April 24, 2024

Pkrevenue.com

Pakistan Revenue

Day: June 12, 2020

Three FBR officers promoted to BS-22
Jun 12
Taxation

Three FBR officers promoted to BS-22

KARACHI: The establishment division on Friday notified promotion of three senior officials of Federal Board of Revenue (FBR) to BS-22 with immediate effect. According to notification issued by the FBR, two officers of Inland Revenue Service (IRS) and one officer of Pakistan Customs Service (PCS) have been promoted to BS-22 from BS-21. The government has […]

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Remittances fall by 18.6 percent in May 2020
Jun 12
Finance

Remittances fall by 18.6 percent in May 2020

KARACHI: The inflow of workers’ remittance has registered 18.6 percent decline in May 2020 due to job losses and closure of borders due to coronavirus. The inflow of workers’ remittances was at $429.2 million in May 2020 as compared with $2.3 billion in the same month of the last year, showing decline of 18.6 percent, […]

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Customs duty exempted on import of industrial raw material
Jun 12
Budget 2020-2021, Pakistan Customs

Customs duty exempted on import of industrial raw material

ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar announced to exempt customs duties on import of industrial raw material. While presenting the Budget 2020/2021, the minister highlighted the key points of changes brought to Customs Act, 1990 through Finance Bill, 2020. He said that the government had initiated customs tariff rationalization during the last […]

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Budget salient features related to Income Tax
Jun 12
Budget 2020-2021, Taxation

Budget salient features related to Income Tax

ISLAMABAD: Federal Board of Revenue (FBR) issued budget salient feature related to income tax presented through Finance Bill, 2020. INCOME TAX RELIEF MEASURES • Deletion of Withholding Taxes To augment efforts towards simplification of the withholding tax regime, the following withholding tax provisions are being deleted: Section 236R: Collection of advance tax on education related […]

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Rupee gains 35 paisas on inflows
Jun 12
Money & Banking

Rupee gains 35 paisas on inflows

KARACHI: The Pak Rupee gained 35 paisas against dollar on Friday owing to improved inflows of export receipts and remittances. The rupee ended Rs164.24 to the dollar from previous day’s closing of Rs164.59 in interbank foreign exchange market. The rupee gained the value after losing around Rs1.30 against dollar during past four trading days. Currency […]

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