Author: Hamza Shahnawaz

  • Exchange rates in PKR vs foreign currencies on Sept 23

    Exchange rates in PKR vs foreign currencies on Sept 23

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 23, 2021 (The rates are updated at 11:14AM):

    CurrencyBuyingSelling
    Australian Dollar121.50123.50
     Bahrain Dinar386.60388.36
     Canadian Dollar134.00136.00
     China Yuan23.7023.85
     Danish Krone23.4023.70
     Euro197.50199.50
     Hong Kong Dollar16.6016.85
     Indian Rupee2.032.10
     Japanese Yen1.411.44
     Kuwaiti Dinar481.50484.00
     Malaysian Ringgit36.4036.75
     NewZealand $96.2596.95
     Norwegians Krone17.4517.70
     Omani Riyal392.50394.50
     Qatari Riyal39.7040.30
     Saudi Riyal44.5045.00
     Singapore Dollar123.00124.50
     Swedish Korona18.1018.35
     Swiss Franc159.60160.50
     Thai Bhat4.804.90
     U.A.E Dirham46.4046.90
     UK Pound Sterling231.50234.00
     US Dollar169.40170.30

    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.

  • Prosecution for improper use of NTN Certificate

    Prosecution for improper use of NTN Certificate

    Section 194 of the Income Tax Ordinance, 2001, updated up to June 30, 2021, now explicitly prescribes prosecution for the improper use of the National Tax Number (NTN) Certificate.

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  • Three years imprisonment for undeclared offshore asset

    Three years imprisonment for undeclared offshore asset

    Section 192B of Income Tax Ordinance, 2001, updated up to June 30, 2021, now prescribes severe penalties, including imprisonment for up to three years, for individuals who fail to declare offshore assets or provide inaccurate particulars.

    (more…)
  • Exchange rates in PKR vs foreign currencies on Sept 22

    Exchange rates in PKR vs foreign currencies on Sept 22

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 22, 2021 (The rates are updated at 09:14AM):

    CurrencyBuyingSelling
    Australian Dollar121123
     Bahrain Dinar386.6388.36
     Canadian Dollar133.5135.5
     China Yuan23.723.85
     Danish Krone23.423.7
     Euro198200
     Hong Kong Dollar16.616.85
     Indian Rupee2.032.1
     Japanese Yen1.411.44
     Kuwaiti Dinar481.5484
     Malaysian Ringgit36.436.75
     NewZealand $96.2596.95
     Norwegians Krone17.4517.7
     Omani Riyal392.5394.5
     Qatari Riyal39.740.3
     Saudi Riyal4545.5
     Singapore Dollar121123
     Swedish Korona18.118.35
     Swiss Franc159.6160.5
     Thai Bhat4.84.9
     U.A.E Dirham46.547
     UK Pound Sterling232235
     US Dollar169.5170.4

    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.

  • International payment gateway setup discussed

    International payment gateway setup discussed

    ISLAMABAD: Finance Minister Shaukat Tarin on Tuesday presided over a meeting on the establishment of Pakistan International e-payment gateway (IPG).

    The IPG will pave the way for financial inclusion and payment digitization which is a sub-component of the 09-pillars of the E-Commerce policy.

    Federal Minister for IT & Telecommunication Syed Amin-ul-Haque, Adviser on Commerce Abdul Razak Dawood, CEO NITB Syed Hussain Abbas Kazmi, Secretary Commerce, senior policy analyst and other senior officers participated in the meeting.

    Dr. Reza Baqir, Governor State Bank of Pakistan (SBP) joined the meeting through a video link.

    A consultative session was held with all relevant stakeholders to identify gaps between payment solutions available domestically and its integration with international payment gateway solution providers to promote e-commerce.

    The Adviser on Commerce briefed the participants about the current digital financial landscape in the country.

    SBP governor outlined steps being taken for the financial inclusion of domestic banks.

    Federal Minister for IT and Telecom assured full facilitation in the provision of enabling environment to the service providers as needed under IPG.

    In his remarks, the Finance Minister directed the authorities to follow best international practices and devise a way forward for implementing an international payment gateway ensuring transparency and due consultation with key stakeholders both in public and private sectors.

    The Finance Minister constituted a 04-member Committee headed by the Secretary of Commerce and comprising representatives of the Ministry of Commerce, Finance Division and Federal Board of Revenue (FBR).

