Rules notified for goods supplied from tax exempt areas

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued rules for tax treatment of goods supplied from tax exempt areas. In this regard the FBR issued SRO 96(I)/2021 to make amendment in Sale Tax Rules, 2006. The Sales Tax Act, 1990 defines “tax-exempt areas” as Azad Jammu and Kashmir, Gilgit-Baltistan, Tribal Areas as defined in […]

by Mrs. Anjum Shahnawaz

FBR exempts withholding tax on wheat import

Jan 26

Taxation

FBR exempts withholding tax on wheat import

In a move to facilitate the import of essential commodities, the Federal Board of Revenue (FBR) issued a notification on Tuesday, exempting withholding income tax on the import of 300,000 metric tons of wheat.

by Mrs. Anjum Shahnawaz

Turkish envoy holds meetings with FPCCI, KCCI members to boost bilateral trade

Jan 26

Trade & Industry

Turkish envoy holds meetings with FPCCI, KCCI members to boost bilateral trade

KARACHI: Consul General of Turkey Tolga UCAK on Tuesday held meetings with members of leading trade bodies of Pakistan to discuss possibilities of enhancing trade and commercial ties between the two countries. During his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) commenting on the proposals of FPCCI President Mian Nasser Hyatt […]

by Mrs. Anjum Shahnawaz

Stock market gains 200 points amid activity in cement, energy sectors

Jan 26

Stock & Commodity

Stock market gains 200 points amid activity in cement, energy sectors

KARACHI: The stock market gained 200 points on Tuesday owing to enhanced trading activity seen in cement and energy sectors. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 46,287 points as against 46,088 points showing an increase of 200 points. Analysts at Arif Habib Limited said that the market continued the buoyant mood […]

by Mrs. Anjum Shahnawaz

Rupee makes gain of 15 paisas against dollar

Jan 26

Money & Banking

Rupee makes gain of 15 paisas against dollar

KARACHI: The Pak Rupee gained 15 paisas against the dollar on Tuesday owing to improved supply of the foreign currency, dealers said. The rupee ended Rs160.64 to the dollar from previous day’s close of Rs160.79 in interbank foreign exchange market. The dealers said that the improved supply of the greenback helped the rupee to make […]

by Mrs. Anjum Shahnawaz

Jan 26

Finance

Remittances to remain strong for financing trade deficit: finance ministry

ISLAMABAD: The ministry of finance on Monday hoped the inflows of remittances to remain strong enough to support the financing of the trade deficit in coming months. In its monthly economic update and outlook – January 2021, the ministry said that the sudden surge in imports due to the increase in international oil prices and […]

by Mrs. Anjum Shahnawaz

Foreign investors repatriate $892 million during 1HFY21

Jan 26

Finance

Foreign investors repatriate $892 million during 1HFY21

KARACHI: The foreign companies operating in Pakistan have repatriated around $892 million as profit and dividend during first half (July – December) of fiscal year 2020/2021 (1HFY21), according to data released by State Bank of Pakistan (SBP) on Tuesday. The repatriation of profit and dividend was 6.7 percent higher when compared with $836 million in […]

by Mrs. Anjum Shahnawaz