Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

Jan 19

Taxation

Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

KARACHI: Advance tax collection from registration of new motor vehicles has surged by 62 percent during first half (July – December) of the current fiscal year (1HFY21). The collection of advance tax increased to Rs730 million during the first half of the current fiscal year as compared with Rs450 million in the corresponding half of […]

by Mrs. Anjum Shahnawaz

SBP to review 7pc policy rate on January 22

Jan 19

Money & Banking

SBP to review 7pc policy rate on January 22

KARACHI: The State Bank of Pakistan (SBP) on Tuesday said that it will review the existing key policy rate at 7 percent on January 22, 2021. The SBP said that the Monetary Policy Committee of the SBP will on Friday, January 22, 2021 at SBP Karachi to decide about Monetary Policy. Governor State Bank of […]

by Mrs. Anjum Shahnawaz

KCCI demands immediate release of income tax refunds

Jan 19

Trade & Industry

KCCI demands immediate release of income tax refunds

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to immediately release pending income tax refund claims of small traders, shopkeepers and the SMEs. The claims of around Rs50,000 to Rs100,0000, whose assessment has been completed should be released on top priority, Chairman Businessmen Group (BMG) and Former […]

by Mrs. Anjum Shahnawaz

Stock market gains 177 points amid range bound trading

Jan 19

Stock & Commodity

Stock market gains 177 points amid range bound trading

KARACHI: The stock market gained 177 points on Tuesday amid range bound trading activities during the day, The benchmark KSE -100 index of Pakistan Stock Exchange (PSX) closed at 45,903 points as against the previous day’s close of 45,726 points showing an increase of 177 points. Analysts at Arif Habib said that the market traded […]

by Mrs. Anjum Shahnawaz

Meezan Bank announces direct payment integration with VISA Card

Jan 19

Money & Banking

Meezan Bank announces direct payment integration with VISA Card

KARACHI: Meezan Bank Limited has announced direct integration for routing settlement of Visa card transactions. A statement on Tuesday said the shift comes in continuation with its direct integration with Mastercard last year, bringing the bank a step closer to its goal of transforming its customers’ payment experience, enabling faster and more seamless transactions. Meezan […]

by Mrs. Anjum Shahnawaz

Rupee weakens by nine paisas against dollar

Jan 19

Money & Banking

Rupee weakens by nine paisas against dollar

KARACHI: The Pak Rupee weakened by 9 paisas against the dollar on Tuesday owing to demand for import and corporate payments, dealers said. The rupee ended Rs160.61 to the dollar form last day’s closing of Rs160.52 in the interbank foreign exchange market. The dealers said that the rupee weakened owing to dollar demand for import […]

by Mrs. Anjum Shahnawaz

Pakistan improves ranking by 31 positions in ease of trading across border index: FBR

Jan 19

Pakistan Customs, Taxation

Pakistan improves ranking by 31 positions in ease of trading across border index: FBR

ISLAMABAD: Pakistan has improved its ranking by 31 positions (from 142nd to 111th) on the rank of trading across border index, according to a statement issued by the Federal Board of Revenue (FBR) on Tuesday. The FBR made trading across borders easier by focusing three crucial areas: enhancing the integration of various agencies in the […]

by Mrs. Anjum Shahnawaz

Sales Tax Refund: FBR team to brief taxpayers on filing Annexure-H

Jan 19

Taxation

Sales Tax Refund: FBR team to brief taxpayers on filing Annexure-H

KARACHI: A team of Federal Board of Revenue (FBR) will brief taxpayers about the procedure for filing Annexure-H which is mandatory for filing sales tax refunds. According to a circular, a technical committee of the FBR is scheduled to organize workshop/Webinar for orientation of SME manufacturers-cum-exporters and commercial exporters and tax consultants with regards to […]

by Mrs. Anjum Shahnawaz

FBR obtains transaction information of stock members, brokers from NCCPL

Jan 19

Taxation

FBR obtains transaction information of stock members, brokers from NCCPL

The Federal Board of Revenue (FBR) is set to gain direct access to transaction information of members, brokers, and investors within Pakistan’s equity market.

by Mrs. Anjum Shahnawaz