Sep 27

Banks directed to adopt standard QR codes for payments in Pakistan

KARACHI: State Bank of Pakistan (SBP) has directed all commercial banks and other financial institutions to adopt EMVCo’s EMV QR Code Specifications for Payment Systems (QRCPS). The SBP said that Quick Response (QR) Codes have been emerging as low cost payment acceptance alternative to Point of Sale (POS) terminals in Pakistan, especially for small merchants. […]

by Mrs. Anjum Shahnawaz

FBR issues instructions for filing income tax returns, wealth statement

Sep 27

Taxation

FBR issues instructions for filing income tax returns, wealth statement

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued manual for filing income tax return and wealth statement for tax year 2019. The FBR issued SRO 1160(I)/2019 dated September 27, 2019 to notify instructions for filing annual income returns and wealth statement. The FBR also issued manual paper return forms for individuals. The form has […]

by Mrs. Anjum Shahnawaz

Share market gains 637 points on major buying activities

Sep 27

Stock & Commodity

Share market gains 637 points on major buying activities

KARACHI: The share market gained 637 points on Friday owing to significant buying activities during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,071 points as against 31,434 points showing an increase of 637 points (+2 percent DoD). Analysts at Arif Habib Limited said that the market opened on a […]

by Mrs. Anjum Shahnawaz

FBR to launch new audit framework next week: Shabbar Zaidi

Sep 27

Taxation

FBR to launch new audit framework next week: Shabbar Zaidi

Syed Shabbar Zaidi, Chairman of the Federal Board of Revenue (FBR), revealed on Friday that a new audit framework is set to be introduced next week, aiming to streamline tax procedures and enhance ease of compliance for taxpayers.

by Mrs. Anjum Shahnawaz

Rupee gains one paisa amid higher dollar demand

Sep 27

Money & Banking

Rupee gains one paisa amid higher dollar demand

KARACHI: The rupee gained one paisa against dollar on Friday amid higher demand for import and corporate payments. The rupee ended Rs156.18 to the dollar from previous day’s closing of Rs156.19 in interbank foreign exchange market. Currency dealers said that due to next weekly holidays the demand of dollar was higher for import and corporate […]

by Mrs. Anjum Shahnawaz

Inland Revenue offices to remain open on September 28

Sep 27

Taxation

Inland Revenue offices to remain open on September 28

Islamabad, September 27, 2019 – The Federal Board of Revenue (FBR) has announced that the offices of Inland Revenue will remain open on Saturday, September 28, 2019.

by Mrs. Anjum Shahnawaz