The Economic Survey of Pakistan 2018/2019 stated that the payment for imported vehicles can now be made at the customs stage through foreign remittances received in the account of family members of the sender.
KARACHI: Federal Board of Revenue (FBR) has proposed retaining period of machinery to five years imported by exporters for disposing of without duty and taxes. The FBR through SRO 805(I)/2019 proposed amendments to Customs Rules, 2001 and proposed to enhance the retaining period of machinery for manufacturers having facility within Export Processing Zones to five […]
KARACHI: Federal Board of Revenue (FBR) has directed banks to provide details of all those persons receiving interests above Rs500,000 in a year on their deposits. The FBR sources said that an amendment has been introduced to Section 165A of Income Tax Ordinance, 2001 through Finance Act, 2019 and tightened laws regarding information providing by […]
KARACHI: The stock market to remain range bound next week. Investors are expected to have a cautious stance keeping in view monetary policy announcement on July 16, 2019, analysts at Arif Habib Limited said. The analysts said that the State Bank of Pakistan (SBP) may increase a 100 basis points in view of aggravating inflationary […]
Syed Shabbar Zaidi, Chairman of the Federal Board of Revenue (FBR), addressed the media on Friday, affirming the government’s commitment to expanding the tax base while ensuring that no sector of the economy is unduly burdened.