Withholding tax rate should be increased to 10 percent for immovable property purchase by non-filer

KARACHI: The withholding tax rate should be enhanced to 10 percent for non-filer purchaser of immovable property in the budget 2020/2021. Pakistan Business Council (PBC) in its budget proposals 2020/2021 recommended to... Read more »

FBR exempts withholding tax on commission for Ehsaas Program

ISLAMABAD: Federal Board of Revenue (FBR) has exempted the withholding tax on commission agent for disbursement of Ehsaas Emergency Program. The FBR issued SRO 315(I)/2020 dated April 16, 2020 to make amendment... Read more »

Headline inflation contracts in March to 10.2pc

ISLAMABAD: The headline inflation has contracted to 10.2 percent in March 2020 as compared with inflation in the previous month. Pakistan Bureau of Statistics (PBS) on Wednesday said that Consumer Price Index... Read more »

Oil consumption falls by 40pc during coronavirus lockdown

KARACHI: The oil consumption during last 15 days of the current month has declined by an average 40 percent due to lockdown to control outbreak of coronavirus. Analysts at Topline Securities said... Read more »

Share market gains over 1200 points on tax relief reports

KARACHI: The share market gained over 1,200 points on Tuesday owing to reports of tax relief announced by the government. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,231... Read more »

FBR asks terminal operators to allow 15-day free time for imported cargo

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday asked terminal operators to provide 15-day free time to imported cargo at port area without demurrage and detention charges in the wake of coronavirus... Read more »

FBR further extends sales tax payment date up to April 12

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday extended the last date for payment of sales tax and federal excise duty up to April 12, 2020 for the month of February 2020.... Read more »

FBR appeals taxpayers pay duty, taxes to help government fight against coronavirus

ISLAMABAD: Federal Board of Revenue (FBR) has appealed taxpayers to pay their duty and taxes in order to help the government to fight against coronavirus pandemic. In a statement on Tuesday the... Read more »

APTMA demands restoration of zero-rate sales tax, policy rate reduction to 5pc

KARACHI: All Pakistan Textile Mills Association (APTMA) on Tuesday demanded the government of restoring zero-rate sales tax and reducing interest rate to five percent in order to help the industry and ensure... Read more »

Date for converting bearer prize bonds of Rs40,000 extended to June 30

KARACHI: People now can surrender Rs40,000 denomination bearer prize bonds by June 30, 2020 and exchange the amount with registered bonds or other given options. Finance Division on Tuesday issued a notification... Read more »