KARACHI: Sindh Revenue Board (SRB) has extended date for payment and filing sales tax return for the month of May 2020. The SRB issued a notification extending the last date for e-deposit of Sindh sales tax for the tax period May 2020 and for e-filing of tax return for the tax period May 2020. The […]
ISLAMABAD: Customs authorities have been barred from auction of confiscated cigarettes without printed health warning. The Federal Board of Revenue (FBR) on Tuesday issued draft amendment to Customs Rules 2001. In this regard SRO 554(I)/2020 has been issued to invite comments from stakeholders. The FBR proposed amendment to sub-rule (3) of rule 58 of Customs […]
KARACHI: The stock market gained 315 points on Tuesday amid thin volumes because of fiscal year end. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,053 points as against 33,738 points showing an increase of +315 points. Analysts at Arif Habib Limited said that the market followed the momentum made yesterday. Traded […]
KARACHI: The Pak Rupee fell Rs1.06 against dollar on Tuesday owing to higher import and corporate demand. The rupee ended Rs167.65 to the dollar from previous day’s closing of Rs166.59 in interbank foreign exchange market. Currency experts said that the rupee was under pressure due to high demand for corporate and import payments. They said […]
KARACHI: Sindh government has exempted sales tax on services provided by life insurance companies for full fiscal year i.e. July 01, 2019 to June 30, 2020. Sindh Revenue Board (SRB) issued notification No. SRB-3-4/13/2020 dated June 22, 2020 stated that the Sindh government had granted exemption to the life insurance services (other than its related […]
KARACHI: A Germany based development finance institution has shown interest to acquire 20 percent stake in TPL Insurance Limited, a statement said on Tuesday. According to an announcement on Pakistan Stock Exchange (PSX), TPL Insurance Limited (“the Company”), a subsidiary of TPL Corp Limited, is pleased to announce that DEG – Deutsche Investitions- und Entwicklungsgesellschaft […]
KARACHI: Business community has criticized the government for eliminating condition of conducting audit once in three-year period. Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted anomalies in the Finance Bill 2020, sent to the Federal Board of Revenue (FBR) and said that omission of the condition would burden the taxpayers and would give sweeping […]
KARACHI: Foreign investors have raised concerns over the proposed tax rates on import of raw materials. Overseas Chamber of Commerce and Industry (OICCI), which is represented of foreign investors and multinational companies in Pakistan, highlighted anomalies in the Finance Bill 2020 and proposed rectifications. The OICCI said that the reduction in rate of income tax […]