In a bid to provide clarity on the income tax treatment for expenditures or losses that are initially deducted but later compensated, Section 70 of the Income Tax Ordinance, 2001 outlines specific provisions.
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday issued draft paper income tax return form for tax year 2021. The FBR issued SRO 1022(I)/2021 to notify the draft income tax return forms. The revenue body invited objection or suggestions within seven days from date of issuance of the SRO. “Objections or suggestions, which may […]
Section 69 of Income Tax Ordinance, 2001 provides treatment of time for receiving amount under tax law.
The Sindh Revenue Board (SRB) has announced an extension in the last date for payment and filing of sales tax return for the tax period of July 2021.
State Bank of Pakistan
KARACHI – In a move aimed at bolstering small and medium-sized enterprises (SMEs) in Pakistan, the State Bank of Pakistan (SBP) unveiled the SME Asaan Finance scheme on Monday, allowing banks to lend up to Rs10 million to qualifying businesses.
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday said that a limitation of 120 days has been imposed with regard to the period of time during which amendment of assessment under section 122 of the Ordinance must be completed. The FBR in a circular No. 4 Income Tax (Operations) stated that owing to availability […]
KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on August 16, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.95 7.45 1 – Month 7.00 7.50 3 – Month 7.15 7.40 6 – Month 7.31 7.56 9 – Month 7.43 7.93 1 – Year […]
KARACHI: The US dollar appreciated by 19 paisas to the Pak Rupee on Monday owing to higher demand for import payments. The rupee ended at Rs164.19 to the dollar from last Friday’s closing of Rs164.00 in the interbank foreign exchange market. The dollar is about 10 months and nine days high against the rupee. The […]
KARACHI, August 16, 2021: The State Bank of Pakistan (SBP) has published the latest exchange rates for customers on Monday, August 16, 2021.
State Bank of Pakistan
KARACHI: The State Bank of Pakistan (SBP) on Monday announced that the banks shall be closed for two days on August 18 – 19, 2021 on the occasion of Ashura. The central bank in a circular addressing presidents and chief executive officers (CEOs) of all banks that the SBP will remain closed on 18th and […]