FBR issues guidelines for refund payment through bonds

ISLAMABAD: In order to facilitate businesses / exporters whose refund claims are pending with Federal Board of Revenue (FBR) and they are facing liquidity problem, it has been decided to pay sales tax refunds through bonds to the claimants who express willing to get refund through bonds. Following are important guidelines in this respect: — […]

by Faisal Shahnawaz

Mar 30

Money & Banking

SBP holds SaarcFinance seminar on audit

KARACHI: State Bank of Pakistan (SBP) hosted a seminar on ‘Internal Audit: Emerging Challenges and Effective Practices in Central Banks’ under the aegis of SAARCFINANCE Forum at National Institute of Banking and Finance, Islamabad during 27-29 March 2019, a statement said on Saturday. Besides Pakistan, officials from SAARC central banks participated in the event. Qasim […]

by Faisal Shahnawaz

Mar 30

Money & Banking

Rupee falls by 70 paisas in open market

KARACHI: The Pak Rupee fell by 70 paisas against dollar on Saturday owing to demand in the open market. The buying and selling of dollar was recorded at Rs142.00/Rs142.50 from previous day’s close of Rs141.30/Rs141.80 in cash ready market. The rupee depreciated during the past two days owing to enhancing key policy rate and the […]

by Faisal Shahnawaz

FBR requested to extend return filing date up to April 30

Mar 30

Taxation

FBR requested to extend return filing date up to April 30

KARACHI: Pakistan Tax Bar Association (PTBA) has requested Federal Board of Revenue (FBR) to extend the last date for filing income tax returns up to April 30, 2019. In a letter to FBR chairman, the tax bar expressed gratitude for accepting the request for extending the date of filing of tax returns for tax year […]

by Faisal Shahnawaz

Mar 30

Stock & Commodity

Weekly Review: Market to remain range bound

KARACHI: The stock market likely to remain range bound in the upcoming week amid lack of triggers. Analysts at Arif Habib Limited said that with the State Bank of Pakistan raising the key discount rate by 50 bps, leveraged sectors such as Cements, Steel, Fertilizers, OMCs and Textiles may come under pressure while banks could […]

by Faisal Shahnawaz

SECP holds awareness session for NPOs on AML/CFT

Mar 30

Finance

SECP holds awareness session for NPOs on AML/CFT

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has conducted an awareness session on Anti-Money Laundering (AML)/Counter-Terrorism Financing (CFT) in collaboration with of Institute of Chartered Accountants of Pakistan (ICAP), a statement said on Friday. The SECP said that the awareness session was conducted AML/CFT obligations of non-profit organizations (NPOs) licensed under section 42 of […]

by Faisal Shahnawaz

SRB suspends sales tax registration of two goods transport companies

Mar 30

Taxation

SRB suspends sales tax registration of two goods transport companies

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of two goods transport companies for defaulting payment and non-compliance of monthly returns, officials said on Friday. The SRB suspended sales tax registration of M/s. Sheikh Zahoor Goods and M/s. New Darwesh Goods Transport for violating provincial tax laws. The SRB suspended registration of Sheikh […]

by Faisal Shahnawaz