ISLAMABAD: The Anti-Benami Zones established by the Federal Board of Revenue (FBR) have successfully detected benami assets totaling Rs7.4 billion, following thorough investigations in Karachi, Islamabad, and Lahore.
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday demanded the tax authorities to extend the last date for filing income tax returns for tax year 2020. In a message, Mian Anjum Nisar, President, FPCCI said that the date should be extended to facilitate the taxpayers considering spread of coronavirus. The last […]
ISLAMABAD: The IT Wing of Federal Board of Revenue (FBR) has developed e-module for settlement of assessment cases under Section 122D of Income Tax Ordinance, 2001. In an office memo issued to chief commissioners Inland Revenue (CCIR) of Large Tax Offices (LTOs), Medium Tax Office (MTO), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs), […]
The Federal Board of Revenue (FBR) has taken a significant step to boost the textile industry by withdrawing the five percent regulatory duty on the import of cotton yarn.
KARACHI: The share market gained 181 points on Wednesday as buying activity witnessed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 43,088 points as against previous day’s close of 42,907 points showing an increase of 181 points. Analysts at Arif Habib Limited said that after posting a loss […]
KARACHI: The Pak Rupee gained 13 paisas against the dollar on Wednesday on sufficient supply of the greenback to meet import and corporate demands, dealers said. The rupee ended Rs160.55 to the dollar from the previous day’s close of Rs160.68 in the interbank foreign exchange market. The dealers said that the rupee was appreciated after […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that the general rate of tax is 15 percent on yield on investments. However, it is reduced at 10 percent where annual profit is below Rs500,000. The FBR issued Income Tax Circular No. 07 of 2020 to clarify tax rate under Section 151 of the Income […]