FBR proposes CPEC chapter in Customs Rules

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued draft customs rules for the introduction of a separate chapter on procedures for China Pakistan Economic Corridor (CPEC) related activities. In this regard... Read more »

KCCI demands immediate release of income tax refunds

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to immediately release pending income tax refund claims of small traders, shopkeepers and the SMEs. The... Read more »

Rupee ends down by 22 paisas on demand for import payments

KARACHI: The Pak Rupee ended down by 22 paisas against the dollar on Monday owing to demand for import and corporate payments. The rupee ended Rs160.39 to the dollar form last Friday’s... Read more »

Stock market gains 191 points amid selling pressure

KARACHI: The stock market gained 191 points on Thursday amid to selling pressure prevailed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,345 points as against... Read more »

Association hails decision to probe high car prices

KARACHI: Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has welcomed the decision of the government for probing higher automobile prices in the country. The high prices are mainly due to... Read more »

Foreign exchange reserves fall by $59 million to $20.25 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $59 million to $20.254 billion by week ended December 24, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign... Read more »

Rupee gains 19 paisas against dollar

KARACHI: The Pak Rupee gained 19 paisas against the dollar on Thursday owing to supply of the foreign currency in the market. The rupee ended Rs160.29 to the dollar from previous day’s... Read more »

FBR disappoints return filing date extension seekers with new instructions

ISLAMABAD: Federal Board of Revenue (FBR) on Monday issued new instructions to its tax offices for extension in filing income tax returns in special cases. The new instructions have disappointed tax consultants,... Read more »

Return filing mandatory for Pakistanis having foreign assets

ISLAMABAD: Pakistanis having income and assets abroad are required to file annual income tax return under Section 114 of the Income Tax Ordinance, 2001. According to Section 114 of the Ordinance the... Read more »

FPCCI demands expanding raw material list for reduced income tax rate

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday urged the tax authorities to expand the list of raw material for purpose of reduced income tax rate at import... Read more »