FBR launches crackdown against non-filers; fine, penalty imposed

ISLAMABAD: Federal Board of Revenue (FBR) on Monday launched crackdown against non-filers of income tax returns for tax year 2020. Taxpayers including salaried persons, business individuals, Association of Persons and corporate entities, who were required to file their returns by due date i.e. September 30, 2020 extended up to December 08, 2020, have received notices […]

by Mrs. Anjum Shahnawaz

Banks to reveal key information for deposit accounts

Dec 14

Money & Banking

Banks to reveal key information for deposit accounts

KARACHI: State Bank of Pakistan (SBP) on Monday issued guidelines for banks to ensure disclosure of key information for deposit accounts. In a circular, the central bank said that effective disclosure is considered a fundamental component of the Financial Consumer Protection regime. Standardized disclosures as Key Fact Statements (KFS) increase consumer comprehension about a banking […]

by Mrs. Anjum Shahnawaz

Ministry notifies dates for kinnow, mangoes exports

Dec 14

Pakistan Customs

Ministry notifies dates for kinnow, mangoes exports

ISLAMABAD: The ministry of commerce on Monday notified dates for start of exports of mangoes and citrus hybrid (kinnow). The ministry issued SRO 1334(I)/2020 dated December 14, 2020 to amend Export Policy Order, 2020. According to the amendments: “Export of mangoes shall be allowed from the 20th day of May unless otherwise specified by the […]

by Mrs. Anjum Shahnawaz

Stock market gains 796 points on improved sentiments

Dec 14

Stock & Commodity

Stock market gains 796 points on improved sentiments

KARACHI: The stock market gained 796 points on Monday owing to positive news flow regarding China currency swap agreement and expectations of lower inflation. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,266 points as compared with last closing on Friday at 42,470 points, showing an increase of 796 points. Analysts at […]

by Mrs. Anjum Shahnawaz

FBR’s online return filing portal restores after disruption

Dec 14

Taxation

FBR’s online return filing portal restores after disruption

KARACHI: The online return filing portal of Federal Board of Revenue (FBR) restored after witnessing disruption on Monday. The IRIS – the online web portal of the FBR for income tax return filing – is working normally by Monday evening after taxpayers complained that the portal was not responding during first half. The portal was […]

by Mrs. Anjum Shahnawaz

Rupee falls by 33 paisas on higher payment demand

Dec 14

Money & Banking

Rupee falls by 33 paisas on higher payment demand

KARACHI: The Pak Rupee fell by 33 paisas against the dollar on Monday owing to increasing demand for import and corporate payments. The rupee ended at Rs160.47 to the dollar from last Friday’s closing of Rs160.14 in the interbank foreign exchange market. Currency dealers said that demand for the foreign currency was higher because the […]

by Mrs. Anjum Shahnawaz

FBR’s return filing portal not responding

Dec 14

Taxation

FBR’s return filing portal not responding

KARACHI: A large number of taxpayers unable to file their annual income tax returns on Monday as the official web portal of the Federal Board of Revenue (FBR) is not responding. The official website of the FBR https://www.fbr.gov.pk is responding very slowly. Further, the IRIS portal – the return filing portal – is showing different massage – […]

by Mrs. Anjum Shahnawaz