New tax legislation sought for Islamic banking

KARACHI: Federal Board of Revenue (FBR) has been suggested to draft new legislation for taxation of Islamic banking. Read more »

SBP issues draft procedures for payment of duty, taxes under Tax Amnesty Scheme 2019

KARACHI: State Bank of Pakistan (SBP) Friday issued draft procedure for payment of duty and taxes against declaration made to avail amnesty scheme. Read more »

UBL completes winding up New York Branch

KARACHI: United Bank Limited (UBL) has completed winding up of its New York Branch following the agreement was terminated by Federal Reserve Bank of New York (FRBNY), a statement said on Friday. Read more »

KSE-100 gains 123 points amid selling activity

KARACHI: The stock market ended with gain of 123 points on Friday despite selling activity observed at the end of the trading. Read more »

Rupee recovers another 25 paisas against dollar

KARACHI: The Pak Rupee gained another 25 paisas against dollar for second day on Friday after witnessing massive deterioration during past nine days. Read more »

FTO directs audit of all manufacturers for misusing SRO 1125

ISLAMABAD: Federal Tax Ombudsman (FTO) has directed Federal Board of Revenue (FBR) to conduct audit of all manufacturers who availed the benefit of SRO 1125(I)/2011. Read more »

Compulsory acquisition of immovable properties for Naya Pakistan Housing Scheme; Ordinance promulgated

ISLAMABAD: The government will procure immovable properties for Naya Pakistan Housing Scheme through any means permissible under law including compulsory acquisition. Read more »

FBR suggested removing impediments in availing exemption certificates for industrial growth

KARACHI: Federal Board of Revenue (FBR) has been suggested to remove restriction of exemption certificates for import of plant and machinery for new projects in order to promote industrial growth in the... Read more »

France gives 94 million Euros soft loan to Pakistan

ISLAMABAD: French Agency for Development (AFD) has extended Euro 94.01 million soft loan to Pakistan for extension of water resources, a statement said on Thursday. Read more »