FBR, provincial authorities discuss single return filing portal

Jul 27

Taxation

FBR, provincial authorities discuss single return filing portal

ISLAMABAD: Federal Board of Revenue (FBR) has discussed with the provinces about common portal for single return filing, a statement said on Monday. At the meeting the tax authorities deliberated on ways to facilitate taxpayers under jurisdictions of the federal and the provincial authorities. Member IR Operations D. Muhammad Ashfaq Ahmed presided over the meeting. […]

by Mrs. Anjum Shahnawaz

Jul 27

Money & Banking

Bank holidays announced for Eid-ul-Adha

KARACHI: State Bank of Pakistan (SBP) on Monday said that the central bank will remain closed from July 31, 2020 to August 02, 2020 (Friday to Sunday) on occasion of Eid-ul-Adha. The commercial banks shall also observe the same holidays announced by the SBP on the occasion of Eid-ul-Adha.

by Mrs. Anjum Shahnawaz

Stock market gains 614 points on SBP’s decision for holding MPC meeting

Jul 27

Stock & Commodity

Stock market gains 614 points on SBP’s decision for holding MPC meeting

KARACHI: The stock market gained 614 points on Monday owing the decision of the central bank for not to hold regular meeting of monetary policy committee. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,221 points as against 37,608 points showing increase of 614 points. Analysts at Arif Habib Limited said that […]

by Mrs. Anjum Shahnawaz

Rupee gains 39 paisas on improved inflows

Jul 27

Money & Banking

Rupee gains 39 paisas on improved inflows

KARACHI: The Pak Rupee gained 39 paisas against dollar on Monday owing to sufficient inflows of workers remittances and export receipts. The rupee ended Rs166.87 to the dollar from last Friday’s closing of Rs167.26 in interbank foreign exchange market. Currency experts said that the inflows of workers remittances and export receipts were more than the […]

by Mrs. Anjum Shahnawaz

FBR empowered to send electronic notice, decisions to all sales tax registered persons

Jul 26

Taxation

FBR empowered to send electronic notice, decisions to all sales tax registered persons

KARACHI: Federal Board of Revenue (FBR) has been authorized to serve electronic notice and decision as legal document to sales tax registered persons. In this regard an amendment has been made to Section 56 of Sales Tax Act, 1990 through Finance Act, 2020. Prior to amendment the FBR was empowered to send electronically through email […]

by Mrs. Anjum Shahnawaz

Jul 26

Auction

Customs Anti-Smuggling announces auction of used vehicles on July 27

KARACHI: Anti-Smuggling Organization (ASO) of Pakistan Customs announced auction of used vehicles on July 27, 2020 at ASO Headquarter, NMB Wharf, Ghass Bandar, East Wharf, Karachi. Following vehicles to be presented for the auction: 01. Toyota Lexus Car, Reg No. UC-868, Model 2006, 3485CC, Chassis No. JTHBG 963905034702 02. Toyota Harrier Jeep, Reg. No. JAA-454, […]

by Mrs. Anjum Shahnawaz

FBR to get CNIC details of unregistered persons making purchases above Rs100,000

Jul 26

Taxation

FBR to get CNIC details of unregistered persons making purchases above Rs100,000

ISLAMABAD: Federal Board of Revenue (FBR) will get CNIC details of unregistered persons making purchases above Rs100,000 through monthly sales tax return for July 2020 to be filed by registered persons in August 2020. The registered persons are required to provide details of all those unregistered persons who made purchases above Rs100,000. The information of […]

by Mrs. Anjum Shahnawaz

FBR grants Rs2.42 billion as income tax concession to teachers, researchers

Jul 25

Taxation

FBR grants Rs2.42 billion as income tax concession to teachers, researchers

ISLAMABAD: Federal Board of Revenue (FBR) has granted tax concession to the tune of Rs2.42 billion on the income of teachers and researchers. The tax has been granted during the tax year 2019/2020. Officials at the FBR said that the tax concession was granted under reduction in tax rates. The officials said that another amount […]

by Mrs. Anjum Shahnawaz

Jul 25

Auction

FBR stops public auction of confiscated foreign origin cigarettes

ISLAMABAD: Federal Board of Revenue (FBR) has stopped public auction of foreign origin smuggled cigarettes as those goods do not comply with the national health regulations. In a statement issued on Saturday, the FBR clarified that the auction of confiscated smuggled cigarettes of foreign origin have been stopped which were earlier decided to hold by […]

by Mrs. Anjum Shahnawaz

Weekly Review: market likely maintain buoyancy

Jul 25

Stock & Commodity

Weekly Review: market likely maintain buoyancy

KARACHI: The stock market likely to maintain upward trend as many corporate entities set to declare better results. Analysts at Arif Habib said that with commencement of the result season certain sectors / scrips may come under limelight in the upcoming week. Although pre-Eid jitters cannot be ruled out amid profit-taking at current levels. However, […]

by Mrs. Anjum Shahnawaz