KARACHI: Meezan Bank has been awarded with many titles by the CFA Society of Pakistan, a member society of the CFA Institute, USA at its 17th Annual Excellence Awards ceremony held on October 2, 2020. A statement issued on Monday said that the bank had been declared as the ‘Best Bank of the Year’ and […]
ISLAMABAD: Federal Board of Revenue (FBR) has taken strict notice against officials involved in exerting political influence in administrative matters. In an official note issued on Monday, the Member Admin, FBR warned all officials of Inland Revenue and Pakistan Customs to restrained from such activities as same would attract disciplinary action. The Member said that […]
ISLAMABAD: The trade deficit has increased by 2 percent during first quarter (July – September) 2020/2021 due to uptick in import bill. According to trade data released by Pakistan Bureau of Statistics (PBS) on Monday, the import bill of the country increased to $11.26 billion during the first quarter of current fiscal year as compared […]
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of seven taxpayers who failed to comply with filing of returns for four consecutive tax periods. The SRB in a letter sent to Pakistan Automation Revenue (Pvt) Limited (PRAL) informed that the seven taxpayers had been suspended with immediate effect. The SRB said that under […]
KARACHI: The share market fell by around 1,000 points on Monday due to increase in headline inflation and rising uncertainty on political front. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,072 points as against 40,070 points showing a decline of 998 points. Analysts at Arif Habib Limited said that the market […]
KARACHI: The Pak Rupee gained 19 paisas against the dollar on Monday owing to lower demand for import payment, dealers said. The rupee ended Rs164.32 to the dollar from previous closing on October 02, 2020 at Rs164.51 in the interbank foreign exchange market. The dealers said that positive sentiments prevailed in the currency market due […]
ISLAMABAD: The ministry of commerce has unveiled Export Policy Order 2020 and explained export of goods allowed against Pakistan currency to Afghanistan against Central Asian Republics. The ministry issued SRO 901(I)/2020 dated September 25, 2020, and stated regarding ‘exports to Afghanistan and through Afghanistan to Central Asian Republics’ that: (1) subject to the provisions of […]
ISLAMABAD: Salaried persons have paid Rs129 billion as income tax at source during tax year 2020, which is 70 percent higher than the collection under this head during preceding year, according to official documents. The FBR had collected Rs76 billion as income tax from salaried persons during tax year 2019. The FBR officials attributed to […]
ISLAMABAD: The collection of sales tax from textile sector registered a six-fold increase in fiscal year 2019/2020 owing to elimination of zero-rated tax regime. According to official statistics released by Federal Board of Revenue (FBR) the sales tax collection from textile sectors sharply increased to Rs61.2 billion during fiscal year 2019/2020 as compared with Rs8.7 […]
ISLAMABAD: Federal Board of Revenue (FBR) on Saturday said that sales tax is applicable at 17 percent on sale of used cars only on value addition. Clarifying news reports regarding levying of 17 percent sales tax on resale of used and refurbished vehicles, the FBR said that the existing law charged sales tax on full […]