KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 17, 2021:
(more…)Author: Hamza Shahnawaz
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Every amount to be taken in PKR for income tax purpose
Section 71 of the Income Tax Ordinance, 2001 sets forth the requirement that every amount considered for taxation purposes must be in Pakistani Rupees (PKR).
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Income tax on compensation against loss
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.
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Treatment of time for receiving amount under tax law
Section 69 of Income Tax Ordinance, 2001 provides treatment of time for receiving amount under tax law.
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Foreign exchange rates on August 16, 2021
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 16, 2021:
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Withholding tax rates on retailers during 2021-2022
Islamabad, January 12, 2024 – The Federal Board of Revenue (FBR) has announced the withholding tax rates applicable to retailers at the time of sales by manufacturers for the fiscal year 2021-2022.
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Pakistan exports mobile phones to UAE
ISLAMABAD: A consignment of around 5,500 mobile phones carrying tag ‘manufactured in Pakistan’ has been exported the United Arab Emirates (UAE), a statement said.
The statement issued by the Pakistan Telecommunication Authority (PTA) said that its authorization holder Inovi Telecom has started exporting smart phones to other countries.
The first consignment of 5500 units of 4G smart phones carrying ‘Manufactured in Pakistan’ tag has been exported to UAE.
PTA congratulates the company for this landmark achievement. This is the result of concerted efforts for the development of mobile device manufacturing ecosystem in the country.
The successful implementation of Device Identification Registration and Blocking System (DIRBS) and enabling government policies including the Mobile Manufacturing Policy have created a favorable environment for mobile device manufacturing in Pakistan.
As a part of this policy, Inovi Telecom Pvt. Ltd was issued mobile manufacturing authorization by PTA on April 9, 2021. Within 4 months, the company has managed to achieve exporting.
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Customs remain normal amid FBR portal breakdown
The Federal Board of Revenue (FBR) issued a clarification on Sunday regarding the recent disturbance in Customs Operations attributed to the upgradation of the FBR Data Center.
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Foreign exchange rates on August 15, 2021
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 15, 2021:
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Foreign exchange rates on August 14, 2021
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 14, 2021:
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