ISLAMABAD: The Federal Board of Revenue (FBR) has released the updated rates of withholding tax on salary income for the fiscal year 2021-2022.
ISLAMABAD: Pakistan’s students arriving in Turkey will now undergo the mandatory quarantine period at designated dormitories rather than private hotels, as announced by the Turkish government.
Federal Board of Revenue (FBR) has issued updated withholding tax rates on imports for year 2021/2022. The collector of customs collects withholding tax under Section 148 of Income Tax Ordinance, 2001 at the time of consignment clearance.
KARACHI: The share market ended down by 151 points on Friday in narrow range trading during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,489 points as against previous day’s closing of 47,640 points, showing a decline of 151 points. Analysts at Arif Habib Limited said that the market largely traded in a narrow range and […]
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on August 06, 2021. Tenor BID OFFER 1 – Week 6.93 7.43 2 – Week 6.96 7.46 1 – Month 7.02 7.52 3 – Month 7.15 7.40 6 – Month 7.34 7.59 9 – Month 7.44 7.94 1 – Year […]
The Federal Board of Revenue (FBR) has updated the list of items on which the sales tax will be collected on the basis of printed retail price. The sales tax at the rate of 17 per cent on the retail printed price shall be applicable for tax year 2021/2022. The items are included in the […]
KARACHI: The Pak Rupee (PKR) fell by 22 paisas against the dollar on Friday as foreign currency demand for import payment remained higher. The interbank foreign exchange market closed at Rs163.45 to the dollar from the previous day’s closing of Rs163.23. Currency experts said that dollar demand was higher due to upcoming weekly holidays. They […]
KARACHI: The State Bank of Pakistan (SBP) on Friday issued customers’ exchange rates. The exchange rate is on the basis of weighted average rates of commercial banks. The SBP said the data compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients. The banks provide […]
The Federal Board of Revenue (FBR) has issued an updated version of the Income Tax Ordinance, 2001 to explain tax treatment of losses under group relief.
ISLAMABAD: In a bid to streamline tax treatment for holding companies and subsidiary companies within a 100% owned group, Section 59AA of the Income Tax Ordinance, 2001 has been explained by the Federal Board of Revenue (FBR).