SBP imposes penalty on four banks for violating AML/KYC

KARACHI: The State Bank of Pakistan (SBP) has imposed penalty of Rs184.64 million upon four commercial banks for violating laws related to Anti-Money Laundering (AML)/Know Your Customer (KYC). Read more »

FBR defers action against traders till September 30

ISLAMABAD: Federal Board of Revenue (FBR) has decided not to take any adverse action under tax laws against traders till September 30, 2019 regarding information obtained through Computerized National Identity Card (CNIC). Read more »

Share market ends down by 539 points on border, political conflicts

KARACHI: The share market witnessed another decline of 539 points on Thursday amid escalating conflict between Pakistan and India and arrest of PML-N leader by National Accountability Bureau (NAB). Read more »

Foreign exchange reserves fall by $41 million to $15.02 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $41 million to $15.02 billion by week ended August 02, 2019 as compared with $15.061 billion a week ago, State Bank... Read more »

Rupee ends unchanged against dollar

KARACHI: The Pak Rupee ended unchanged against dollar on Thursday despite inflows of remittances and export receipts. Read more »

Procedure issued to sanction sales tax refund claims of importers

ISLAMABAD: Federal Board of Revenue (FBR) issued procedure for sanctioning refund claims on sales tax collected against imported goods. Read more »

FBR issues procedure for zero-rated supplies to Duty Free Shops

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for zero-rated sales tax supply to duty free shops. Read more »

HBL declares 51 percent decline in net profit during first quarter

KARACHI: Habib Bank Limited (HBL) on Thursday declared 51 percent decline in net profit during the first half ending June 30, 2019. Read more »

Rupee gains 40 paisas in early trade

KARACHI: The Pak Rupee continued appreciation against dollar as the local unit gained 40 paisas in early trade on Thursday. Read more »

KSE-100 falls below 30,000 points, sheds 433 points in early trade

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell below the psychological barrier of 30,000 points and trading at 29,844 points on Thursday morning. Read more »

2019/2020: Withholding tax rates on insurance premium

ISLAMABAD: The insurance companies are required to deduct/collect withholding tax only from persons not appearing on the Active Taxpayers List (ATL) at the time of collection of insurance premium. Read more »