Tax collected on immovable properties made final liability on payment through RDAs

Feb 15

Taxation

Tax collected on immovable properties made final liability on payment through RDAs

ISLAMABAD: The collection of withholding tax on immovable properties has been made final liabilities in case payment made through Roshan Digital Accounts (RDAs). The changes have been brought through Tax Laws (Amendment) Ordinance, 2021. The Federal Board of Revenue (FBR) posted the ordinance on its website on Monday. An amendment has been made to Section […]

by Mrs. Anjum Shahnawaz

Prices of petroleum products kept unchanged

Feb 15

Energy

Prices of petroleum products kept unchanged

ISLAMABAD: The federal government has decided to keep the prices of petroleum products unchanged for next fortnight. According to a statement issued on Monday, the government has decided not to change the prices of petroleum products for next fortnight. The prices as of February 01, 2021 remain effective for the rest of the month. The […]

by Mrs. Anjum Shahnawaz

Stock market gains 567 points on improved remittances

Feb 15

Stock & Commodity

Stock market gains 567 points on improved remittances

KARACHI: The stock market gained 567 points on Monday owing to rise in foreign remittances and expectations of better financial results. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,375 points as against 45,808 points showing an increase of 567 points. Analysts at Arif Habib Limited said that the market priced in […]

by Mrs. Anjum Shahnawaz

Feb 15

Taxation

Super tax made permanent for banks

ISLAMABAD: The levy of super tax has been made permanent for banking companies beyond Tax Year 2021, sources in Federal Board of Revenue (FBR) said on Monday. Tax Laws (Amendment) Ordinance, 2021 has been promulgated on February 12, 2021 after approval by the President of Pakistan. As per the ordinance the levy of super tax […]

by Mrs. Anjum Shahnawaz

Rupee weakens by 45 paisas against dollar on high import payment demand

Feb 15

Money & Banking

Rupee weakens by 45 paisas against dollar on high import payment demand

KARACHI: The Pak Rupee weakened by 45 paisas against the dollar on Monday owing to demand for import and corporate payments. The rupee ended Rs159.27 to the dollar from last Friday’s closing of Rs158.82 in the interbank foreign exchange markets. Currency experts said that high dollar demand was seen during the as market was opened […]

by Mrs. Anjum Shahnawaz

SBP allows housing loan on personal guarantee

Feb 15

Money & Banking

SBP allows housing loan on personal guarantee

KARACHI: The State Bank of Pakistan (SBP) on Monday eased condition for availing loan for housing loan by allowing personal guarantee. The SBP said that currently applicants face difficulties in obtaining housing finance, especially for low cost housing, as banks are reluctant to take the risk of the house not being completed or documentation completion. […]

by Mrs. Anjum Shahnawaz

Withholding tax up to Rs200,000 imposed on sale of new car within 90 days

Feb 15

Automotive, Taxation

Withholding tax up to Rs200,000 imposed on sale of new car within 90 days

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed up to Rs200,000 as withholding tax on sale of motor cars within 90 days of first registration, sources said on Monday. The withholding tax has been imposed till June 30, 2021. The revenue generation measure has been taken in order to discourage the trend of ‘on […]

by Mrs. Anjum Shahnawaz

Workers remittances grow by 24 percent in seven months

Feb 15

Money & Banking

Workers remittances grow by 24 percent in seven months

KARACHI: The remittances sent by the overseas Pakistani workers posted 24 percent growth during the first seven months of the current fiscal year as the inflows of remittances exceeded over $2 billion for eight consecutive months, State Bank of Pakistan (SBP) said on Monday. The overseas Pakistani workers have sent $16.47 billion during July – […]

by Mrs. Anjum Shahnawaz

Illicit cigarettes worth Rs549 million confiscated in seven months

Feb 15

Pakistan Customs

Illicit cigarettes worth Rs549 million confiscated in seven months

ISLAMABAD: Pakistan Customs has confiscated non-duty paid cigarettes worth Rs549 million during first seven months of the current fiscal year, a statement said on Sunday. A spokesman of Federal Board of Revenue (FBR) said that over 7.1 million sticks of illegal cigarettes had been confiscated during the period under review. The spokesman said that the […]

by Mrs. Anjum Shahnawaz