FBR to monitor sugar production through surveillance cameras

Oct 1

Taxation

FBR to monitor sugar production through surveillance cameras

ISLAMABAD: Federal Board of Revenue (FBR) will monitor production of sugar through surveillance cameras that will be installed at sugar mills. In this regard a Memorandum of Understanding (MoU) was signed between FBR and Pakistan Sugar Mills Association (PSMA). The signing ceremony was held at FBR headquarter. Member IR Operations Dr. Muhammad Ashfaq Ahmed signed […]

by Mrs. Anjum Shahnawaz

SRB collects Rs26.38 billion in July – September

Oct 1

Taxation

SRB collects Rs26.38 billion in July – September

KARACHI: Sindh Revenue Board (SRB) has collected Rs26.38 billion in July – September of the current fiscal year as compared with Rs22.89 billion in the same period of the last fiscal year, showing a growth of 15.2 percent. A statement on Thursday said that heavy rains in the month of August 2020 severely compounded the […]

by Mrs. Anjum Shahnawaz

FBR sets up cell to probe bogus refund claims

Oct 1

Taxation

FBR sets up cell to probe bogus refund claims

ISLAMABAD: Federal Board of Revenue (FBR) has established a cell to probe fake refund claims in order to make system transparent. In an official order issued on Thursday, the FBR said that to streamline the payment of refund claims and to initiate enforcement measures to minimize the risk of inadmissible refund claims, a system based […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves dip by $369 million

Oct 1

Finance

Foreign exchange reserves dip by $369 million

KARACHI: The liquid foreign exchange reserves of the country fell by $369 million to $19.535 billion by week ended September 25, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $19.904 billion by week ended September 18, 2020. The official reserves of the SBP have come […]

by Mrs. Anjum Shahnawaz

Share market gains 105 points amid profit taking

Oct 1

Stock & Commodity

Share market gains 105 points amid profit taking

KARACHI: The share market gained 105 points on Thursday as selling pressure continued and investors opted for profit taking. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,676 points as against 40,571 points showing an increase of 105 points. Analysts at Arif Habib Limited said that the selling pressure continued unabated today, […]

by Mrs. Anjum Shahnawaz

Oct 1

Money & Banking

Rupee gains 70 paisas against dollar

KARACHI: The Pak Rupee gained 70 paisas against dollar on Thursday owing to inflows of export receipts and workers’ remittances, dealers said. The rupee ended Rs165.00 to the dollar from previous day’s closing of Rs165.70 in interbank foreign exchange market. Currency dealers said that the inflows of export receipts and workers’ remittances had supported the […]

by Mrs. Anjum Shahnawaz

FBR issues valuation for sale of used cars

Oct 1

Taxation

FBR issues valuation for sale of used cars

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued valuation for used cars for purpose of collecting sales tax. The FBR issued SRO 93(I)/2020 to amend Sales Tax Rules, 2006. The FBR issued the rules to implement to the law introduced through Finance Act, 2020 to determine the valuation of used cars. The FBR inserted […]

by Mrs. Anjum Shahnawaz

FBR extends date for filing tax return up to December 08

Oct 1

Taxation

FBR extends date for filing tax return up to December 08

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday extended the last date for filing income tax return up to December 08, 2020 from September 30, 2020. The FBR issued Circular No. 04 of 2020 to extend the date of filing of income tax returns/statements for the tax year 2020 as under: The individuals and association […]

by Mrs. Anjum Shahnawaz