Tax collection to reach at Rs5.83 trillion in FY22

Aug 31

Finance

Tax collection to reach at Rs5.83 trillion in FY22

ISLAMABAD: The finance ministry has estimated that the tax collection to reach Rs5.83 trillion during current fiscal year 2021/2022 (FY22). In its monthly economic update – August 2021, the finance ministry said that in FY2021, tax revenue increased by 18.4 percent, whereas in July FY2022, tax collection climbed up by 42.5 percent, indicating a good […]

by Mrs. Anjum Shahnawaz

FBR withdraws all appeals in exemption on remittances

Aug 31

Money & Banking, Taxation

FBR withdraws all appeals in exemption on remittances

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn all the appeals pertaining to income tax exemption on inward foreign remittances. In order to implement the decision the revenue body issued, Circular No. 05 – Foreign Remittances – Exemption. “In order to win the trust of the taxpayers and spare the public resources for more productive […]

by Hamza Shahnawaz

FBR offers help to provinces in broadening agri tax base

Aug 30

Taxation

FBR offers help to provinces in broadening agri tax base

ISLAMABAD: The Federal Board of Revenue (FBR) has offered assistance to the provinces in broadening the tax base in agriculture sector. Under the Constitution of Pakistan, the provinces have mandate to collect tax on agriculture income.

by Mrs. Anjum Shahnawaz

President Alvi asks banks to support research students

Aug 30

Money & Banking

President Alvi asks banks to support research students

KARACHI: The President of Pakistan, Dr. Arif Alvi Monday asked the banks to guide students in their conducting research studies. The President was speaking as the chief guest at the 4th Roundtable Conference on Islamic Banking. The President asked why there was a need to establish a separate organization for research when the students of […]

by Mrs. Anjum Shahnawaz

Biometric verification for PSW inaugurated at KCAA

Aug 30

Pakistan Customs

Biometric verification for PSW inaugurated at KCAA

The introduction of biometric verification for registration on the PSW portal marks a significant milestone in streamlining customs procedures and improving the overall experience for traders.

by Faisal Shahnawaz

Aug 30

Money & Banking

KIBOR rates on August 30, 2021

KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on August 30, 2021. Tenor BID OFFER 1 – Week 6.88 7.38 2 – Week 6.94 7.44 1 – Month 7.00 7.50 3 – Month 7.12 7.37 6 – Month 7.29 7.54 9 – Month 7.40 7.90 1 – Year […]

by Faisal Shahnawaz

SBP enhances investment opportunities for NRPs

Aug 30

Money & Banking

SBP enhances investment opportunities for NRPs

The State Bank of Pakistan (SBP) has announced significant enhancements to the Roshan Digital Accounts (RDA) to further facilitate non-resident Pakistanis (NRPs) in investing and financing opportunities.

by Faisal Shahnawaz

KSE-100 index gains 229 points in mixed trading

Aug 30

Stock & Commodity

KSE-100 index gains 229 points in mixed trading

KARACHI: The benchmark KSE-100 index increased by 229 points on Monday in mixed trading activities. The KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,365 points as against last Friday’s closing of 47,136 points, showing an increase of 229 points. Analysts at Arif Habib Limited said that market performed well after closing the rollover […]

by Faisal Shahnawaz

Dollar rebounds in interbank foreign exchange market

Aug 30

Money & Banking

Dollar rebounds in interbank foreign exchange market

KARACHI: The US dollar made a comeback against the Pak Rupee (PKR) on Monday and gained 34 paisas in the interbank foreign exchange market. The trading in the interbank foreign exchange market ended at Rs165.96 to the dollar from last Friday’s closing at Rs165.62. Currency experts said that the dollar demand remained high during the […]

by Faisal Shahnawaz

FBR invites job applications for 912 posts

Aug 30

Taxation

FBR invites job applications for 912 posts

ISLAMABAD: Federal Board of Revenue (FBR) has invited applications for 912 vacancies in Inland Revenue Service (IRS) for BS-1 to BS-15. The FBR said that applications are invited from eligible candidates against following vacant posts in field formations of Inland Revenue, FBR from Pakistani Nationals on local basis in case of vacancies of (BS 1 to 5) […]

by Faisal Shahnawaz