Nov 29

Stock market gains 581 points despite buying activities

KARACHI: The stock market gained 581 points on Friday despite buying activities in major scrips. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,288 points as against 38,706 points showing an increase of 581 points. Analysts at Arif Habib Limited said that the aarket went up again by +746 points during today’s […]

by Mrs. Anjum Shahnawaz

FBR auditor awarded dismissal from service for availing NAB plea bargain

Nov 29

Taxation

FBR auditor awarded dismissal from service for availing NAB plea bargain

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty on a senior auditor (BS-18) for making money through corruption and avail plea bargain of National Accountability Bureau (NAB). In a notification issued on Friday, the FBR said that Ali Akbar Tunio, Assistant Director (Audit) ( BS-18), Regional Tax Office-II, Karachi had availed the benefits […]

by Mrs. Anjum Shahnawaz

Rupee makes gain against dollar on inflows

Nov 29

Money & Banking

Rupee makes gain against dollar on inflows

KARACHI: The Pak Rupee gained against dollar on Friday owing to improved inflows of export receipts and workers’ remittances. The rupee ended Rs155.24 to the dollar from previous day’s closing of Rs155.33 in interbank foreign exchange market. Currency dealers said that the rupee made early day gain and maintained the values in the remaining sessions. […]

by Mrs. Anjum Shahnawaz

FBR publishes valuation rulings to facilitate trade

Nov 29

Pakistan Customs

FBR publishes valuation rulings to facilitate trade

KARACHI: Federal Board of Revenue (FBR) on Thursday published customs valuations on its official portal to facilitate trade and for ease of doing business. A day earlier FBR Chairman directed the authorities to ensure availability of valuation rulings in order to trade facilitation and ease of doing business. The FBR published following valuation rulings at […]

by Mrs. Anjum Shahnawaz

Listing of TPL Trakker announced through IPO

Nov 29

Corporate, IT & Telecom

Listing of TPL Trakker announced through IPO

KARACHI: TPL Corp on Friday formally announced the listing of its subsidiary TPL Trakker Limited at Pakistan Stock Exchange (PSX) through an Initial Public Offering (IPO). In a notice to PSX, the company said that the board of directors of TPL Trakker Limited (TPLT), a wholly owned subsidiary of TPL Corp Limited, had accorded its […]

by Mrs. Anjum Shahnawaz

FBR may extend return filing date further to facilitate taxpayers

Nov 29

Taxation

FBR may extend return filing date further to facilitate taxpayers

ISLAMABAD: Federal Board of Revenue (FBR) may further extend the last date for filing income tax returns for tax year 2019 beyond November 30, 2019 as large number of filing is still pending. The last date for filing income tax returns is expiring on November 30, 2019. The actual last date for filing income tax […]

by Mrs. Anjum Shahnawaz

Rupee gains nine paisas in early day trading

Nov 29

Money & Banking

Rupee gains nine paisas in early day trading

KARACHI: The Pak Ruee gained nine paisas against dollar in early trade on Friday owing to sufficient inflows in the market. The exchange rate was witnessed at Rs155.24 to the dollar in early trade. The last day’s closed was recorded at Rs155.33 to the dollar in interbank foreign exchange market. Currency dealers said that the […]

by Mrs. Anjum Shahnawaz

Cash gifts received without banking channel chargeable to tax

Nov 29

Taxation

Cash gifts received without banking channel chargeable to tax

ISLAMABAD: Any cash gift received by a person other than banking channel will be treated as chargeable to tax, sources in Federal Board of Revenue (FBR) said on Thursday. The sources said that in the past people were taking advantage of incentives granted on gifts and concealed their income to evade taxes. However, the change […]

by Mrs. Anjum Shahnawaz

ECC approves increase in wheat support price

Nov 28

Finance

ECC approves increase in wheat support price

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the minimum support price of wheat to Rs1365 per 40 kilograms from Rs1350. The ECC, which was chaired by Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance and Revenue, on Thursday approved the minimum support price of wheat from the previously announced […]

by Mrs. Anjum Shahnawaz

FBR decides to publish customs valuation rulings

Nov 28

Pakistan Customs

FBR decides to publish customs valuation rulings

ISLAMABAD: Federal Board of Revenue (FBR) has decided to publish all prevailing valuation rulings to its official website in order to make customs clearance transparent and ease of doing business. The FBR in a statement on Thursday said that the chairman Syed Shabbar Zaidi, had issued special instructions to publish all Customs Valuation Rulings on […]

by Mrs. Anjum Shahnawaz