Manual tax collection to be eliminated by January: SBP

KARACHI: The manual collection of taxes will be eliminated by January 2021 and in this regard Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) have agreed on the timelines.... Read more »

Govt. slashes prices of petrol, HSD

ISLAMABAD: The government on Saturday announced reduction in prices of petrol and High Speed Diesel (HSD) effective from November 01, 2020. In a notification issued by the ministry of finance said that... Read more »

Date for filing income tax returns not to be extended: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Saturday said that it will not further extend the date for filing income tax return for tax year 2020. A FBR spokesman said that the... Read more »

FPCCI demands reduction in levy, taxes on petroleum products

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday demanded the government of reducing levy and taxes on petroleum products to support the trade and industry. FPCCI President Mian... Read more »

Commissioners IR given power to select taxpayers for audit

ISLAMABAD: Federal Board of Revenue (FBR) has decided to authorize Commissioner Inland Revenue to select cases for audit under relevant provisions of tax laws. According to an office order issued this week,... Read more »

NCCPL updates biometric app compatible with Android 10

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has updated and configured its biometric application which is compatible with Android’s newer version. The NCCPL in a statement said that it has updated... Read more »

Weekly Review: rising cases of coronavirus remain challenge for trading

KARACHI: The stock market likely range bound during next week on the back of concerns over rising number of cases and probable government measures to contain it. Furthermore, the result season is... Read more »

FBR notifies promotions of IRS, PCS officers to BS-22

ISLAMABAD: Federal Board of Revenue (FBR) has notified promotions to BS-22 of officers of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS). According to a notification issued October 29, 2020, in... Read more »

Motor vehicle tax rates for Tax Year 2021

ISLAMABAD: Federal Board of Revenue (FBR) has updated rate of income tax on motor vehicles used for passenger and goods transportation. The income tax rate shall apply during tax year 2021 (July... Read more »

Money printing cost rises to Rs13.32 billion in FY20: SBP

KARACHI: The State Bank of Pakistan (SBP) has said that cost of printing of money increased to Rs13.32 billion in fiscal year 2019/2020. The central bank in its annual performance report said... Read more »