty scheme to be considered: Asad Umar
Finance Minister Asad Umar announced on Saturday that the government is contemplating the implementation of a new tax amnesty scheme, driven by proposals received from the business community.
Finance Minister Asad Umar announced on Saturday that the government is contemplating the implementation of a new tax amnesty scheme, driven by proposals received from the business community.
KARACHI: Pak Rupee gained 20 paisas against US dollar in open market on Saturday on reports of foreign inflows from friendly countries. The buying and selling of dollar was recorded at Rs138.30/Rs138.80 from previous day’s closing of Rs138.50/Rs139.00 in cash free market. Currency experts said that the signing of financing between State Bank of Pakistan […]
KARACHI: State Bank of Pakistan (SBP) has signed $2 billion deposit agreement with Abu Dhabi Fund for Development, a statement said on Saturday. The agreement for the placement of the second tranche of US$ 2.0 billion by Abu Dhabi Fund for Development (ADFD) with the State Bank of Pakistan (SBP) has been signed between the […]
KARACHI: All efforts of tax collecting agency in broadening of tax base will be in vain due to changes introduced to tax laws by the present government, which allows non-compliant taxpayers to make transactions. The government through Finance Supplementary (Second Amendment) Bill, 2019, which was passed by the national assembly, allowed non-filers of income tax […]
KARACHI: Any person who commits any offence under provisions of Income Tax Ordinance, 2001, he may be liable to penalty. According to updated Income Tax Ordinance, 2001 issued by Federal Board of Revenue (FBR), Section 182 explains the offenses and penalty under the Ordinance: 01. Where any person fails to furnish a return of income […]
KARACHI: The equity market to stay range bound during next week after end of results season and ease in tension between Pakistan and India. Analysts at Arif Habib Limited said that despite reduction of noise from our Eastern neighbour, investors are likely to take a cautious approach. Whereas conclusion of result season could also keep […]
KARACHI: Federal Board of Revenue (FBR) has pointed out basic concepts of income tax for persons intending to get registration and filing income tax returns. The FBR said that knowledge of basic concepts would not only ensure that the tasks are performed easily but also in the prescribed manner. Taxable Income Taxable Income means Total […]
KARACHI: The prices of essential items increased by 11.72 percent by week ended March 07, 2019 when compared with the same week last year, according to data released by Pakistan Bureau of Statistics (PBS) on Friday. According to Sensitive Price Indicator (SPI) all the income groups had witnessed inflation for the period. The PBS computes […]