Pakistan imports mobile phones worth Rs26 billion; up 52.4pc in July – August

KARACHI: Pakistan has imported mobile phones worth Rs26 billion during first two months of current fiscal year, which is 52.4 percent higher when compared with Rs16.98 billion in the same period of the last fiscal year. The higher import of mobile phones can be attributed to massive depreciation of Pak Rupee during the comparative year […]

by Mrs. Anjum Shahnawaz

SRB suspends sales tax registration of Wateen Telecom

Sep 23

IT & Telecom, Taxation

SRB suspends sales tax registration of Wateen Telecom

KARACHI: Sindh Revenue Board (SRB) has suspended the sales tax registration of Wateen Telecom Limited for failure to deposit the tax to the provincial kitty. In a notice for suspension of registration of Wateen Telecom Limited on Monday, the SRB said that scrutiny of tax profile of the company revealed that it had failed to […]

by Mrs. Anjum Shahnawaz

Sep 23

Stock & Commodity

Stock market ends down by 360 points

KARACHI: The stock market ended down by 360 points on Monday owing to negative sentiments in oil and gas sector. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,751 points as against 32,111 points showing a decline of 360 points. Analysts at Arif Habib Limited said that the start of the rollover […]

by Mrs. Anjum Shahnawaz

Rupee falls by nine paisas on higher demand for import payment

Sep 23

Money & Banking

Rupee falls by nine paisas on higher demand for import payment

KARACHI: The Pak Rupee fell by nine paisas against dollar on Monday owing to higher demand for import and corporate payments after weekly holidays. The rupee ended Rs156.17 to the dollar from last Friday’s close of Rs156.08 in interbank foreign exchange market. Currency dealers said that the demand for import and corporate payment was high […]

by Mrs. Anjum Shahnawaz

Car imports fall sharply by 85 percent in first two months

Sep 23

Finance

Car imports fall sharply by 85 percent in first two months

KARACHI: The car imports in Pakistan have sharply fell by 85 percent during first two months of current fiscal year owing to payment restriction imposed for customs clearance.

by Mrs. Anjum Shahnawaz

Late return filers may get ATL status after payment of surcharge

Sep 23

Taxation

Late return filers may get ATL status after payment of surcharge

ISLAMABAD: Persons, who fail to file their income tax return by due date, may be included into the Active Taxpayers List (ATL) after payment of surcharge. Inclusion in ATL is mandatory to avail reduced rate of withholding tax. Through Finance Act, 2019 the rates of withholding tax have been increased 100 percent for those persons […]

by Mrs. Anjum Shahnawaz