ISLAMABAD: The government has increase the price of high speed diesel oil by Rs4 per liter. The prices of other POL products have been kept unchanged for next fortnight with effect from December 01, 2020, a statement said on Monday. The government in its endeavor to provide maximum relief to the public has decided to […]
KARACHI: State Bank of Pakistan (SBP) on Monday made it mandatory for all banks to construct ramps at their branches for persons with disabilities. The SBP said it had decided to make it mandatory for all banks/ MFBs/ DFIs to construct ramps at all newly opened and existing place of business (excluding Mobile Banking Units) […]
KARACHI: The stock exchange gained 262 points on Monday after making recovery from early day losses. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,069 points as against 40,807 points showing an increase 262 points. Analysts at Arif Habib Limited said that the market opened on a negative note with -24 points […]
KARACHI: The Pak Rupee gained four paisas against the dollar on Monday despite demand for import and corporate payments. The rupee ended Rs159.42 to the dollar form last Friday’s close of Rs159.46 in the interbank foreign exchange market. Currency dealers said that the market witnessed demand for the dollars because of the first trading day […]
ISLAMABAD: The filing of income tax return has reached a new peak of 2.96 million, according to the updated Active Taxpayers List (ATL) issued by Federal Board of Revenue (FBR) on Monday. The record return filing was made possible following effective measures taken by the tax authorities to encourage persons having taxable income to file […]
KARACHI: Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has lauded the efforts of Pakistan Customs for establishing an e-commerce clearance facility in collaboration with the State Bank of Pakistan (SBP). “The move will prove to be very effective for SMEs, helping them promote their business, especially in the era of post-corona economic slowdown,” according […]
ISLAMABAD: Income Tax Ordinance, 2001 has defined resident and non-resident Pakistan for the purpose of apply rate of income tax on domestic source of income. The Federal Board of Revenue (FBR) issued ITO 2001 (updated June 30, 2020) and differentiated residents and non-resident Pakistanis. Various sections of Income Tax Ordinance, 2001 explains the definition: Section […]
ISLAMABAD: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to launch form for mandatory profile update by registered taxpayers as compliance date is fast approaching. The PTBA on November 13, 2020 sent a letter to Muhammad Javed Ghani, Chairman, FBR, urging him to publicize prescribed form for updating business profile […]
KARACHI: State Bank of Pakistan (SBP) on Sunday directed all banks to observe extended working hours to facilitate collection of duty and taxes on Monday November 30, 2020. A notification issued by the central bank, stated that in order to facilitate the collection of government receipts / duties / taxes, it has been decided that […]
KARACHI: Karachi Tax Bar Association (KTBA) on Saturday said that it has detected calculation errors on the online return filing portal of the Federal Board of Revenue (FBR). In this regard the tax bar sent a letter to Dr. Muhammad Ashfaq, Member Inland Revenue (Operations), Federal Board of Revenue (FBR) apprising him that the issues […]