Nov 2

PM to launch single sales tax portal this month

ISLAMABAD: Prime Minister Imran Khan is likely to launch the single sales tax portal this month, the Federal Board of Revenue (FBR) said on Thursday. “Building further on its vision to facilitate taxpayers through automation, digitization, and minimization of human interaction with taxpayers, the FBR is all set to launch Single Sales Tax Portal. Prime […]

by Mrs. Anjum Shahnawaz

Tax credit on certain supplies not allowed

Nov 2

Taxation

Tax credit on certain supplies not allowed

Section 8 of Sales Tax Act, 1990 has defined tax credit on certain supplies not allowed. The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021. Following is the text of section 8 of Sales Tax Act, 1990: 8. Tax credit not allowed. – (1) Notwithstanding […]

by Hamza Shahnawaz

Pakistan’s import bill surges by 65% in four months

Nov 2

Finance, Top stories

Pakistan’s import bill surges by 65% in four months

ISLAMABAD: The import bill of Pakistan surged by 65.15 per cent during the first four months (July – October) of 2021/2022, according to official statistics released on Tuesday. The import bill increased to $25.06 billion during the first four months of the current fiscal year as compared with $15.17 billion in the same period of […]

by Faisal Shahnawaz

Stocks gain 138 points on narrowing trade deficit

Nov 2

Stock & Commodity

Stocks gain 138 points on narrowing trade deficit

KARACHI: The stock market gained 138 points on Tuesday owing to a contraction in trade deficit on a monthly basis. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 47,113 points from the previous day’s closing of 46975 points. Analysts at Topline Securities said that bullish momentum continued at PSX as well in […]

by Faisal Shahnawaz

Dollar falls by 75 paisas against PKR in interbank

Nov 2

Money & Banking

Dollar falls by 75 paisas against PKR in interbank

KARACHI: The US dollar fell against the Pak Rupee (PKR) by 75 paisas on Tuesday owing to positive sentiments prevailing in the foreign currency market. The rupee ended at Rs170.54 to the dollar from the previous day’s closing of Rs171.29 in the interbank foreign exchange market. The rupee is continuously making gain against the dollar […]

by Faisal Shahnawaz

Nov 2

Money & Banking

KIBOR rates on November 02, 2021

KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on November 02, 2021. Tenor BID OFFER 1 – Week 7.24 7.74 2 – Week 7.26 7.76 1 – Month 7.30 7.80 3 – Month 8.07 8.32 6 – Month 8.54 8.79 9 – Month 8.75 9.25 1 – Year 8.87 9.37

by Faisal Shahnawaz

SBP issues customers exchange rates for November 02

Nov 2

Money & Banking

SBP issues customers exchange rates for November 02

KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued customers’ exchange rates for November 02, 2021. The exchange rate is on the basis of weighted average rates of commercial banks. The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients. The banks provide their indicative exchange rates for commercial transactions with customers. CURRENCY BUYING SELLING AED […]

by Faisal Shahnawaz

Pakistan’s open market exchange rates on November 02

Nov 2

Money & Banking

Pakistan’s open market exchange rates on November 02

KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 02, 2021 (The rates are updated at 09:45 AM Pakistan Standard Time): Currency Buying Selling Australian Dollar (AUD) 126.5 128 Bahrain Dinar (BHD) 386.75 388.50 Canadian Dollar (BHD) 137 138.5 China Yuan (BHD) 23.75 23.90 Danish Krone (DNK) 23.45 23.75 […]

by Faisal Shahnawaz

SBP rejects reports of financial losses in cyber attack

Nov 2

Money & Banking, Top stories

SBP rejects reports of financial losses in cyber attack

KARACHI: State Bank of Pakistan (SBP) has strongly rejected the media reports of financial losses or data stolen in the recent cyber attack. In a tweet on Monday, the SBP said some fake news regarding cyber security attack on banks is in circulation including remarks attributed to Chief Spokesman Abid Qamar. According to these fake […]

by Faisal Shahnawaz

Nov 2

Auction

Customs I&I to auction imported vehicles on November 5

KARACHI: The Directorate of Intelligence and Investigation (I&I) Customs, Karachi has announced the auction of old and used imported vehicles to be held on November 05, 2021. The directorate to auction the following used and old imported vehicles: 01. Mercedes Benz E-230 Car, Reg. No. AAJ-106, Model-1997 Chassis No. WDB2100372A189414 Color Grey 2294cc 02. BMW […]

by Hamza Shahnawaz