Three new slabs added for taxation on income from property

ISLAMABAD: Three additional slabs have been added to income from property in order to generate more revenue under this head, sources in Federal Board of Revenue (FBR) said on Friday. They said that in the last budget 2019/2020, effective from July 01, 2019, three additional slabs have been added to income from property in order […]

by Mrs. Anjum Shahnawaz

Jan 17

Stock & Commodity

PSX appoints FU Hao as non-executive director

KARACHI: Pakistan Stock Exchange (PSX) has appointed FU Hao, a representative of Shanghai Stock Exchange, as non-executive member on the board. In a communication the stock exchange informed that FU Hao, a representative of Shanghai Stock Exchange, has been appointed as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX) with immediate effect. […]

by Mrs. Anjum Shahnawaz

Stock market gains 103 points amid record inflows

Jan 17

Stock & Commodity

Stock market gains 103 points amid record inflows

KARACHI: The stock market increased by 103 points on Friday amid record foreign inflows in debt securities. Analysts at Arif Habib Limited said that the week ended nearly where it began, i.e. near 43,000 level. During the week, the index did slip towards 42800 but closed the week above 43,000. Among OMCs, PSO made an […]

by Mrs. Anjum Shahnawaz

Rupee gains nine paisas on foreign inflows in debt market

Jan 17

Money & Banking

Rupee gains nine paisas on foreign inflows in debt market

KARACHI: The Pak Rupee gained nine paisas against dollar on Friday owing to significant foreign inflows in debt market, dealers said. The rupee ended Rs154.57 to the dollar as compared with previous day’s closing of Rs154.66 in interbank foreign exchange market. The dealers said that the debt market witnessed record single day investment. The debt […]

by Mrs. Anjum Shahnawaz

Pakistan Customs assures eliminating import barriers

Jan 17

Trade & Industry

Pakistan Customs assures eliminating import barriers

KARACHI: Pakistan Customs has assured commercial importers of eliminating import barriers and improve facilitations through online system WeBOC. Dr. Mohammad Nadeem Memon, Collector of Customs, has assured to solve the problems facing the commercial importers at the import level and also provide all possible facilities. He was talking to a delegation called by Pakistan Chemicals […]

by Mrs. Anjum Shahnawaz

FBR processes refund claims with data errors under FASTER system

Jan 17

Taxation

FBR processes refund claims with data errors under FASTER system

KARACHI: Federal Board of Revenue (FBR) on Friday said it processed refund claims with data errors under Fully Automated Sales Tax e-Refund (FASTER) system. The FBR urged FASTER Refund claimants to file refund claims in sequence i.e. July 2019 and then August 2019 and so on. “Claims with data errors, rolled back and re-submitted claims […]

by Mrs. Anjum Shahnawaz

FBR issues list of 3,184 registered NPOs, NGOs

Jan 17

Taxation

FBR issues list of 3,184 registered NPOs, NGOs

ISLAMABAD: Federal Board of Revenue (FBR) issued a list of 3,184 Non-Profit Organizations (NPOs) and Non-Governmental Organization (NGOs) that are registered with the tax authorities. The income tax regime has been revised for NPOs and charitable organizations and tax credit shall be available to such organizations on filing of income tax returns. The FBR conducted […]

by Mrs. Anjum Shahnawaz

Sales tax rates on professional services issued

Jan 17

Taxation

Sales tax rates on professional services issued

KARACHI: Sindh Revenue Board (SRB) has issued amended working tariff for tax year 2020 under which the tax rate for rendering professional services shall be at 13 percent. The SRB also notified reduced rate for professional services with condition of not allowing input tax adjustment. According to SRB working tariff chart updated till December 31, […]

by Mrs. Anjum Shahnawaz