SECP extends coronavirus contingency plan for corporate meetings

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has extended the applicability of coronavirus related contingency planning for general meetings of shareholders. In a notification issued on Friday, the SECP extended the applicability of its circular No. 5 of 2020 dated March 17, 2020 to annual general meetings and extra-ordinary general meetings to be […]

by Mrs. Anjum Shahnawaz

Sales tax rates for construction services updated

Nov 6

Taxation

Sales tax rates for construction services updated

KARACHI: Sindh Revenue Board (SRB) has issued updated rates of sales tax on construction services. The SRB explained the rate of sales tax at normal, concessionary and exempted on construction services. The SRB issued working tariff updated up to November 01, 2020. Following are the rate of sales tax on construction services: The SRB said […]

by Mrs. Anjum Shahnawaz

FBR issues procedure for oversight committee to settle cases

Nov 6

Taxation

FBR issues procedure for oversight committee to settle cases

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued procedure for assessment oversight committee for resolving cases of settlement filed against assessment notices. The FBR issued SRO 1184(I)/2020 to notify the rules. Previously, the FBR issued draft rules through SRO 957(I)/2020 dated October 02, 2020 to seek input from stakeholders. The FBR introduced Rule 231CA […]

by Mrs. Anjum Shahnawaz

Share market sheds 340 points on profit taking

Nov 6

Stock & Commodity

Share market sheds 340 points on profit taking

KARACHI: The share market witnessed a decline of 340 points on Friday owing to selling pressure across the board. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,732 points as against 41,071 points showing a decline of 340 points. Analysts at Arif Habib Limited said that after posting gains on the Index […]

by Mrs. Anjum Shahnawaz

Rupee gains 37 paisas; dollar eases to Rs159.09

Nov 6

Money & Banking

Rupee gains 37 paisas; dollar eases to Rs159.09

KARACHI: The Pak Rupee gained 37 paisas against the dollar on Friday owing to lower imports and higher inflows of export receipts and workers remittances, dealers said. The rupee ended Rs159.09 to the dollar from the previous day’s close of Rs159.46 in the interbank foreign exchange market. The dealer said that the importers were cautious […]

by Mrs. Anjum Shahnawaz

FBR issues rules to finalize return forms by January 31

Nov 6

Taxation

FBR issues rules to finalize return forms by January 31

ISLAMABAD: Federal Board of Revenue (FBR) on Friday amended rules under which annual income tax return form will be available on January 31 every year following the financial year to which the return relates. The FBR issued SRO 1185(I)/2020 to amend Income Tax Rules 2002. Previously, the FBR issued SRO 1041(I)/2020 dated October 13, 2020 […]

by Mrs. Anjum Shahnawaz

Customs launches pilot project of authorized economic operator

Nov 6

Pakistan Customs

Customs launches pilot project of authorized economic operator

KARACHI: Pakistan Customs has launched a pilot project of Authorized Economic Operator (AEO) to facilitate trade and industry, a statement said on Friday.

by Mrs. Anjum Shahnawaz