COVID levy on wealth of individuals, AOPs under consideration

ISLAMABAD: In order to generate revenue in the wake of coronavirus pandemic the government is considering to impose COVID levy, which may be on the wealth of individuals and Association of Persons (AOPs), sources said. The sources said that the levy may be collected up to one percent of Rs100 million wealth declared by individuals […]

by Mrs. Anjum Shahnawaz

Weekly Review: stock market to move with budget expectations

Jun 6

Stock & Commodity

Weekly Review: stock market to move with budget expectations

KARACHI: The stock market likely to move with the news flows related to budget 2020/2021 which is scheduled to announce on June 12, 2020. Analysts at Arif Habib Limited said that with Federal Budget announcement scheduled for June 12, 2020, the market is expected to track budget related news flow. Whereas market performance for June […]

by Mrs. Anjum Shahnawaz

FBR starts payment of income tax refunds

Jun 6

Taxation

FBR starts payment of income tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) on Friday started payment of income tax refunds directly to the bank accounts of those taxpayers who have provided their IBAN. FBR sources said that the FBR had received Rs10 billion from the finance division for the payment of income tax refunds. The FBR issued cumulative up to Rs5 […]

by Mrs. Anjum Shahnawaz

FBR urged to allow tax holiday on import of industrial raw material

Jun 6

Budget 2020-2021, Trade & Industry

FBR urged to allow tax holiday on import of industrial raw material

KARACHI: Federal Board of Revenue (FBR) has been urged to allow tax holiday to import of industrial raw material in order to help the country to fetch much needed foreign exchange through enhanced exports. Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2020/2021 submitted to the FBR, said that Pakistan’s exports […]

by Mrs. Anjum Shahnawaz