SBP imposes monetary penalty of Rs1.68 billion on 15 banks

KARACHI: State Bank of Pakistan (SBP) has imposed monetary penalty of Rs1.68 billion upon at least 15 commercial banks for violating various regulations including anti-money laundering (AML) and counter financing of terrorism... Read more »

Period for filing withholding tax statement reduced

ISLAMABAD: Withholding agents are required to file statement of deduction and collection on quarterly basis instead bi-annual. The change has been brought through Finance Act, 2020 by amending section 165 of the... Read more »

Weekly Review: stock market may maintain positive momentum

KARACHI: The stock market may maintain positive momentum during the next week owing to improvement sentiments and ease in cases related to COVID-19. Analysts at Arif Habib Limited expect the market to... Read more »

Pakistan makes substantial progress in completing remaining FATF Action Plan: Hafeez Shaikh

ISLAMABAD: Pakistan has made substantial progress towards completing remaining action plan of Financial Action Task Force (FATF) through increasing the effectiveness of its AML/ CFT Regime, Dr Abdul Hafeez Shaikh, Adviser to... Read more »

FBR promotes 29 officials to post of assistant private secretary

ISLAMABAD: Federal Board of Revenue (FBR) has notified promotions of 29 steno-typists (BS-14) to the post of Assistant Private Secretary (BS-16). In a notification issued on Friday (July 10) the FBR notified... Read more »

Customs auction of confiscated vehicles to be held on July 20 at Gwadar

KARACHI: Pakistan Customs announced auction of confiscated vehicles to be held on July 20, 2020 at Gwadar Custom House. Following vehicles to be presented for the auction: 01. Toyota Hilux Surf SSR-X,... Read more »

FBR empowered to recover income tax on sectoral benchmark basis

ISLAMABAD: The officials of Federal Board of Revenue (FBR) have been authorized to recover income tax on sectoral benchmark ratio basis where a taxpayer fails to provide record or required details. The... Read more »