Aug 26

Rupee eases by six paisas on import, corporate payment demand

KARACHI: The Pak Rupee ended down by six paisas on Tuesday against dollar owing to higher demand for import and corporate payments. The rupee ended Rs168.43 to the dollar from previous day’s closing of Rs168.37 in interbank foreign exchange market. Currency experts said that demand from importers and corporate buyers were remained higher during the […]

by Mrs. Anjum Shahnawaz

Providing business outlets, brands made mandatory for sales tax return

Aug 26

Taxation

Providing business outlets, brands made mandatory for sales tax return

ISLAMABAD: Federal Board of Revenue (FBR) has amended sales tax rules in order to bring more businesses into the tax net. The FBR issued SRO 776(I)/2020 on Tuesday to amend Sales Tax Rules, 2006. Through the amendment the FBR explained that null return should be treated as a sales tax return which shows no data […]

by Mrs. Anjum Shahnawaz

CDC facilitates overseas Pakistanis to invest in stocks

Aug 25

Stock & Commodity

CDC facilitates overseas Pakistanis to invest in stocks

KARACHI: Central Depository Company of Pakistan Limited (CDC) to facilitate investment by Non-Resident Pakistanis in the Pakistan Stock Market through Roshan Digital Account with designated large-scale banks, said Badiuddin Akber, CEO-CDC. In a statement he further stated that Roshan Digital Account is a remarkable step taken by the State Bank of Pakistan (SBP) to facilitate […]

by Mrs. Anjum Shahnawaz

FBR directed to simplify income tax return form while considering various sectors

Aug 25

Taxation

FBR directed to simplify income tax return form while considering various sectors

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance and Revenue on Monday instructed Federal Board of Revenue (FBR) to simplify income tax return form while considering problems faced by various sectors of the economy. The advisor chaired an important meeting on FBR reforms. Abdul Razak Dawood, Advisor to Prime Minister on Commerce, […]

by Mrs. Anjum Shahnawaz

Aug 25

Taxation

FBR renames tax offices

ISLAMABAD: Federal Board of Revenue (FBR) on Monday renamed field offices while exercising powers under Section 4(1)(r) of FBR Act, 2007. The change of names shall take effect on September 01, 2020. According to an office order, the Large Taxpayers Unit (LTU) Karachi, Lahore and Islamabad will be renamed as Large Taxpayers Office (LTO) Karachi, […]

by Mrs. Anjum Shahnawaz

FBR transfers 74 customs officials of BS-16 to BS-18

Aug 25

Pakistan Customs

FBR transfers 74 customs officials of BS-16 to BS-18

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 74 officials of Pakistan Customs Service (PCS) in BS-16 to BS-18 with immediate effect until further orders. The FBR notified transfers and postings of following officials: 01. Tauqeer Ahmad Dar (Pakistan Customs Service/BS-18) has been transferred and posted as Deputy Director, Directorate […]

by Mrs. Anjum Shahnawaz

Banks fail to meet agri credit disbursement target

Aug 24

Money & Banking

Banks fail to meet agri credit disbursement target

KARACHI: Banks have missed agriculture credit disbursement target for fiscal year 2019/2020 by Rs135 billion but the credit disbursement was 3.5 percent higher than the preceding fiscal year, State Bank of Pakistan (SBP) said on Monday. The central bank in a statement said that the banks disbursed Rs 1,215 billion to agriculture sector during 2019-2020. […]

by Mrs. Anjum Shahnawaz

FBR notifies rules making mandatory for banks to share deposit, withdrawal details

Aug 24

Taxation

FBR notifies rules making mandatory for banks to share deposit, withdrawal details

ISLAMABAD: Federal Board of Revenue (FBR) on Monday made it mandatory for banks to provide details of transactions including deposits and withdrawals during a month. Besides, the banks are also required to provide information of transactions made through credit/debit cards and details of persons making profit on debt through banking deposits. The FBR issued SRO […]

by Mrs. Anjum Shahnawaz

Stock market gains 181 points in mixed trading activity

Aug 24

Stock & Commodity

Stock market gains 181 points in mixed trading activity

KARACHI: The stock market gained 181 points on Monday in mixed trading activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,802 points as against 39,622 points showing an increase of 181 points. Analysts at Arif Habib Limited said that the market opened on a positive note today and […]

by Mrs. Anjum Shahnawaz

FPCCI praises SBP for timely action to avert coronavirus impact

Aug 24

Trade & Industry

FPCCI praises SBP for timely action to avert coronavirus impact

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has praised State Bank of Pakistan (SBP) for timely action to minimize adverse impact of coronavirus on trade and industry, a statement said on Monday. “However, implementation of such measures is required to reach at the grass root level,” said Khurram Ijaz, Vice President, FPCCI, […]

by Mrs. Anjum Shahnawaz