In a bid to streamline the implementation of the Sales Tax Act, 1990, the Federal Board of Revenue (FBR) has been granted the authority to issue instructions or directions under Section 55.
(more…)Author: Hamza Shahnawaz
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Recovery of tax from estate of deceased person
The Federal Board of Revenue (FBR) has provided clarity on the recovery of taxes from the estates of deceased persons and entities undergoing bankruptcy proceedings through the recent amendments to the Sales Tax Act, 1990.
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Today’s currency exchange rates in PKR – Dec 23, 2021
KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on December 23, 2021 (The rates are updated at 10:01 AM Pakistan Standard Time):
Currency Buying Selling Australian Dollar (AUD) 125.10 126.35 Bahrain Dinar (BHD) 386.85 388.60 Canadian Dollar (CAD) 135.75 137.35 China Yuan (CNY) 23.50 23.90 Danish Krone (DNK) 23.50 23.80 Euro (EUR) 199.10 201.10 Hong Kong Dollar (HKD) 16.85 17.10 Indian Rupee (INR) 2.03 2.10 Japanese Yen (JPY) 1.41 1.44 Kuwaiti Dinar (KWD) 481.80 484.30 Malaysian Ringgit (MYR) 36.50 36.85 NewZealand $ (NZD) 96.55 97.25 Norwegians Krone (NOK) 17.50 17.75 Omani Riyal (OMR) 392.75 394.78 Qatari Riyal (QAR) 39.90 40.50 Saudi Riyal (SAR) 47.00 47.45 Singapore Dollar (SGD) 128.00 129.40 Swedish Korona (SEK) 18.60 18.85 Swiss Franc (CHF) 160.00 160.90 Thai Bhat (THB) 4.80 4.90 U.A.E Dirham (AED) 49.10 49.60 UK Pound Sterling (GBP) 234.60 237.10 US Dollar (USD) 178.70 180.50 Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Exchange rates: PKR to USD on December 23, 2021
KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on December 23, 2021:
Buying: Rs 178.70 to the US Dollar
Selling: Rs 180.50 to the US Dollar
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 09:50 AM Pakistan Standard Time (PST).
The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Exchange rates: PKR to AED on December 23, 2021
KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on December 23, 2021:
Buying: Rs 49.10 to the UAE Dirham
Selling: Rs 49.60 to the UAE Dirham
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 09:46 AM Pakistan Standard Time (PST).
The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Exchange rates: PKR to GBP on December 23, 2021
KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on December 23, 2021:
Buying: Rs 243.60 to the UK Pound Sterling
Selling: Rs 237.10 to the UK Pound Sterling
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells the foreign currency from a customer.
The rate has been updated at 09:40 AM Pakistan Standard Time (PST).
The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Exchange rates: PKR to EUR on December 23, 2021
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on December 23, 2021:
Buying: Rs 199.10 to the Euro
Selling: Rs 201.10 to the Euro
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells for foreign currency from a customer.
The rate has been updated at 09:34 AM Pakistan Standard Time (PST).
The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Exchange rates: PKR to SAR on December 23, 2021
KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on December 23, 2021:
Buying: Rs 47.00 to the Saudi Riyal
Selling: Rs 47.45 to the Saudi Riyal
The buying rate means an exchange company or a bank buys foreign currency from a customer.
The selling rate means an exchange company or a bank sells for foreign currency from a customer.
The rate has been updated at 09:31 AM Pakistan Standard Time (PST).
The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
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Meezan Bank starts Islamic financing scheme for SMEs
KARACHI: Meezan Bank has become the first bank in the country to launch Islamic financing scheme for Small and Medium Enterprises (I-SAAF), a statement said on Wednesday.
The launching ceremony was held at Multan Chamber of Commerce and was attended by Dr. Reza Baqir – Governor, State Bank of Pakistan (SBP), other senior officials of SBP, Ariful Islam – Deputy CEO, Meezan Bank, Khawaja Muhammad Hussain – President Multan Chamber of Commerce – and members of the business community.
READ MORE: Meezan Bank to provide eBiz+ services to G&T Group
Under the Scheme, Meezan Bank will extend Shariah-compliant short-term and long-term facilities of up to Rs10 million to eligible customers, at a subsidized rate of 9 percent per annum.
The Scheme was introduced by SBP, and eight participating banks were selected through a transparent bidding process.
Meezan Bank was one of the successful bidders, with a sizeable share in the overall program, and the only Islamic bank offering its Shariah-compliant alternate, in-line with its Vision of establishing ‘Islamic banking as banking of first choice…’
READ MORE: Meezan Bank, Retailo sign agreement to finance youth
I-SAAF will allow access to finance to SMEs that despite being credit-worthy are unable to avail financing due to collateral or other requirements.
While distributing cheques to I-SAAF customers, Mr. Ariful Islam – Deputy CEO, Meezan Bank reaffirmed the bank’s commitment to invest in human resource and technology to ensure success of the Scheme and enable a swift and hassle-free application process for its customers. Ariful Islam also presented a memento to Dr. Reza Baqir for gracing the event with his presence.
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Bank Alfalah enables QR option for retail payment
KARACHI: Bank Alfalah has enabled QR option for retail payment at Naheed Supermarket, a statement said on Wednesday.
Naheed Supermarket, a leading name in the retail shopping sector in Pakistan, has entered into an agreement with Bank Al Falah to enable its Alfa QR at its retail outlet.
The agreement enables the QR payment option for the Alfa QR customers, providing them ease of payment at the Naheed Supermarket, and can also enjoy upto 20 per cent or Rs 1000 cash back by making payment through Alfa QR as the launch promotion.
READ MORE: Bank Alfalah declares Rs10.48 billion after tax profit
The Alfa QR, a product backed by Bank Alfalah, enables the valued users to make payments with just 3 taps within the app.
With AlfaPay the customers can simply scan AlfaQR codes to make instant payments now at Naheed Super market as a Masterpass merchant.
Payments can be made using the Bank Alfalah Account, Credit Card, Wallet or with Orbits.
Sharing his thoughts, Munsub Abrar, CEO Naheed Supermarket said, “We at Naheed Supermarket facilitate our customers in terms of shopping with ease of payments and implementation of Alfa QR facility is our latest addition to it.
READ MORE: Bank Alfalah announces 21% growth in half year profit
“The enablement of digital payment system is aligned with the national vision of Digital Pakistan.”
The agreement was signed by Munsub Abrar, CEO Naheed Supermarket and Adnan Nasir, Head digital Payments, Bank Al-Falah at Naheed’s head office in Karachi, in presence of Abraruddin, Founder and Chairman, Muhammad Fahad COO, Hassan Raza, Head of Creative, from Naheed Supermarket; and Rabia Atlas Unit Head Proximity Payments, Arwa Saleem, Manager Proximity Payments, and Yahya Inam, Business Manager Proximity payments, from Bank Alfalah.