FBR advised tracing unregistered persons instead collecting further tax

KARACHI: Federal Board of Revenue (FBR) has been urged to trace unregistered persons instead collecting three percent further sales tax on local supplies. Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2020/2021 submitted to the FBR, said that through the Finance Act, 2013, FBR levied 1 percent further sales tax on […]

by Mrs. Anjum Shahnawaz

Equity market gains 386 points as banks attract investors

Jun 2

Stock & Commodity

Equity market gains 386 points as banks attract investors

KARACHI: The equity market gained 386 points on Tuesday as banking sector attracted attention of investors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,408 points as against 34,022 points showing an increase of +386 points. Analysts at Arif Habib Limited said that the market went up today on the back of […]

by Mrs. Anjum Shahnawaz

Rupee further weakens by 81 paisas against dollar

Jun 2

Money & Banking

Rupee further weakens by 81 paisas against dollar

KARACHI: The Pak Rupee further weakened by 81 paisas against dollar on Tuesday owing to higher demand for import and corporate payments, dealers said. The rupee closed at Rs164.89 to the dollar from last day’s closing of Rs164.08 in interbank foreign exchange market. The rupee depreciated by Rs1.79 against the dollar during last two days. […]

by Mrs. Anjum Shahnawaz

Honda Cars declares 82 percent decline in annual profit

Jun 2

Automotive, Corporate

Honda Cars declares 82 percent decline in annual profit

KARACHI: Honda Atlas Cars (Pakistan) Limited has posted 82 percent decline in annual profit for the period ended March 31, 2020, said a notification on Tuesday. The car manufacturing company declared Rs682 million profit after tax for the year ended March 31, 2020 as compared with Rs3.85 billion in the preceding year. The sales of […]

by Mrs. Anjum Shahnawaz

Above 120,000 income tax returns added to ATL during lockdown

Jun 2

Taxation

Above 120,000 income tax returns added to ATL during lockdown

ISLAMABAD: The tax authorities have received above 120,000 income tax returns since launch of new Active Taxpayers List (ATL) on March 01, 2020 and during ongoing lockdown to prevent spread of coronavirus, according to updated list issued June 01, 2020. The updated ATL for tax, around 120,000 taxpayers filed their annual returns for tax year […]

by Mrs. Anjum Shahnawaz

Sindh Revenue Board announces tax incentive package

Jun 2

Taxation

Sindh Revenue Board announces tax incentive package

KARACHI: Sindh Revenue Board (SRB) has announced tax incentive scheme and waived up to 100 percent penalty amount on payment of outstanding amount, said a statement on Monday. The SRB said that acceding to the request of the taxpayers, associations and tax bars, the provincial revenue authority, had issued tax incentive package, which provides substantial […]

by Mrs. Anjum Shahnawaz