Pakistan, China agree FTA 2nd phase to lead more trade, investment opportunities

ISLAMABAD: The leaders of Pakistan and China on Tuesday agreed that the implementation of the 2nd phase of China-Pakistan Free Trade Agreement (FTA) would lead to more trade, economic and investment opportunities between the two countries. Other areas of potential collaboration discussed between the two sides included railways, steel, oil and gas, industry and science […]

by Mrs. Anjum Shahnawaz

How taxpayers fail in filing returns by due date, KTBA questions FBR

Oct 8

Taxation

How taxpayers fail in filing returns by due date, KTBA questions FBR

KARACHI: A body of tax practitioners has questioned Federal Board of Revenue (FBR) that how taxpayers fail to file returns for tax year 2019 on September 30, 2019 when the tax authorities extend the date ahead of cutoff time. The Karachi Tax Bar Association (KTBA) in a letter to FBR chairman referring the Circular No. […]

by Mrs. Anjum Shahnawaz

Stock market ends down by 160 points amid positive sentiments

Oct 8

Stock & Commodity

Stock market ends down by 160 points amid positive sentiments

KARACHI: The stock market ended down by 160 points on Tuesday due to profit taking despite positive sentiments prevailed in the market. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,476 points as against 33,636 points showing a decline of 160 points. Analysts at Arif Habib Limited said that the market traded […]

by Mrs. Anjum Shahnawaz

Rupee ends down by five paisas in dull trading

Oct 8

Money & Banking

Rupee ends down by five paisas in dull trading

KARACHI: The Pak Rupee ended down by five paisas against dollar on Tuesday in dull trading activities in foreign currency market. The rupee ended Rs156.46 to the dollar from previous day’s closing of Rs156.41 in interbank foreign exchange market. Currency dealers said that the market activities were remained dull as the exchange rate was remained […]

by Mrs. Anjum Shahnawaz

Unregistered prize bonds worth Rs206 billion surrendered on discontinuation announcement

Oct 8

Money & Banking

Unregistered prize bonds worth Rs206 billion surrendered on discontinuation announcement

KARACHI: An amount of around Rs206 billion has been surrendered following the government announcement of discontinuation the circulation of unregistered prize bonds of Rs40,000 denomination. According to information received to PkRevenue.com, the total investment in unregistered Rs40,000 denomination prize bonds fell to Rs52.46 billion by August-end 2019 as compared with Rs258 billion in May 2019. […]

by Mrs. Anjum Shahnawaz

List of consumer items for 17 percent sales tax on retail price

Oct 8

Taxation

List of consumer items for 17 percent sales tax on retail price

KARACHI: The Federal Board of Revenue (FBR) has issued list of consumer items on which sales tax at the rate of 17 percent is chargeable on the basis of printed retail price. The FBR issued Sales Tax Act, 1990 updated till June 30, 2019 incorporating amendments brought through Finance Act, 2019. The FBR explained that […]

by Mrs. Anjum Shahnawaz