ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that the withholding tax rates on usage of phone and internet have been reduced to 10 per cent from 12.5 per cent with effect from July 01, 2021. For tax year 2022 the rate has been reduced to 10 per cent and it will be […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that around 71 cases of money laundering have been registered during FY21 (2020/2021) in which an amount of Rs62 billion is involved. The FBR said that its wing i.e. Directorate General of Intelligence & Investigation-IR showed commendable performance during July 2020 to June 2021. During […]
KARACHI: VIS Credit Rating Company Limited has upgraded the entity ratings of Meezan Bank Limited (MEBL) to ‘AAA/A-1+’ (Triple A/ A-One Plus) from ‘AA+/A-1+’ (Double A Plus/ A-One Plus). The medium to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of Government of […]
KARACHI: Ericsson (NASDAQ: ERIC) has launched its annual Ericsson Innovation Awards (EIA) 2021, a global competition with a grand prize of €25,000 that offers university students around the world, including from Pakistan, the chance to develop new, innovative ideas with support from Ericsson experts. The theme in 2021 is ‘Bridge the Digital Divide’. The digital […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said it has received 3.01 million income tax returns for tax year 2020 till June 30, 2021. “FBR’s efforts to broaden the tax base are expanding apace. Early signs suggest such efforts are bearing fruits,” it said in a statement. As on June 30, 2021, income tax […]
ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs4.732 trillion during fiscal year 2020/2021 surpassing the annual target of Rs4.69 trillion by Rs41 billion. This represents a growth of about 18 per cent over the collection of Rs. 3,997 billion during the same period last year. The net collection for the month of June was […]
ISLAMABAD: The inflation based on Consumer Price Index (CPI) has increased by 9.7 percent on year-on-year basis in June 2021 as compared to an increase of 10.9 per cent in the previous month and 8.6 per cent in June 2020, Pakistan Bureau of Statistics (PBS) said on Thursday. On month-on-month basis, it decreased by 0.2 […]
KARACHI: The Federal Board of Revenue (FBR) on Thursday launched its IRIS portal for filing income tax returns for tax year 2021. Filing of a return of income is mandatory under Section 114 of the Income Tax Ordinance, 2001. Section 114: Return of income. — (1) Subject to this Ordinance, the following persons are required […]
KARACHI: The stock market gained 445 points on Thursday as buying activities were observed on the first day of the fiscal year 2021/2022. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,801 points as against previous day’s closing of 47,356 points, showing an increase of 445 points. Analysts at Arif Habib Limited […]
ISLAMABAD: Unlike past practice of delayed opening of income return filing, the Federal Board of Revenue (FBR) has opened the IRIS portal for filing annual return of income for tax year 2021 from July 01, 2021. The taxpayers can login with their ID and password to the IRIS portal of the FBR and file their […]