FBR issues single page return form for shopkeepers, traders

Sep 17

Taxation

FBR issues single page return form for shopkeepers, traders

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued final draft of single-page income tax return for shopkeepers /small traders having annual turnover less than Rs10 million. The FBR issued SRO 885(I)/2020 to notify the final draft. Previously, the FBR on September 08, 2020 issued draft return form for shopkeepers/traders through SRO 821(I)/2020 to invite […]

by Mrs. Anjum Shahnawaz

Banks directed to apply AML/CFT rules on issuance of saving certificates

Sep 17

Money & Banking

Banks directed to apply AML/CFT rules on issuance of saving certificates

KARACHI: State Bank of Pakistan (SBP) on Thursday directed banks to implement anti-money laundering (AML) and Counter Financing for Terrorism (CFT) rules related to issuance of National Saving Schemes (NSS). The SBP said that commercial banks are performing functions of sale, encashment, profit payment etc. of various NSS such as prize bonds, SSC and DSC. […]

by Mrs. Anjum Shahnawaz

Sep 17

Taxation

FBR forms committees to eliminate inequalities in taxation system

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday formed committees for elimination of inequality in taxation system and speedy resolution of taxpayers’ complaints. The FBR said that advisor to Prime Minister on Finance and Revenue had constituted two committees namely Technical Committee and Complaint Oversight Committee of FBR in order to identify and remove the […]

by Mrs. Anjum Shahnawaz

Zeeshan Merchant elected unopposed KTBA president

Sep 17

Taxation

Zeeshan Merchant elected unopposed KTBA president

KARACHI: The office bearers and members of executive committee have been elected unopposed for the term 2020 in the election of Karachi Tax Bar Association (KTBA). This was announced at 63rd Annual General Meeting (AGM) of the bar held on Thursday. All the candidates for the KTBA elections have been elected unopposed. The AGM announced […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves remain flat at $19.959 billion

Sep 17

Finance

Foreign exchange reserves remain flat at $19.959 billion

KARACHI: The liquid foreign exchange reserves of the country were remained flat at $19.959 billion by week ended on September 11, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $19.961 billion by week ended September 04, 2020. The official foreign exchange reserves of the SBP […]

by Mrs. Anjum Shahnawaz

Share market gains 53 points amid selling pressure

Sep 17

Stock & Commodity

Share market gains 53 points amid selling pressure

KARACHI: The share market gained 53 points on Thursday despite selling pressure seen in the market during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,334 points as against 42,282 points showing an increase of 53 points. Analysts at Arif Habib Limited said that the market opened on a positive […]

by Mrs. Anjum Shahnawaz

Sep 17

Money & Banking

Rupee recovers 13 paisas on inflows

KARACHI: The Pak Rupee recovered 13 paisas against dollar on Thursday owing to improved inflows of export receipts and workers remittances. The rupee ended Rs166.21 to the dollar from previous day’s closing of Rs166.34 in interbank foreign exchange market. Currency experts said that the rupee recovered owing to inflows of export receipts and workers’ remittances. […]

by Mrs. Anjum Shahnawaz

SBP facilitates overseas Pakistanis to increase participation in domestic financial market

Sep 17

Money & Banking

SBP facilitates overseas Pakistanis to increase participation in domestic financial market

KARACHI: State Bank of Pakistan (SBP) and the government are actively working to facilitate non-resident Pakistanis in increasing their investment in domestic financial market, SBP governor Dr. Reza Baqir said. According to a joint press release of SBP and Pakistan Embassy, USA issued on Thursday, the SBP governor while elaborating the efforts of SBP for […]

by Mrs. Anjum Shahnawaz

FBR promotes 65 IROs to post of Assistant Commissioner

Sep 17

Taxation

FBR promotes 65 IROs to post of Assistant Commissioner

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday promoted 65 Inland Revenue Officers (IROs) of BS-16 to the post of assistant commissioner of Inland Revenue BS-17 with immediate effect. The FBR promoted following officers to the post of Assistant Commissioner IR with their name and place of posting: Muhammad Arshad, Directorate of Intelligence and Investigation […]

by Mrs. Anjum Shahnawaz