FBR amends rules for filing, processing of refund claims

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday amended Sales Tax Rules, 2006 for process and claims of refunds by commercial exporters. In this regard the FBR issued SRO 1172(I)/2020 to make... Read more »

Correction in computerized CVT payment receipt allowed

ISLAMABAD: Federal Board of Revenue (FBR) has allowed correction in computerized payment receipt (CPR) for capital value tax (CVT). In this regard, the FBR amended the procedure. The FBR issued an addendum... Read more »

FBR sets up departmental enquiry committee

ISLAMABAD: A departmental enquiry committee of the Federal Boar of Revenue (FBR) has been constituted to ascertain admissibility of financial benefits for officials removed from services but reinstated on court orders. An... Read more »

PIA declares Rs39.85bn loss for nine-month period as revenue declines sharply

KARACHI: Pakistan International Airlines (PIA) has declared net loss of Rs39.85 billion for the nine-month period ended on September 30, 2020, which is mainly attributed to 31 percent decline in total revenue.... Read more »

Stock market gains 789 points amid rise in international oil prices

KARACHI: The stock market gained 789 points on Thursday owing to gain in international oil prices and regional stock markets. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,071... Read more »

Country’s foreign exchange reserves increase to $19.353 billion

KARACHI: The liquid foreign exchange reserves of the country increased by $57 million to $19.353 billion by week ended October 29, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign... Read more »

Rupee gains 35 paisas; dollar falls to Rs159.46

KARACHI: The Pak Rupee gained 35 paisas against the dollar on Thursday owing to inflows of export receipts and workers’ remittances, dealers said. The rupee ended Rs159.46 to the dollar from the... Read more »

Sales tax rates updated on services provided by restaurants

KARACHI: Sindh Revenue Board (SRB) has notified sales tax rates on services rendered by restaurants in the province. The SRB issued working tariff on November 01, 2020 updating rates of sales tax... Read more »

Budget deficit swells to 1.1 percent in first quarter

ISLAMABAD: The budget deficit has ballooned to 1.1 percent of the GDP for the first quarter (July – September) 2020/2021 as compared with the deficit of 0.7 percent in the corresponding quarter... Read more »