April 26, 2024

Pkrevenue.com

Pakistan Revenue

Day: May 17, 2019

SBP issues list of e-branches for obtaining fresh currency notes for Eid-ul-Fitr
May 17
Money & Banking, National

SBP issues list of e-branches for obtaining fresh currency notes for Eid-ul-Fitr

KARACHI: State Bank of Pakistan (SBP) on Friday issued list of 1,718 e-branches for sending SMS and obtaining fresh currency notes for Eid-ul-Fitr. The SBP said that fresh currency notes will be available from designated commercial bank branches called “e-branches” and the sixteen field offices of SBP BSC. The booking of the service shall commence […]

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Hafeez Shaikh approves disaster support fund worth Rs17bn for stock exchange
May 17
Stock & Commodity

Hafeez Shaikh approves disaster support fund worth Rs17bn for stock exchange

KARACHI: Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance and Revenue on Friday met members of delegation of stock exchange and approved Rs17 billion amounting disaster support fund. According to sources a meeting between stock members delegation consisting of Arif Habib, Aqeel Karim Dhedhi, Basheer Jan Muhammad, and Sulaiman Mehdi with the advisor. […]

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Dollar makes record high at Rs150
May 17
Money & Banking

Dollar makes record high at Rs150

KARACHI: The Pak Rupee deteriorated mercilessly on Friday to reach all time low at Rs 150 to the dollar in Interbank Foreign Exchange Market. The rupee fell around Rs3.50 to the dollar in intraday trading. The dollar is being traded at Rs 150 from last day closing of Rs146.50. Currency experts said that the government […]

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Black money invested in immovable properties allowed whitening at just 1.5 percent of tax
May 17
Exclusive, Taxation

Black money invested in immovable properties allowed whitening at just 1.5 percent of tax

KARACHI: The government has allowed whitening of money investment in immovable properties at nominal income tax rate of 1.5 percent on declaration made by June 30, 2019. The federal cabinet approved tax amnesty scheme 2019 for undeclared domestic and foreign assets, which was also promulgated through presidential ordinance. The government allowed undeclared immovable properties at […]

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FBR advised reducing income tax to half for exporters other than five zero-rated sectors
May 17
2019-2020, Budget, Trade & Industry

FBR advised reducing income tax to half for exporters other than five zero-rated sectors

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce the income tax rate to half for exporters not falling under five zero-rating scheme in order to promote and diversification of exports. Pakistan Business Council (PBC) in its tax proposals for forthcoming budget 2019/2020 said that at present the rate of tax deduction on […]

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PTBA recommends eliminating 12 provisions of withholding tax in next budget
May 17
2019-2020, Budget, Taxation

PTBA recommends eliminating 12 provisions of withholding tax in next budget

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended abolishing 12 different provisions of withholding income tax in order reduce the cost of business. The apex tax bar of the country in its tax proposals for upcoming budget 2019/2020 recommended rationalization of withholding tax regime and in the first step it suggested eliminating 12 withholding tax […]

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