April 24, 2024

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Pakistan Revenue

Day: May 23, 2019

Pakistan imports cell phones worth Rs84.2 billion in ten months
May 23
Pakistan Customs, Taxation

Pakistan imports cell phones worth Rs84.2 billion in ten months

KARACHI: Pakistan has imported mobile phones worth Rs84.2 billion during July – April 2018/2019 despite serious economic difficulties in the country. According to Pakistan Bureau of Statistics (PBS) the country imported mobile phones Rs84.2 billion during first ten months of current fiscal year as compared with Rs73.77 billion in the corresponding months of the last […]

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Pakistan’s forex reserves fall by $768 million
May 23
Finance

Pakistan’s forex reserves fall by $768 million

KARACHI: Pakistan’s foreign exchange reserves have slipped by $768 million to $15.126 billion by weed ended May 17, 2019 from $15.894 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The official reserves of the SBP fell by $788 million to $8.057 billion by week ended May 17, 2019 from $8.845 billion […]

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Federal budget 2019/2020 to be presented on June 11
May 23
Finance

Federal budget 2019/2020 to be presented on June 11

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance, Revenue and Economic Affairs on Thursday said the federal budget 2019/2020 will be presented on June 11, 2019 in the National Assembly. Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh chaired a meeting to review the budget […]

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Rupee gains 50 paisas against dollar
May 23
Money & Banking

Rupee gains 50 paisas against dollar

KARACHI: The Pak Rupee gained 50 paisas against dollar on Thursday making adjustment after falling massively during the present week. The rupee ended Rs151.45 to the dollar from previous day’s closing of Rs151.95 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs151.50 and Rs152.00. The market recorded […]

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Demonetizing high denomination currency notes recommended to eliminate avenues for untaxed funds
May 23
2019-2020, Budget, Taxation

Demonetizing high denomination currency notes recommended to eliminate avenues for untaxed funds

KARACHI: The foreign investors and multinational companies have suggested the government to demonetize high denomination currency notes to eliminate parking lots for untaxed funds. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 suggested measures to eliminate legally permissible ‘parking lots’ for untaxed funds. The OICCI – representative […]

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FBR recommended tax exemption to inter-corporate dividend
May 23
2019-2020, Budget, Taxation

FBR recommended tax exemption to inter-corporate dividend

KARACHI: Federal Board of Revenue (FBR) has been suggested to allow tax exemption to inter-corporate dividend for promoting group formation and consolidation and strengthen the overall corporate structure in Pakistan. Pakistan Tax Bar Association (PTBA) – the umbrella of tax bars in the country – in its tax proposals for budget 2019/2020, said that through […]

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