The Regional Tax Office (RTO)-II Karachi has reported a remarkable surge in tax collection from property income during the first eight months (July-February) of the current fiscal year, marking a significant increase of 68 percent.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced that it will promote officers of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) from BS-18 to BS-19. In an office memorandum, the FBR said that the meeting of Departmental Selection Board (DSB) for promotion from BS-18 to BS-19 is being convened shortly. Therefore, the […]
KARACHI: The workers’ remittances received during July – February 2019/2020 amounted to $15.126 billion recording an increase $770.7 million or 5.4 percent over remittances received during July – February FY19 ($ 14,355.8 million), State Bank of Pakistan (SBP) said on Tuesday. Workers’ remittances during February 2020 amounted to $ 1,824.3 million recording a decrease of […]
KARACHI: Karachi Tax Bar Association (KTBA) on Tuesday highlighted issues faced by taxpayers in obtaining exemption against import of raw material and plant and machinery. The KTBA in a letter to Member Inland Revenue (Operations), Federal Board of Revenue (FBR) highlighted the issues being faced by taxpayers while claiming exemption from income tax deduction on […]
KARACHI: The stock market rebounded on Tuesday after massive losses a day earlier on world oil price fall and coronavirus fear. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,696 points as against 37,059 points showing an increase of 637 points. Analysts at Arif Habib Limited said that the market rebounded today […]
KARACHI: The Pak Rupee fell by 87 paisas against dollar on Tuesday amid recovery in stock markets. The rupee closed at Rs157.45 to the dollar from previous day’s close of Rs156.58 in interbank foreign exchange market. The local unit witnessed Rs3.20 decline during past two days against the dollar. Currency dealers said that the currency […]
KARACHI: Pakistan Stock Exchange (PSX) has evolved strategy to remain operational in case of any lockdown due to coronavirus, Farrukh Khan, Chief Executive Officer (CEO) of PSX said on Tuesday. He was talking with the media at an event organized at the PSX for women empowerment. “We have made efforts. IT teams and other business […]
KARACHI: Philip Morris Pakistan, the leading cigarette manufacturer in the country, has declared after tax loss of around Rs2 billion for year ended December 31, 2019. The losses have been mainly attributed to Rs2.44 billion operating losses, the company said on Monday. Philip Morris Pakistan is a Pakistani tobacco manufacturing company, which is a subsidiary […]
KARACHI: Sindh Revenue Board (SRB) has suspended registration of 18 construction companies for defaulting tax payments and failure to file monthly sales tax returns. The SRB has directed the companies to make compliance with the provincial tax laws by March 12, 2020 otherwise their cases would be proceeded for cancellation. Following companies have been suspended […]
KARACHI: The Pak Rupee witnessed significant decline at the opening of trade on Tuesday. The rupee lost Rs1.17 paisas against dollar in early trade, dealers said. The dollar is being traded atRs157.75 to the dollar from last day’s closing of Rs156.58 in interbank foreign exchange market. Currency experts said that the massive losses in world […]