April 23, 2024

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Pakistan Revenue

Day: May 16, 2019

KSE-100 ends down 321 points on panic selling
May 16
Stock & Commodity

KSE-100 ends down 321 points on panic selling

KARACHI: Pakistan Stock Market (PSX) on Thursday fell by 321 points in panic selling over significant decline of rupee against dollar. The benchmark KSE-100 index of PSX closed at 33,971 points as against 34,292 points showing a decline of 321 points. Analysts at all the gains made yesterday got eroded in early trading. During the […]

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SBP to announce monetary policy on May 20
May 16
Money & Banking

SBP to announce monetary policy on May 20

KARACHI: State Bank of Pakistan (SBP) will announced monetary policy for next two months on Monday, May 20, 2019. A statement issued by the SBP on Thursday said that it would announce Monetary Policy on Monday, May 20, 2019. In the last monetary policy announcement on March 29, 2019, the central bank increased the policy […]

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Shipping agents demand forming task force to eliminate under/over invoicing
May 16
Ports and Shipping

Shipping agents demand forming task force to eliminate under/over invoicing

KARACHI: Shipping agents have demanded the Federal Board of Revenue (FBR) to form taskforce / joint investigation team (JIT) to eliminate the menace of under / over invoicing, mis-declaration and smuggling in Pakistan. In a letter to the chairman of FBR Syed Muhammad Shabbar Zaidi, the Pakistan Ship’s Agents Association (PSAA) congratulated the chairman for […]

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FBR recommended to exempt income tax on mortgage loans to facilitate salaried persons
May 16
2019-2020, Budget, Taxation

FBR recommended to exempt income tax on mortgage loans to facilitate salaried persons

KARACHI: Federal Board of Revenue (FBR) has been recommended to exempt income tax on mortgage loans in order to facilitate salaried persons. Currently the loans obtained from the employer below Benchmark interest rate is subject to tax, said Institute of Chartered Accountants of Pakistan (ICAP) in its tax proposals for budget 2019/2020. It recommended that […]

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Amnesty Scheme -2019: text of presidential ordinance
May 16
Taxation

Amnesty Scheme -2019: text of presidential ordinance

SLAMABAD: The amnesty scheme announced by the government for foreign and domestic undeclared assets a day earlier has been launched through promulgation of presidential ordinance on Wednesday. Following is the text of the presidential ordinance: An ORDINANCE To provide for voluntary declaration of undisclosed assets, sales and expenditure WHEREAS there is a reportedly large scale […]

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