Input tax credit against services provided by non-resident available with conditions: SRB

KARACHI: Sindh Revenue Board (SRB) on Friday said that input tax credit for resident taxpayers receiving services from resident outside is available with certain condition. The provincial revenue body said that the SRB-registered service recipients who receive taxable services from a foreign service provider (not registered with SRB) shall be entitled to claim input tax […]

by Mrs. Anjum Shahnawaz

Stock market witnesses range bound session

Jul 10

Stock & Commodity

Stock market witnesses range bound session

KARACHI: The stock market gained 48 points on Thursday as range bound session was observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 36,190 points as against previous day’s closing of 36,142 points, showing an increase of 48 points. Analysts at Topline Securities said that range bound session was […]

by Mrs. Anjum Shahnawaz

SBP notifies amendments to consumer financing regulations

Jul 10

Money & Banking

SBP notifies amendments to consumer financing regulations

KARACHI: State Bank of Pakistan (SBP) on Friday notified amendment in the Regulation R-4 of Prudential Regulations for Consumer Financing. Following are the amendments notified by the central bank: REGULATION R-4: GENERAL PROVISION AGAINST CONSUMER FINANCE The term “general reserve” used in the Regulation R-4 of Prudential Regulations for Consumer Financing shall henceforth be read […]

by Mrs. Anjum Shahnawaz

Industry rejects cut in gas supply; terms anti-business move

Jul 10

Trade & Industry

Industry rejects cut in gas supply; terms anti-business move

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday strongly rejected the cut in gas supply for industrial consumers and CNG stations. Chairman Businessmen Group (BMG) and Former President KCCI Siraj Kassam Teli and President (KCCI) Agha Shahab Ahmed Khan, while totally rejecting SSGC’s load shedding schedule for Industrial Consumers and CNG Stations, stated […]

by Mrs. Anjum Shahnawaz

SBP issues revised features of PM’s youth business loan

Jul 10

Money & Banking

SBP issues revised features of PM’s youth business loan

KARACHI: State Bank of Pakistan (SBP) on Friday issued revised features of Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme. The SBP said that the government had approved revision in key features of loan program under Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme. The revised features of the scheme as approved by the government are reproduced […]

by Mrs. Anjum Shahnawaz

Rupee gains 23 paisas against dollar on improved inflows

Jul 10

Money & Banking

Rupee gains 23 paisas against dollar on improved inflows

KARACHI: The Pak Rupee strengthened by 23 paisas against dollar on Friday owing to better inflows and improved foreign exchange reserves of the country. The rupee ended 166.35 to the dollar from previous day’s closing of Rs166.58 in interbank foreign exchange market. Currency experts said that the improved foreign inflows helped the helped the rupee […]

by Mrs. Anjum Shahnawaz

FBR issues draft rules for allowing reduced income tax rate on import of raw materials

Jul 10

Taxation

FBR issues draft rules for allowing reduced income tax rate on import of raw materials

ISLAMABAD: Federal Board of Revenue (FBR) has issued draft rules for grant of concessional tax rate on import of raw materials and capital goods by manufacturers and exporters. The FBR issued SRO 615(I)/2020 on Thursday for making amendment to Income Tax Rules, 2002. The draft rules have been issued to implement the Twelfth Schedule introduced […]

by Mrs. Anjum Shahnawaz