Determination of values for imports and exports under Customs Act

KARACHI: Federal Board of Revenue (FBR) has issued Customs Act, 1969 updated up to June 30, 2019 incorporating changes brought through Finance Act, 2019. Read more »

FBR to collect FED on steel products, rescinds sales tax notification

KARACHI: The government has decided to collect federal excise duty from steel products instead of sales tax. In this regard the Federal Board of Revenue (FBR) has issued 992(I)/2019 dated September 04,... Read more »

Salary tax slabs for filing returns tax year 2019

KARACHI: The salaried person shall follow the following slabs for filing income tax returns for tax year 2019 which is due on September 2019. Read more »

Insurance sector growth continues; assets increase to Rs1,207 billion

KARACHI: The assets for the Life Insurance sector grew by 11.92 percent to Rs1,207 billion for CY18 as life insurers increased their Total Investments by 13.52 percent to Rs997 billion; investments now... Read more »

Pakistan not renegotiating IMF-program

ISLAMABAD: Pakistan is not renegotiating IMF program and the country remains committed to implement the policies and reforms spelled out in the IMF-supported program, said a clarification issued on Friday. Read more »

Tax payment made must for return filing date extension

ISLAMABAD: In order to achieve first quarter target the Federal Board of Revenue (FBR) has directed all the chief commissioners of Inland Revenue to ensure payment of taxes before allowing extension in... Read more »

Procedure to get income tax registration for return filing

KARACHI: The income tax return filing by salaried persons, business individuals and Association of Persons (AOPs) is due on September 30, 2019. In order to file return one should get income tax... Read more »

Rupee appreciates by 82 paisas in interbank market

KARACHI: The Pak Rupee appreciated by 82 paisas against dollar on Friday owing to improved economic indicators. Read more »

Share market ends down by 539 points on border, political conflicts

KARACHI: The share market witnessed another decline of 539 points on Thursday amid escalating conflict between Pakistan and India and arrest of PML-N leader by National Accountability Bureau (NAB). Read more »

Foreign exchange reserves fall by $41 million to $15.02 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $41 million to $15.02 billion by week ended August 02, 2019 as compared with $15.061 billion a week ago, State Bank... Read more »

Rupee ends unchanged against dollar

KARACHI: The Pak Rupee ended unchanged against dollar on Thursday despite inflows of remittances and export receipts. Read more »

Meezan Bank, Indus Motors sign MoU for priority vehicle delivery

KARACHI: Meezan Bank – Pakistan’s leading Islamic bank – has recently signed a Memorandum of Understanding with Indus Motor Company Ltd (IMC) – one of the largest automotive manufacturers and distributors in... Read more »