Telecom services to pay 19.5 percent as per SRB working tariff

KARACHI: Sindh Revenue Board (SRB) issued working tariff updated up to December 31, 2019 under which the sales tax on services will be 19.5 percent on telecommunication services. Read more »

Pakistan’s foreign exchange reserves increase to $18.081 billion

KARACHI: The liquid foreign exchange reserves of the country increased by $486 million to $18.081 by week ended December 27, 2019 as compared with $17.595 billion a week ago, State Bank of... Read more »

Rupee eases on import, corporate demand

KARACHI: The Pak Rupee eased by three paisas on Thursday owing to higher import and corporate payments, dealers said. Read more »

Stock market gains 1,081 points on tax incentives for foreign investors

KARACHI: The stock market gained 1,081 points on Thursday owing to positive outcome of tax amendment ordinance promulgated a day earlier. Read more »

Commissioner empowered to cancel business license

ISLAMABAD: The commissioner of Inland Revenue has been empowered to cancel business license of person on violation of tax laws. Read more »

Tax amendments to generate great interest in govt securities: SBP

KARACHI: State Bank of Pakistan (SBP) on Thursday said that the tax amendment for foreign investors to generate great interest in government securities. In a statement the central bank said that the... Read more »

Tax Amendment Ordinance: minimum rate reduced to 0.5%

ISLAMABAD: The government has reduced the minimum tax rate to 0.5 percent from 1.5 percent for traders having turnover up to Rs100 million. Read more »

Tax Amendment Ordinance: advance income tax on mobile phone import reduced

ISLAMABAD: The government has reduced advance income tax on import of mobile phones through promulgation of presidential ordinance. Read more »

Tax Amendment Ordinance: manufacturers facilitated in exemption certificate issuance

ISLAMABAD: The government has facilitated manufacturers in obtaining exemption certificates for import of raw material. Read more »

Tax Amendment Ordinance: exemption, incentives announced for foreign investment in debt securities

ISLAMABAD: The government has announced a comprehensive package of tax incentive and exemptions to attract foreign investment into debt securities. Read more »

Tax Amendment Ordinance: consumer goods to be confiscated on failure to print retail price

ISLAMABAD: Tax officials have been empowered to confiscate goods where importer / manufacturer failed to mandatory print the retail price on consumer goods. Read more »

Tax Amendment Ordinance: revised sales tax rates on imported mobile phones

ISLAMABAD: The government has massively reduced sales tax on imported mobile phone valuing up to $100 to Rs200 from Rs1,320 through amendment to Sales Tax Act, 1990 through Tax Laws (Second Amendment)... Read more »