ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that unexplained foreign remittances will be subject to income tax.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said the amended income tax law attract 200 percent penalty amount of tax evaded in cases of undeclared offshore assets. The FBR issued income tax circular to explain the changes brought through Finance Act, 2019 regarding offshore assets and tax evasion. The FBR said that through the […]
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified transfers and postings of eight BS-16 officers of Customs Department with immediate effect and until further. Following officers have been transferred and posted: 01. Asad Ali Shah (Customs Department/BS-16) has been transferred and posted as Superintendent, Directorate of Transit Trade, Peshawar from the post of Superintendent, […]
ISLAMABAD: Federal Board of Revenue (FBR) has made mandatory the purchase of immovable property of fair market value above Rs5 million through banking channel. The FBR issued explanation to the Finance Act, 2019 on Tuesday regarding purchase of assets through banking channel under Section 75A of Income Tax Ordinance, 2001. The FBR said that a […]
KARACHI: The share marked extended losses on Tuesday after shedding another 76 points amid selling pressure. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,658 points as against 31,734 points showing a decline of 76 points. Analysts at Arif Habib Limited said that the market traded mostly in negative zone with a […]
KARACHI: The Pak Rupee gained 39 paisas against dollar on Tuesday owing to improved inflows of export receipts and home remittances. The rupee ended Rs160.06 to the dollar as compared with the previous day’s closing of Rs160.45 in interbank foreign exchange market. Currency experts said that the improved inflows of export receipts and home remittances […]