FBR notifies promotion of 49 IRS officers to BS-19

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified promotion of 49 officers of Inland Revenue Service (IRS) to BS-19 with immediate effect. The FBR notified promotion of 41 officers from BS-18... Read more »

FBR promotes 14 customs officers to BS-19

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday announced promotion of 14 officers of Pakistan Customs Service (PCS) from BS-18 to the post of Additional Collectors BS-19 on regular basis with immediate... Read more »

Foreign exchange reserves up by $70 million

KARACHI: The foreign exchange reserves of the country have increased by $70 million to $16.775 billion by week ended June 12, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign... Read more »

Stocks plummet by 309 points on lockdown, political uncertainty

KARACHI: The stock market fell by 309 points on Thursday due to political uncertainty and imposition of smart lockdown in various parts of the country. The benchmark KSE-100 index of Pakistan Stock... Read more »

Dollar rises to Rs166.35 on higher import, corporate payments

KARACHI: The Pak Rupee depreciated by further 64 paisas to the dollar on Wednesday owing to higher demand of the foreign currency for import and corporate payments. The rupee ended at Rs166.35... Read more »

Reduction in rental income expense limit to encourage under-reporting

Presently, expenses incurred to the extent of 6 percent of rent chargeable wholly and exclusively for deriving rent are admissible as deduction against rental income. The Bill proposed to reduce the limit... Read more »

PRA empowered to arrest tax defaulters, imprison for six months

LAHORE: Punjab Revenue Authority (PRA) has been empowered to arrest defaulters and imprison for six months for making recovery of outstanding tax. The Punjab Finance Bill, 2020 has proposed to empower PRA... Read more »

Punjab enlists records to be maintained by taxpayers

LAHORE: The service providers falling under the jurisdiction of Punjab Revenue Authority (PRA) are required to maintain records enlisted through provincial Finance Bill, 2020. According to interpretation of Punjab Finance Bill 2020... Read more »

ECC extends SBP’s refinance scheme with additional benefits

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved extension to the refinancing scheme of the State Bank of Pakistan (SBP) up to September 30, 2020 from June 30,... Read more »