FBR extends date to submit stock position up to March 15 for claiming refunds

ISLAMABAD: Federal Board of Revenue (FBR) has allowed taxpayers to submit their stock position for the period July – September 2019 up to March 15, 2020 in order to claim sales tax refunds under newly only verification and issuance system. In an official memorandum issued on Thursday, the FBR condoned the time limit for filing […]

by Mrs. Anjum Shahnawaz

Pakistan’s forex reserves increase by $91 million

Feb 13

Finance

Pakistan’s forex reserves increase by $91 million

KARACHI: Pakistan’s liquid foreign exchange reserves have increased by $91 million to $18.735 billion by week ended February 07, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves were at $18.644 billion by week ended January 31, 2020. The foreign exchange reserves of the central bank increased by $157 million to […]

by Mrs. Anjum Shahnawaz

Stock market ends down by 76 points on profit taking

Feb 13

Stock & Commodity

Stock market ends down by 76 points on profit taking

KARACHI: The stock market fell by 76 points on Thursday owing to profit taking after the market witnessed massive recovery during past two days. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,455 points as against 40,531 points showing a decline of 76 points. Analysts at Topline Securities said that the market […]

by Mrs. Anjum Shahnawaz

Feb 13

Money & Banking

Rupee ends flat in range bound trading

KARACHI: The Pak Rupee ended flat against dollar on Thursday owing to a range bound trading activity, dealers said. The rupee ended 154.38 to the dollar from previous day’s closing of Rs154.37 in interbank foreign exchange market. The dealers said that the market witnessed lackluster demand for dollars from importers and corporate buyers. Further, the […]

by Mrs. Anjum Shahnawaz

Values of immovable properties may be enhanced to prevent money laundering

Feb 13

Taxation

Values of immovable properties may be enhanced to prevent money laundering

KARACHI: Federal Board of Revenue (FBR) may increase valuation of immovable properties in order to prevent money laundering in the real estate sector. “In Pakistan the Real Estate sector is one of the biggest sources of money laundering and is used as a parking lot for untaxed as well as ill-gotten money,” the FBR said […]

by Mrs. Anjum Shahnawaz

FBR may obtain sales tax record of past six-years

Feb 13

Taxation

FBR may obtain sales tax record of past six-years

ISLAMABAD: Federal Board of Revenue (FBR) may ask certain taxpayers to provide past six years record of their sales for examination, sources said. The sources said that the tax offices may conduct audit of sales tax of many taxpayers in order to meet revenue collection target for current fiscal year. The sources said that under […]

by Mrs. Anjum Shahnawaz