Eurobonds, Sukuks granted income tax exemption

ISLAMABAD: Federal Board of Revenue (FBR) on Monday granted income tax exemption on profits derived by foreign nationals on yield of Eurobonds and International Sukuk issued by the government of Pakistan. In this regard the FBR issued two notifications to make changes in Income Tax Ordinance, 2001. The FBR issued SRO 268(I)/2021 and SRO 269 […]

by Mrs. Anjum Shahnawaz

Stock market ends down by 272 points on selling pressure

Mar 1

Stock & Commodity

Stock market ends down by 272 points on selling pressure

KARACHI: The stock market ended down by 272 points on Monday as selling pressure witnessed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,593 points as against last Friday’s closing of 45,865 points, showing a decline of 272 points. Analysts at Arif Habib Limited said that the market saw […]

by Mrs. Anjum Shahnawaz

Rupee makes 6 paisas gain against dollar

Mar 1

Money & Banking

Rupee makes 6 paisas gain against dollar

KARACHI: The Pak Rupee gained six paisas against the dollar on Monday owing to better inflows of the foreign exchange, dealers said. The rupee ended at Rs158.04 to the dollar from last Friday’s closing of Rs158.10 in the interbank foreign exchange market. It was the sixth straight trading day when the rupee maintained its recovery […]

by Mrs. Anjum Shahnawaz

Headline inflation increases by 8.7pc in February

Mar 1

Finance

Headline inflation increases by 8.7pc in February

ISLAMABAD: The headline inflation i.e. Consumer Price Index (CPI) increased by 8.7 percent in February 2021 on year on year basis, Pakistan Bureau of Statistics (PBS) said on Monday. CPI inflation General, increased by 8.7 percent on year-on-year basis in February 2021 as compared to an increase of 5.7 percent in the previous month and […]

by Mrs. Anjum Shahnawaz

FBR issues 2.1 million notices for non-filing, misdeclaring assets

Mar 1

Taxation

FBR issues 2.1 million notices for non-filing, misdeclaring assets

ISLAMABAD: The tax authorities have issued 2.1 million notices to individuals and companies for non-compliance in annual return filing and to those who misdeclared assets in their annual returns of income, a statement issued by Federal Board of Revenue (FBR) said on Sunday. These notices were sent to defaulters by February 28, 2021. The FBR […]

by Mrs. Anjum Shahnawaz