Probe launched into amnesty scheme cases

ISLAMABAD: The Federal Tax Ombudsman (FTO) has launched investigation of over 12,000 pending cases of aggrieved taxpayers who could not avail Assets Declaration Scheme 2019 despite payment of due taxes before the... Read more »

FPCCI demands elimination of discretionary powers of tax officials

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded withdrawal of discretionary powers of tax officials including multiple selection of audit and entering business premises. Mian Anjum Nisar, President... Read more »

SBP allows banks to open selected branches on May 27

KARACHI: State Bank of Pakistan (SBP) allowed banks to open their selected branches on May 27, 2020 in order to facilitate pubic. The central bank on Wednesday said that in order to... Read more »

Stock market sheds 226 points on profit booking

KARACHI: The stock market fell by 226 points on Wednesday as the market witnessed profit booking across the board ahead of Eid holidays. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX)... Read more »

Bank holidays for Eid-ul-Fitr announced

KARACHI: Banks shall remain closed during May 22 – 27, 2020 (Friday to Wednesday) on the occasion of Eid ul Fitr. In an official note on Wednesday issued by State Bank of... Read more »

Rupee eases against dollar as payment demand persists

KARACHI: The Pak Rupee eased by three paisas against dollar on Wednesday as high demand remained persist for import payment. The rupee closed at Rs160.77 to the dollar from previous day’s closing... Read more »

Pakistan Business Council urges Sindh to reopen industries

KARACHI: Pakistan Business Council (PBC) has urged Sindh government to allow industries to reopen with surety of safety compliance to prevent coronavirus. In a letter to Sindh Chief Minister on Wednesday, PBC... Read more »

NCCPL announces CGT collection on May 29

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday announced that Capital Gain Tax (CGT) for April 2020 will be collected on May 29, 2020. The NCCPL said that the aggregate... Read more »

SBP tightens remittances reporting system

KARACHI: State Bank of Pakistan (SBP) on Wednesday tightened reporting of monthly foreign exchange return submitted by banks. The SBP said that it had been observed that authorized dealers (banks) report country... Read more »

SBP allows reimbursement claims for payment of wages, salaries

KARACHI: State Bank of Pakistan (SBP) on Tuesday decided to allow reimbursement claims for those business concerns, which paid wages and salaries through own resources. The central bank through a notification on... Read more »