ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued draft rules for small shopkeepers to pay income tax and file annual returns. The FBR defined ‘Small Shopkeeper’ as an individual where the business is carried out at a premises having covered area less than 300 square feet but does not include a shopkeeper if he […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that sales tax can only be recovered from customer if the supplier is registered for sales tax purpose. The FBR issued Sales Tax Circular No. 02 of 2019 and said that it was observed in many cases, suppliers of goods and services were charging sales tax […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued draft rules for obtaining license which is mandatory for any business, profession or vocation to display. According to draft amendment, the FBR proposed new rules, after Chapter XIII, the following new Chapter to Income Tax Rules, 2002 shall be inserted, namely:— “Chapter XIIIA Obtaining and Issuance […]
KARACHI: The liquid foreign exchange reserves of the country have increased by $200 million to $15.062 billion by week ended July 26, 2019, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves were at $14.862 billion a week ago, the central bank said. The official reserves of the central bank increased to […]
KARACHI: The share market ended down by 99 points on Thursday in a mixed trading session. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 31,839 points as against 31,938ts showing a decrease of 99 points. Analysts at Arif Habib Limited said that the market traded in a narrow range with an […]
KARACHI: The Pak Rupee gained 18 paisas against dollar on Thursday owing to improved inflows of foreign remittances and export receipts. The rupee closed at Rs159.42 to the dollar from previous day’s closing of Rs159.60 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs159.60 and Rs159.68. The market […]