KARACHI: The foreign exchange reserves of the country have slipped by $36 million to $15.09 billion by week ended May 24, 2019 as compared with $15.126 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The official reserves of the central bank came down by $47 million to $8.01 billion by week […]
KARACHI: The stock market ended flat on Thursday after witnessed high band trading during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,974 points as against 35,959 points showing an increase of 15 points. Market carried with the momentum showed yesterday and opened on a positive note today with +259 […]
KARACHI: The Pak Rupee made significant recovery of Rs1.35 against dollar on Thursday owing to measures taken by the government to check illegal outflows of the foreign currency. The rupee ended Rs148.40 to the dollar from previous day’s closing of Rs149.75 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the […]
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Multinet Pakistan (Pvt.) Limited for defaulting tax payment and non-compliance in filing monthly sales tax return. Multinet Pakistan, is one of the premier information and communication solution providers for leading enterprises in the region. A notification issued by the SRB, stated that the […]
KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has proposed restricting powers of Directorate General of Intelligence and Investigation (I&I) as multiple powers of tax authorities are causing hardship for taxpayers. The ICAP in its tax proposals for budget 2019/2020 said that the Federal Board of Revenue (FBR) through SRO 115 (I)/2015 dated February 09, […]
KARACHI: Pakistan Tax Bar Association (PTBA) has submitted budget proposals 2019/2020 to Sindh Revenue Board (SRB) suggesting to reduce time limit for retaining records to 5 years from 10 years. The apex tax bar said that under present legislation a taxpayer is required to retain records for a period of 10 years and show-cause notices […]
ISLAMABAD: The National Economic Council (NEC) in its meeting held on Wednesday approved GDP target at 4 percent for fiscal year 2019/2020. Prime Minister Imran Khan chaired the NEC meeting at the PM Office. The meeting reviewed Annual Plan 2018/2019 and the proposed Annual Plan 2019/2020. The meeting approved GDP growth target of 4 percent […]