    The Finance Minister further directed to seek input from the President, Pakistan Banking Association (PBA) and leading market players from the private sector to understand their requirements and present a framework for further deliberation after 04 weeks.

    In his concluding remarks, the Finance Minister stated that Government will be the facilitator and regulator in a journey towards implementing IPG. The establishment of an international e-payment gateway will improve consumer confidence in E-Commerce through global connectivity

  • Two years jail for income concealment

    Two years jail for income concealment

    Income Tax Ordinance, 2001 has specifically outlined two years jail for concealment of income. Section 192A of the Income Tax Ordinance, 2001, as amended through the Finance Act, 2021 and updated until June 30, 2021, outlines serious legal consequences for concealment of income. According to this provision, any individual who deliberately hides their income or provides inaccurate details during tax proceedings can face strict legal action.

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  • Exchange rates in PKR vs foreign currencies on Sept 21

    Exchange rates in PKR vs foreign currencies on Sept 21

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 21, 2021 (The rates are updated at 09:00 AM):

    CurrencyBuyingSelling
    Australian Dollar120.50122.5
     Bahrain Dinar386.60388.36
     Canadian Dollar133.50135.50
     China Yuan23.7023.85
     Danish Krone23.4023.70
     Euro197.50199.50
     Hong Kong Dollar16.6016.85
     Indian Rupee2.032.10
     Japanese Yen1.411.44
     Kuwaiti Dinar481.50484.00
     Malaysian Ringgit36.4036.75
     NewZealand $96.2596.95
     Norwegians Krone17.4517.70
     Omani Riyal392.50394.50
     Qatari Riyal39.7040.30
     Saudi Riyal44.6545.30
     Singapore Dollar122.75124.00
     Swedish Korona18.1018.35
     Swiss Franc159.60160.50
     Thai Bhat4.804.90
     U.A.E Dirham46.0046.50
     UK Pound Sterling232.50235.50
     US Dollar169.00170.00

    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.

  • Exchange rates in PKR vs other currencies on Sept 20

    Exchange rates in PKR vs other currencies on Sept 20

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 20, 2021 (The rates are updated at 09:51 AM):

    CurrencyBuyingSelling
    Australian Dollar121.6123.6
     Bahrain Dinar386.6388.36
     Canadian Dollar133.1135.1
     China Yuan23.723.85
     Danish Krone23.423.7
     Euro197199
     Hong Kong Dollar16.616.85
     Indian Rupee2.032.1
     Japanese Yen1.411.44
     Kuwaiti Dinar481.9484.45
     Malaysian Ringgit36.6537
     NewZealand $96.497.1
     Norwegians Krone17.517.75
     Omani Riyal392.75394.8
     Qatari Riyal39.740.3
     Saudi Riyal44.4545.05
     Singapore Dollar123.1124.6
     Swedish Korona18.118.35
     Swiss Franc159.6160.5
     Thai Bhat4.84.9
     U.A.E Dirham45.4546.05
     UK Pound Sterling232.6235.1
     US Dollar167.9169.4

    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.

  • Exchange rates in PKR vs other currencies on Sept 19

    Exchange rates in PKR vs other currencies on Sept 19

    KARACHI: The foreign exchange market in Pakistan updated the buying and selling rates for major foreign currencies this morning at 9:40 AM. These rates serve as a crucial benchmark for individuals and businesses engaging in trade, travel, and remittances.

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  • Exchange rates in PKR vs other currencies on Sept 18

    Exchange rates in PKR vs other currencies on Sept 18

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 18, 2021 (The rates are updated at 11:15 AM):

    CurrencyBuyingSelling
    Australian Dollar121.60123.50
    Bahrain Dinar386.60388.36
    Canadian Dollar133.10135.10
    China Yuan23.7023.85
    Danish Krone23.4023.70
    Euro197.00199.00
    Hong Kong Dollar16.6016.85
    Indian Rupee2.032.10
    Japanese Yen1.411.44
    Kuwaiti Dinar481.90484.45
    Malaysian Ringgit36.6537.00
     NewZealand $96.4097.10
     Norwegians Krone17.5017.75
     Omani Riyal392.75394.80
     Qatari Riyal39.7040.30
     Saudi Riyal44.4545.05
     Singapore Dollar123.40124.50
     Swedish Korona18.1018.35
     Swiss Franc159.60160.50
     Thai Bhat4.804.90
     U.A.E Dirham45.4546.05
     UK Pound Sterling232.60235.10
     US Dollar167.80169.30

    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.