ISLAMABAD: Federal Board of Revenue (FBR) has integrated 5,783 Point of Sales (POS) of 286 retailers so far with the hectic efforts of field formation, FBR spokesman said on Thursday. The spokesman said that the system had been made fully functional. The entries made through POS have been directly received by the FBR through online […]
KARACHI: The Sindh government has exempted sales tax on services provided or rendered to low cost housing projects funded by the federal government or Sindh government. Sindh Revenue Board (SRB) issued notification No. 3-4/04/2020 dated January 21, 2020. According to the notification: “construction relating to such of the low cost affordable public housing projects as […]
ISLAMABAD: Federal Board of Revenue (FBR) has invited suggestions from business community and other stakeholders for elimination of tax exemption and concessions. The FBR on Thursday issued a notification for inviting income tax proposals for budget 2020/2021. The FBR invited proposals from the stakeholders for phasing out tax concessions and exemptions. It said that the […]
KARACHI: The liquid foreign exchange reserves of the country increased by $91 million to $18.362 billion by week ended January 24, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at Rs18.271 billion a week ago. The reserves held by the central bank increased by $184 million […]
KARACHI: The stock market ended flat on Thursday amid mixed trading sessions, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,903 points as against 41,899 points showing an increase of 5 points. Analysts at Arif Habib Limited said that the market dipped again by 351 points during the session, but […]
KARACHI: The Pak Rupee gained 10 paisas against dollar on Thursday owing to improved supply of the foreign currency, dealers said. The rupee ended Rs154.47 to the dollar from previous day’s closing of Rs154.57 in interbank foreign exchange market. The currency dealers said that improved supply of the greenback in the shape of export receipts […]
KARACHI: Colgate-Palmolive (Pakistan) Limited has announced 36 percent growth in net income to Rs2.3 billion for six months period ended December 31, 2019. According to financial results for the period submitted to the Pakistan Stock Exchange (PSX) on Thursday, the company declared comprehensive income for the period to Rs2.3 billion as against Rs1.69 billion in […]
KARACHI: Federal Board of Revenue (FBR) has directed customs authorities to provide details of commercial importers who made clearance during first half of current fiscal year. The FBR sources on Thursday said that the collector of customs is required to collect income advance tax at the rate specified as withholding agent from commercial importers. Under […]
ISLAMABAD: The government has made mandatory for investors of National Saving Schemes (NSS) to explain source of income and annual income. The government has notified National Savings Schemes (AML and CFT) Rules, 2019 in order to comply with recommendations of Financial Action Task Force (FATF). Previously, the draft of rules was notified on December 19, […]
KARACHI: Karachi Tax Bar Association (KTBA) has highlighted impediments face by taxpayers in claiming input sales tax adjustment. The KTBA in a letter to Federal Board of Revenue (FBR) on Wednesday said that after introduction of STRIVe, there have arisen certain practical impediments at the time of filing sales tax returns to avail the exclusion […]