Third-party to conduct audit of 15M potential taxpayers
Finance Minister Shaukat Tarin announced on Tuesday that the government is set to launch Universal Self-Assessment, a third-party approach, for auditing 15 million potential taxpayers.
Finance Minister Shaukat Tarin announced on Tuesday that the government is set to launch Universal Self-Assessment, a third-party approach, for auditing 15 million potential taxpayers.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued procedure for selection and conducting electronic audit of income tax cases. In this regard, the FBR issued SRO 835(I)/2021 dated June 29, 2021 to make amendments in the Income Tax Rules, 2002. A new rule 231FA has been inserted into the Income Tax Rules, 2002 to […]
ISLAMABAD: The National Assembly on Tuesday approved federal budget 2021-2022 and Finance Bill 2021. After over a two-week long debate, the National Assembly on Tuesday passed the federal budget with a total outlay of Rs 8.487 trillion, with around 19 percent additional allocations as compared to last year’s Rs 7.137 trillion. The Finance Bill 2021-22 was […]
KARACHI: The stock market gained 135 points on Tuesday owing to positive sentiments prevailed on budget approval. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,138 points as against previous day’s closing of 47,002 points, showing an increase of 135 points. Analysts at Arif Habib Limited said that the market traded positive […]
KARACHI: The Pak Rupee appreciated by 48 paisas against the dollar on Tuesday owing to inflows of export receipts and workers remittances. The rupee ended at Rs157.74 to the dollar as compared with the previous day’s closing of Rs158.22 in the interbank foreign exchange market. A day earlier the rupee fell by 60 paisas against […]
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued following Karachi Interbank Offered Rates (KIBOR) on June 29, 2021. Tenor BID OFFER 1 – Week 6.89 7.39 2 – Week 6.94 7.44 1 – Month 7.01 7.51 3 – Month 7.20 7.45 6 – Month 7.43 7.68 9 – Month 7.50 8.00 1 – Year […]
KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued customers’ exchange rates on the basis of weighted average rates of commercial banks. The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They […]
ISLAMABAD: Online market places will collect sales tax on supply of goods and services through digital platforms on behalf of the Federal Board of Revenue (FBR) from July 01, 2021, sources said on Monday. The sources said that through Finance Bill, 2021 the term online marketplace was introduced. According to KPMG Taseer Hadi & Co. […]
ISLAMABAD: The National Assembly will meet on Tuesday June 29, 2021 in which Shaukat Fayaz Ahmed Tarin, Minister for Finance and Revenue to move the Finance Bill 2021 with certain amendments for approval from the house. A notification issued by the National Assembly Secretariat stated that the assembly will meet on Tuesday June 29, 2021 […]
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday demanded the government of withdraw its decision of increasing duty and taxes on CNG sector. In a statement FPCCI President Mian Nasser Hyatt Maggo said that the sales tax on LNG for CNG sector has been increased from 5 per cent to 17 […]