Jan 11

Taxation

Rules notified for taxpayers profile update

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified rules for making it mandatory for taxpayers to update their profiles through IRIS portal. The FBR issued SRO 13(I)/2021 dated January 08, 2021 to amend Income Tax Rules, 2002. Through the SRO the FBR notified online format for taxpayers to update profile. Previously, the FBR issued […]

by Mrs. Anjum Shahnawaz

Taxpayers urged to use electronic payment facility

Jan 11

Taxation

Taxpayers urged to use electronic payment facility

ISLAMABAD: Federal Board of Revenue (FBR) has urged the taxpayers to avail electronic mode of payment for duty and taxes. The e-payment facility has been introduced for convenient and hassle free payment, said a statement issued on Monday. In continuation of FBR reforms and modernization drive, E-Payment facility for payment of all FBR taxes as […]

by Mrs. Anjum Shahnawaz

Prime Minister launches Pakistan’s instant payment system

Jan 11

Money & Banking

Prime Minister launches Pakistan’s instant payment system

ISLAMABAD: Prime Minister Imran Khan on Monday launched the completion of the first phase of Pakistan’s Instant Payment System, Raast, according to a statement issued by State Bank of Pakistan (SBP). Raast is an initiative of SBP under which it has developed Pakistan’s first instant payment system in collaboration with Bill & Melinda Gates Foundation […]

by Mrs. Anjum Shahnawaz

Car sales increase by 18 percent during first half

Jan 11

Automotive

Car sales increase by 18 percent during first half

KARACHI: The sales of domestically manufactured cars have registered 18 percent growth to 78,910 units during first half (July – December) 2021/2021 as compared with 67,019 points in the half of the last fiscal year. The increase in cars sales during the first half mainly attributed to addition of 1,169 units manufactured by new entrant […]

by Mrs. Anjum Shahnawaz

Stock market slips by 49 points in mixed trading

Jan 11

Stock & Commodity

Stock market slips by 49 points in mixed trading

KARACHI: The stock market slipped by 49 points on Monday in mixed trading activities during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,605 points as against 45,654 points showing a decline of 49 points. Analysts at Arif Habib Limited said that the benchmark KSE-100 index crossed another milestone of […]

by Mrs. Anjum Shahnawaz

Rupee ends down by 22 paisas on demand for import payments

Jan 11

Money & Banking

Rupee ends down by 22 paisas on demand for import payments

KARACHI: The Pak Rupee ended down by 22 paisas against the dollar on Monday owing to demand for import and corporate payments. The rupee ended Rs160.39 to the dollar form last Friday’s closing of Rs160.17 in the interbank foreign exchange market. Currency experts said that the market opened after two weekly holidays which resulted in […]

by Mrs. Anjum Shahnawaz

Income tax return filing touches new peak at 3.03 million

Jan 11

Taxation

Income tax return filing touches new peak at 3.03 million

ISLAMABAD: Income tax return filing hit record high at 3.03 million for tax year 2019, according to weekly Active Taxpayers List (ATL) updated on Monday. The FBR issued the weekly ATL – 2019 updated on the basis of returns filed up to January 10, 2021. The ATL-2019 will remain applicable till February 28, 2021 as […]

by Mrs. Anjum Shahnawaz

Process initiated to assess, evaluate retirement benefit scheme

Jan 11

Finance

Process initiated to assess, evaluate retirement benefit scheme

ISLAMABAD: The federal government has initiated process to evaluate and assess liabilities against retirement benefit scheme. In this regard the ministry of finance intended to hire services of actuarial services to assess and determine the retirement benefit schemes liabilities of the federal government as on June 30, 2020, sources said on Monday. The ministry said […]

by Mrs. Anjum Shahnawaz

FBR launches mega crackdown against illegal petrol pumps

Jan 11

Pakistan Customs

FBR launches mega crackdown against illegal petrol pumps

ISLAMABAD: Federal Board of Revenue (FBR) has launched massive crackdown against illegal petrol pumps from Monday (January 11, 2021) on the directives of Prime Minister Imran Khan. Prime Minister Imran Khan in a recent meeting directed the FBR and relevant authorities to initiate harsh action illegal petrol pumps selling smuggled petroleum products. The FBR in […]

by Mrs. Anjum Shahnawaz