April 17, 2024

Pkrevenue.com

Pakistan Revenue

Day: May 9, 2019

FBR sets up directorate to initiate legal action in suspicious transactions, stop currency smuggling
May 9
Pakistan Customs, Taxation

FBR sets up directorate to initiate legal action in suspicious transactions, stop currency smuggling

ISLAMABAD: Federal Board of Revenue (FBR) has established Directorate of Cross Border Currency Movement (CBCM) to stop individual and trade based money laundering and initiate legal action in suspicious transactions. The directorate shall be function under administrative control of the Directorate General of Intelligence and Investigation, Customs, a notification said on Thursday. According to its […]

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ACCA suggests making FBR immovable property values in line with fair market value to stop asset undervaluation
May 9
2019-2020, Budget, Taxation

ACCA suggests making FBR immovable property values in line with fair market value to stop asset undervaluation

KARACHI: Association of Chartered Certified Accountants (ACCA) Pakistan has urged the Federal Board of Revenue (FBR) to bring the immovable property values in line with fair market values to discourage under-valued asset declarations. In its tax proposals for budget 2019/2020, the association said that there is a general tendency to undervalue assets leading to tax […]

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Rupee depreciates by 27 paisas against dollar
May 9
Money & Banking

Rupee depreciates by 27 paisas against dollar

KARACHI: The rupee depreciated by 27 paisas against dollar on Thursday owing to reports of tough conditions under new IMF loan program. The rupee ended at Rs141.39 to the dollar from previous day’s close of Rs141.12 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.15 and Rs141.20. […]

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Pakistan’s forex reserves increase by $229 million
May 9
Finance

Pakistan’s forex reserves increase by $229 million

KARACHI: The foreign exchange reserves of the country have increased by $229 million to $15.972 billion by week ended May 03, 2019 as compared with $15.742 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves held by central bank increased by $179 million to $8.984 billion as compared […]

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FPCCI flays rise in air fares on domestic routes
May 9
Trade & Industry

FPCCI flays rise in air fares on domestic routes

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has flayed hike in air fares by domestic airlines. In a statement issued on Thursday Engr. Daroo Khan Achakzai, President FPCCI and S.M. Muneer, Leader of the Business Community, Former Chief Executive TDAP and Former President of FPCCI showing concern on continuation of abrupt hike […]

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ICAP recommends harmonization of federal, provincial tax laws
May 9
2019-2020, Taxation

ICAP recommends harmonization of federal, provincial tax laws

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has recommended harmonization of federal and provincial tax laws to facilitate the taxpayers. In its budget proposals for fiscal year 2019/2020 the ICAP suggested following measures for harmonization of federal and provincial taxes: Integration of Taxation Authorities for One-Window Solution The ICAP believes, there should be a […]

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Sindh exempts sales tax on insurance services
May 9
Exclusive, Taxation

Sindh exempts sales tax on insurance services

KARACHI: The Sindh government has exempted the insurance services from payment of sales tax up to June 30, 2019. Sindh Revenue Board (SRB) on Wednesday issued a notification stating that with the approval of the provincial government it had exempted the insurance services (other than its related re-insurance services) from the whole of the sales […]

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