FBR sacks senior auditor for availing plea bargain benefit

Oct 11

Taxation

FBR sacks senior auditor for availing plea bargain benefit

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed major penalty of ‘dismissal from service’ upon a senior auditor for availing plea bargain benefit in corruption case. The FBR on Friday said that Kashif Naseer, Senior Auditor, BS-16 posted at Corporate Regional Tax Office, Lahore had availed the benefits of plea bargain in terms of […]

by Mrs. Anjum Shahnawaz

SECP registration reaches to 105,407 companies

Oct 11

Corporate, Finance

SECP registration reaches to 105,407 companies

ISLAMABAD: The total number of registered companies with Securities and Exchange Commission of Pakistan (SECP) has topped at 105,407 with addition of 1,392 new companies in September 2019, according to a statement issued on Friday. The SECP registered a total 1,392 new companies in September 2019, raising the total number of incorporated companies to 105,407. […]

by Mrs. Anjum Shahnawaz

Stock market gains 448 points on positive expectations of FATF meeting

Oct 11

Stock & Commodity

Stock market gains 448 points on positive expectations of FATF meeting

KARACHI: The stock market gained 448 points on Friday on expectations of positive outcome of FATF meeting. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 34,476 points as against 34,028 points showing an increase of 448 points. Analysts at Arif Habib Limited said that the market continued the uptrend today, expecting positive outcome […]

by Mrs. Anjum Shahnawaz

Significant decline in import bill sharply narrows trade deficit by 35 percent in first quarter

Oct 11

Finance

Significant decline in import bill sharply narrows trade deficit by 35 percent in first quarter

ISLAMABAD: Significant decline in import bill helped to sharply narrow the trade deficit by 35 percent during first quarter of current fiscal year, according to data released Pakistan Bureau of Statistics (PBS) on Friday. The trade deficit narrowed by 35 percent to $5.72 billion during July – September 2019 of current fiscal year as compared […]

by Mrs. Anjum Shahnawaz

Ufone, Habib Bank sign agreement for trade financing in Chinese currency

Oct 11

IT & Telecom, Money & Banking

Ufone, Habib Bank sign agreement for trade financing in Chinese currency

KARACHI: Pak Telecom Mobile Limited – Ufone and Habib Bank Limited (HBL) have signed a landmark agreement, through which HBL has extended a bilateral Trade Finance in Chinese Yuan (RMB/CNY) for the import of cellular network equipment through Huawei Technologies Co Ltd, a statement said on Friday. The Landmark agreement is part of one of […]

by Mrs. Anjum Shahnawaz

Rupee gains 11 paisas on inflows of export receipts

Oct 11

Money & Banking

Rupee gains 11 paisas on inflows of export receipts

KARACHI: The Pak Rupee gained another 11 paisas against dollar on Friday owing to inflows of export receipts. The rupee ended Rs156.07 to the dollar from previous day’s closing of Rs156.18 in interbank foreign exchange market. Currency dealers said that the improved export receipts had helped the rupee to gain values against the greenback. Further, […]

by Mrs. Anjum Shahnawaz

FBR acquires information of motor vehicle purchasers

Oct 11

Taxation

FBR acquires information of motor vehicle purchasers

KARACHI: Federal Board of Revenue (FBR) has asked motor vehicle registration authorities and car manufacturers to provide information of persons, who are registration or purchasing motor vehicles. The FBR has advised motor vehicle registration authorities and manufacturers of motor vehicles to provide details of persons whose withholding tax was deducted under Section 231B at the […]

by Mrs. Anjum Shahnawaz

RTO-III Karachi to examine income of all salary persons of private sector

Oct 11

Taxation

RTO-III Karachi to examine income of all salary persons of private sector

KARACHI: Regional Tax Office (RTO) –III Karachi has been authorized to examine incomes all salary persons in private sector within the jurisdiction of Karachi division. The Federal Board of Revenue (FBR) issued revised jurisdiction order for RTO-III Karachi effective from October 03, 2019. The Zone-I of the regional tax office will have authority to exercise […]

by Mrs. Anjum Shahnawaz