The Karachi Stock Exchange (KSE) experienced an extraordinary surge in April 2020, recording an impressive increase of 4,880 points. This translates into a return of +16.7 percent Month-on-Month (MoM) and +21.5 percent in USD terms, marking the best-performing month since March 2009.
KARACHI: The Pak Rupee gained 26 paisas against dollar on Monday owing to inflows of IMF loan payment. The rupee ended Rs159.91 to the dollar from previous close of Rs160.17 on April 30, 2020. Currency experts said that the rupee appreciated due to inflows of IMF funds and decline in international oil prices. They said […]
KARACHI: Smuggling through Afghan Transit Trade has always been the biggest threat for economic growth and hardly any sector has been left untouched by this menace. Pakistan Business Council (PBC) in its proposals for budget 2020/2021 said that smuggled goods through the borders of Afghanistan, Iran China, India and the Afghan Transit Trade form a […]
KARACHI: Business community has suggested curtailing powers of tax officers while invoking provisions of sales tax laws.
ISLAMABAD: A meeting of think tank has decided to discuss reduction in sales tax with Federal Board of Revenue (FBR) to make part of proposals for budget 2020/2021. Advisor to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh chaired 3rd meeting of the Thinktank, here on Sunday to assess the emerging situation resulting […]
KARACHI: The Sindh government has allowed registration of properties from Monday May 04, 2020 with certain restriction to ensure compliance of lockdown to prevent spread of coronavirus. The provincial government has permitted Board of Revenue (BOR) to allow functioning / opening of the offices of sub-registrars in Karachi Division with effect from May 04, 2020 […]
KARACHI: The withholding tax rate should be enhanced to 10 percent for non-filer purchaser of immovable property in the budget 2020/2021. Pakistan Business Council (PBC) in its budget proposals 2020/2021 recommended to increase the rate of withholding tax for unregistered and non-filers of income tax returns. The PBC recommended that advance income tax is collected […]
KARACHI: Pakistan Business Council (PBC) has said that massive under-invoicing especially by commercial Importers is destroying domestic industry. In its budget proposals for fiscal year 2020/2021, the PBC said that across the board massive under invoicing and dumping of imported products has been increasing. Information regarding values at which various custom check posts clear import […]
KARACHI: Business community has proposed imposing one percent sales tax on every stage of supply chain of five export oriented sector without input adjustment. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in its budget proposals for fiscal year 2020/2021 said that Finance Act, 2019 abolished zero rating regime extended to five major export […]
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended introducing taxpayers’ bill of rights in the forthcoming budget. The apex trade body in its proposals for budget 2020/2021, said that the present situation of antagonism between the tax collection agencies and taxpayers needs to be reconciled through a democratic process and implementation […]