Import of mobile phones surges by 106% to Rs96.33 billion in first half

KARACHI: Pakistan has imported mobile phones worth Rs96.33 billion, showing an increase of 106 percent during first half (July – December) of 2019/2020. According to data released by Pakistan Bureau of Statistics (PBS), the import of mobile phones increased to Rs96.33 billion during first half of current fiscal year as compared with Rs46.82 billion in […]

by Mrs. Anjum Shahnawaz

Draft return, wealth statement forms for traders finalized

Jan 19

Taxation

Draft return, wealth statement forms for traders finalized

ISLAMABAD: Federal Board of Revenue (FBR) has finalized simple income tax return and wealth statement for small traders, sources said on Sunday. The FBR has not issued officially the draft returns and wealth statement forms for traders but sources said that the draft had been finalized and would be issued soon. The draft income tax […]

by Mrs. Anjum Shahnawaz

Jan 19

Taxation

FBR starts phasing out final tax regime

ISLAMABAD: Federal Board of Revenue (FBR) has started phasing out final tax regime for an equitable taxation system. Sources in the FBR said on Saturday that in the budget 2019/2020 final tax regime had been withdrawn for various sectors, which were enjoying this regime for the past many years. The FBR in a report said […]

by Mrs. Anjum Shahnawaz

Experts suggest wheat import to discourage hoarding

Jan 19

National

Experts suggest wheat import to discourage hoarding

KARACHI: The government should allow the import of wheat in order to discourage hoarding and check price hikes in the local market, commodity experts said on Saturday. The prices of wheat flour witnessed a sharp increase during past couple of days. Interestingly, the wheat crop in the last season was surplus yet there is a […]

by Mrs. Anjum Shahnawaz

Jan 19

National

Immigration delays seven international flights at Lahore airport

KARACHI: At least seven international flights on Saturday witnessed delays at Lahore airport due to shortage of staff at immigration counter. Sources said that international passengers faced problems due to delay in clearance at immigration counters. The sources said that the delays caused due to shortage of staff at the counters. Long queues of passengers […]

by Mrs. Anjum Shahnawaz

Sales tax rate on services provided by property developers

Jan 19

Taxation

Sales tax rate on services provided by property developers

KARACHI: Sindh Revenue Board (SRB) has issued updated working tariff for tax year 2020 under which 13 percent sales tax is applicable on services rendered by property developers. According to the working tariff the tax rate shall be 13 percent on services provided or rendered by property developers or promoters for: a. development of purchased […]

by Hamza Shahnawaz