In a move to enhance transparency and accountability, the Federal Board of Revenue (FBR) has implemented stringent regulations requiring professionals such as doctors, lawyers, and accountants to maintain meticulous records of payments received from clients or patients for income tax purposes.
Karachi /Dubai: Emirates Airline has appointed Mohammad Sarhan as its new Vice President for Pakistan. This is part of the airline’s management rotation and positions it to better serve customer needs and respond with agility to market dynamics, a statement said on Tuesday. Mohammad Sarhan, Vice President Pakistan said: “Pakistan and Emirates have a special […]
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has signed Memorandums of Understanding (MOU) with five leading universities to promote financial literacy among youths. SECP’s Commissioner Investor Education Department, Shaukat Hussain inked the MoUs, said a statement on Tuesday. While universities were represented by their respective Vice Chancellors, Registrars and Directors. These HEC recognized […]
KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued instruction to banks and exchange companies related to foreign currency loan by private sector. A circular issued by the central bank said that the chapter 19 of Foreign Exchange Manual 2019 contained that it is required to register all foreign currency (FCY) loans, above USD […]
KARACHI: The inflows of foreign investment registered unprecedented growth to $2 billion during first five months (July – November) of 2019/2020 owing to significant investment in debt securities. According to data of foreign investment in Pakistan by State Bank of Pakistan (SBP) on Tuesday, the total investment increased to $2 billion during first five months […]
KARACHI: The equity market gained 124 points on Tuesday amid decisions of the apex court and repots of gas tariff hike. The benchmark KSE-100 index of Pakistan Stock Exchange (PSC) closed at 41,769 points as against 41,645 points showing an increase of 124 points. Analysts at Arif Habib Limited said that the market saw wide […]
KARACHI: The Pak Rupee recovered six paisas against dollar on Tuesday owing to inflows of exports and remittances, dealers said. The rupee ended Rs154.95 against dollar from previous day’s closing of Rs155.01 in interbank foreign exchange market. The dealers said that the rupee was under pressure earlier in the day due to demand for import […]
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s Pak Tractors for defaulting tax payment and failure to comply with return filing. In a notice for suspension of registration, the SRB said that M/s. Pak Tractors failed to make the payment of Sindh Sales Tax on Service to the tune of Rs3.45 […]
KARACHI: Persons / companies can avail amnesty scheme 2019 by paying 20 percent default surcharge by December 31, 2019 subject to declaration filed by due date. Officials at Federal Board of Revenue (FBR) said that the scheme was promulgated through presidential ordinance on May 14, 2019 to allow the non-documented economy’s inclusion in the taxation […]
ISLAMABAD: The income tax rules has described the procedure for a person to get registered as an informer with Federal Board of Revenue (FBR) in order to provide information of tax evasion and get reward as per law. The tax officials said that Income Tax Rules, 2002 has explained the criteria for a person to […]