Oct 15

Share market ends down by 76 points on political uncertainty

KARACHI: The share market fell by 76 points on Thursday owing to rising political uncertainty in the country. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,068 points from previous day’s closing of 40,144 points, showing a decline of 76 points. Analysts at Topline Securities said that the market opened on a […]

by Mrs. Anjum Shahnawaz

Rupee makes gain of 62 paisas on ease in dollar demand

Oct 15

Money & Banking

Rupee makes gain of 62 paisas on ease in dollar demand

KARACHI: The Pak Rupee strengthened by 62 paisas against dollar on Thursday owing to significant inflows of workers’ remittances and export receipts. The rupee ended Rs162.86 to the dollar from previous day’s closing of Rs163.48 in interbank foreign exchange market. Currency experts said that latest exchange rates showed the dollar weakened by five month low. […]

by Mrs. Anjum Shahnawaz

TAX YEAR 2021: Rates of income tax for companies

Oct 15

Taxation

TAX YEAR 2021: Rates of income tax for companies

ISLAMABAD: Federal Board of Revenue (FBR) has issued rates of income tax for companies to be applicable during tax year 2021. The FBR issued Income Tax Ordinance, 2001 (updated June 30, 2020) incorporating amendments brought through Finance Act, 2020. The FBR said that the rate of tax shall be 29 percent on the taxable income […]

by Mrs. Anjum Shahnawaz

Tax Year 2021: income tax rates for business individuals, AOPs

Oct 15

Taxation

Tax Year 2021: income tax rates for business individuals, AOPs

ISLAMABAD: Federal Board of Revenue (FBR) has issued tax rates to be applicable on business individuals and Association of Persons (AOPs) during tax year 2021. The FBR issued Income Tax Ordinance, 2001 (updated June 30, 2020) incorporating amendment brought through Finance Act, 2020. The FBR said that the rates of tax imposed on income of […]

by Mrs. Anjum Shahnawaz

Bank deposits reach new peak of Rs16.88 trillion by September

Oct 14

Money & Banking

Bank deposits reach new peak of Rs16.88 trillion by September

KARACHI: The deposits of banking system surged to a new record high of Rs16.886 trillion by end of September 2020, according to data released by State Bank of Pakistan (SBP) on Wednesday. The bank deposits reached to new record-level from previous all-time high of Rs16.327 trillion by end of August 2020. The deposits of the […]

by Mrs. Anjum Shahnawaz

FBR abolishes regulatory duty, ACD on various imported goods

Oct 14

Pakistan Customs

FBR abolishes regulatory duty, ACD on various imported goods

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday abolished regulatory duty and additional customs duty on various raw materials used by textile industry. The FBR issued SRO 1043(I)/2020 dated October 13, 2020 abolished regulatory duty of 8 percent on various chemicals used as raw material for textile industry. Besides, regulatory duty imposed at two percent […]

by Mrs. Anjum Shahnawaz

LTO Karachi takes measures to contain resurgence of coronavirus

Oct 14

Taxation

LTO Karachi takes measures to contain resurgence of coronavirus

KARACHI: Large Taxpayers Office (LTO) Karachi has taken measures to contain the resurgence of coronavirus. In this regard, an advisory has been issued for the staff of LTO Karachi with directives of strict implementation. Badaruddin Ahmed Qureshi, Chief Commissioner, LTO Karachi directed all divisions including audit, enforcement and legal of the tax office in order […]

by Mrs. Anjum Shahnawaz

Stock market gains 138 points amid volatile trading

Oct 14

Stock & Commodity

Stock market gains 138 points amid volatile trading

KARACHI: The stock market gained 138 points on Wednesday amid high volatile trading sessions during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 40,144 points from previous day’s closing of 40,007, showing a gain of 138 points. Analysts at Topline Securities said that Pakistan equities end higher in a volatile session […]

by Mrs. Anjum Shahnawaz

New AML/CFT screening facility launched for financial sector

Oct 14

Stock & Commodity

New AML/CFT screening facility launched for financial sector

KARACHI: First Paramount Modaraba managed by Paramount Investments Limited on Wednesday announced the launch of its new Anti-Money Laundering (AML)/Countering Financing of Terrorism (CFT) screening facility for financial sector and other businesses. In a letter to Pakistan Stock Exchange (PSX) on Wednesday, the company launched the AML/CFT screening in partnership with FinScan®, a global leader […]

by Mrs. Anjum Shahnawaz

Rupee gains 39 paisas on sufficient inflows

Oct 14

Money & Banking

Rupee gains 39 paisas on sufficient inflows

KARACHI: The Pak Rupee gained 39 paisas against the dollar on Wednesday owing to significant inflows of export receipts and workers’ remittances. The rupee ended at Rs163.48 to the dollar from the previous day’s closing of Rs163.87 in the interbank foreign exchange market. Currency dealers said that the market witnessed sufficient supply of the foreign […]

by Mrs. Anjum Shahnawaz