FBR explains electronic payment for duty, taxes

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday explained payment of duty and taxes through electronic mode to facilitate trade and industry. The FBR today (Wednesday) initiated e-payment for duty and... Read more »

ECC abolishes value added sales tax, reduces advance tax to 0.25pc on sugar import

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved removal of value added sales tax and reduction of withholding income tax to nominal 0.25 percent on import of white... Read more »

Current account posts $662 million deficit in December

KARACHI: The balance of payment of the country registered a current account deficit of $662 million in December 2020 after posting a surplus for five consecutive months, State Bank of Pakistan (SBP)... Read more »

Ministry approves DLTL claims worth Rs213 million: Razak Dawood

ISLAMABAD: The ministry of commerce has approved Rs213 million against claims of drawback of local taxes and levies (DLTL) by non-textile sector, Abdul Razak Dawood, Adviser to Prime Minister for Commerce and... Read more »

SBP likely keep policy rate unchanged at 7 percent: market poll

KARACHI: The financial market is expecting that the central bank may keep policy rate unchanged at 7 percent in its monetary policy announcement scheduled for January 22, 2021. According to a poll... Read more »

Share market dips by 226 points on profit taking

KARACHI: The share market fell by 226 points on Wednesday owing to profit taking observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,677 points as... Read more »

Rupee gains 11 paisas against dollar

KARACHI: The Pak Rupee gained 11 paisas against the dollar on Wednesday owing to inflows of workers’ remittances and export receipts. The rupee ended Rs160.50 to the dollar from previous day’s closing... Read more »

Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

KARACHI: Advance tax collection from registration of new motor vehicles has surged by 62 percent during first half (July – December) of the current fiscal year (1HFY21). The collection of advance tax... Read more »

SBP to review 7pc policy rate on January 22

KARACHI: The State Bank of Pakistan (SBP) on Tuesday said that it will review the existing key policy rate at 7 percent on January 22, 2021. The SBP said that the Monetary... Read more »

Stock market gains 177 points amid range bound trading

KARACHI: The stock market gained 177 points on Tuesday amid range bound trading activities during the day, The benchmark KSE -100 index of Pakistan Stock Exchange (PSX) closed at 45,903 points as... Read more »