May 3, 2024

Pkrevenue.com

Pakistan Revenue

Month: March 2019

Advance tax on electronic media, cable operators
Mar 19
Exclusive, Taxation

Advance tax on electronic media, cable operators

KARACHI: Electronic media and cable operators are required to pay adjustable advance tax at the time of obtaining new license or renewal of license. According to updated Income Tax Ordinance, 2001 issued by the Federal Board of Revenue (FBR), Pakistan Electronic Media Regulatory Authority (PEMRA) shall collect the advance tax at the time of issuance […]

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Asad Umar reviews revenue collection, broadening of tax base
Mar 19
Taxation

Asad Umar reviews revenue collection, broadening of tax base

KARACHI: Finance Minister Asad Umar on Monday reviewed the revenue collection progress and ongoing drive of broadening of tax base at a meeting with senior officials of Federal Board of Revenue (FBR).The meeting was attended by Member Inland Revenue Operations Ms. Seema Shakil, Member Customs Operations Agha Jawad, Chief Commissioners Inland Revenue and Chief Collectors […]

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FBR adds over 114,000 return filers to ATL
Mar 18
Exclusive, Taxation

FBR adds over 114,000 return filers to ATL

ISLAMABAD: Federal Board of Revenue (FBR) has added over 114,000 return filers to Active Taxpayers List (ATL) following the grant of extension in filing income tax returns for Tax Year 2018 up to March 31, 2019. The FBR issued weekly updated ATL 2018 on Monday, which showed the number of active taxpayers increased to 1.75 […]

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Preventive auctions confiscated vehicles on March 19
Mar 18
Pakistan Customs, Taxation

Preventive auctions confiscated vehicles on March 19

KARACHI: Model Customs Collectorate (MCC) Preventive has announced public auction of confiscated vehicles on March 19, 2019 to be held at State Warehouse, Ghasbandar, East Wharf, Karachi. The following vehicles will be presented for auction: 01. Mitsubishi Pajero Jeep, GS-200, Model 1994, Chassis No. Reg. GS-2000/V46-4034794 02. Lexus Car, Model 2006, 3450CC, Chassis No. JTHBG963905034702 […]

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Equity market climbs up by 545 points
Mar 18
Stock & Commodity

Equity market climbs up by 545 points

KARACHI: The equity market gained 545 points on Monday following positive comments came from the finance minister at an even. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,852 points as against 38,307 points showing an increase of 545 points. Analysts at Arif Habib Limited said that the market opened on a […]

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Rupee ends down by 11 paisas against dollar
Mar 18
Money & Banking

Rupee ends down by 11 paisas against dollar

KARACHI: The rupee ended down by 11 paisas against dollar on Monday owing to high demand for import and corporate payments. The rupee closed at Rs139.39 to the dollar from last Friday’s close of Rs139.28 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs139.30 and Rs139.40. The […]

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FBR not to conduct raids: FPCCI
Mar 18
Trade & Industry

FBR not to conduct raids: FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday said that the tax authorities have assured of not to conduct raids and harass taxpayers. Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Dr. Mirza Ikhtair Baig Sr. Vice President FPCCI, Vice Presidents FPCCI, Mr. […]

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Rupee weakens against dollar in mid-day trading
Mar 18
Money & Banking

Rupee weakens against dollar in mid-day trading

KARACHI: The Pak Rupee weakened against dollar by 13 paisas in mid-day trading on Monday owing to higher demand for import and corporate payments. The US dollar is being traded at Rs139.41 in interbank foreign exchange market. Currency experts said that the demand pressure was due to market opened after two weekly holidays. They said […]

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Income Tax Ordinance 2001: amended advance tax rates on marriages, functions
Mar 18
Exclusive, Taxation

Income Tax Ordinance 2001: amended advance tax rates on marriages, functions

KARACHI: Federal Board of Revenue (FBR) has updated advance tax rates on marriages and functions through latest amendment to Income Tax Ordinance, 2001.The national assembly recently approved Finance Supplementary (Second Amendment) Act, 2019 and advance tax rate for functions and gathering has been updated.The advance tax is collected under following section of the Ordinance.Section 236D: […]

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