TAX YEAR 2021: Rates of advance tax on imports

ISLAMABAD: Federal Board of Revenue (FBR) has updated rate of advance tax on imports for tax year 2021 (July 01, 2020 to June 30, 2021). The FBR issued Income Tax Ordinance, 2001... Read more »

KTBA demands date extension for filing sales tax return

KARACHI: Federal Board of Revenue (FBR) has been informed that many taxpayers were unable to file their sales tax returns for September 2020 as FBR’s web-portal was stopped functioning. Muhammad Zeeshan Merchant,... Read more »

Hubco plans generating Rs6 billion through Sukuk

KARACHI: The Hub Power Company Limited (Hubco) through its wholly owned subsidiary, Hub Power Holdings Limited, is in the process of finalizing issuance of Sukuk, a statement said on Monday. This represents... Read more »

Meezan Bank becomes pioneer in Sharia financing for low cost housing

KARACHI: Meezan Bank has become the first financial institution in the country to disburse the first two Shariah-compliant housing finance facilities under Prime Minister’s Mera Pakistan Mera Ghar, Low Cost Housing Finance... Read more »

Contracts worth Rs5.11 billion awarded for next generation broadband

ISLAMABAD: The Universal Service Fund (USF) on Monday approved award of contracts to Telenor, Zong, Ufone and PTCL worth Rs5.11 billion through the Next Generation Broadband for Sustainable Development program and the... Read more »

Reduced rates of electricity, gas: ECC approves procedure for registration

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved the procedure of registration for availing reduced rate of electricity, RLNG and gas by manufacturers and industries. Adviser to the... Read more »

Share market gains 176 points amid gathering of opposition parties

KARACHI: The share market witnessed an increase of 176 points on Monday amid gathering of combined opposition in financial hub of the country. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX)... Read more »

Rupee gains 11 paisas against dollar

KARACHI: The Pak Rupee gained 11 paisas against dollar on Monday owing to improved economic indicators. The rupee ended Rs162.38 to the dollar from last Friday’s closing of Rs162.49 in interbank foreign... Read more »

Import of mobile phones allowed Rs23.15 billion as tax concession

ISLAMABAD: Federal Board of Revenue (FBR) issued details of sales tax concessions to the tune of Rs23.15 billion granted on import mobile phones. The FBR issued the cost of allowing reduced rate... Read more »

FBR grants tax relief of Rs24.14 billion on sugar sales

ISLAMABAD: Federal Board of Revenue (FBR) has granted concession of Rs24.14 billion as sale tax on domestic supply of sugar. According to official documents, the FBR granted concession of Rs24.41 billion on... Read more »