KARACHI: The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows, State Bank of Pakistan (SBP) said on Thursday. The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with […]
KARACHI: The Pak Rupee recovered 10 paisas against dollar on Thursday after ease in demand for import payments and report of improved export receipts. The rupee ended Rs168.13 to the dollar from previous day’s closing of Rs168.23 in interbank foreign exchange market. Currency experts said that improved inflows of export receipts and remittances helped the […]
KARACHI: The State Bank of Pakistan (SBP) on Thursday introduced a separate category of foreign currency account for non-resident and resident Pakistanis, who have assets abroad and declared with the tax authorities. The SBP in a circular said that in order to facilitate the non-resident Pakistanis as well as resident Pakistanis, who have assets abroad […]
ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on payments for goods and services during tax year 2021. The FBR updated withholding tax card 2020-2021 after incorporating amendments made to Income Tax Ordinance, 2001 through Finance Act, 2020. Under Section 153 of Income Tax Ordinance, 2001 every prescribed person shall collect withholding […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued draft rules to make indemnity bond mandatory for shipping lines intending to use facility of international transshipment cargo within Pakistani sea ports. The FBR issued draft rules through SRO 685(I)/2020 to amend Customs Rules, 2001. According to the draft rules, shipping lines intending to use the […]