Section 25 of the Income Tax Ordinance, 2001 provides a valuable tax benefit by allowing deductions for pre-commencement expenditure.
Google is the first big tech company to announce a vaccine requirement for returning to its offices. The decision may push other tech companies to follow with similar moves. Google will now require employees who work in its offices to be fully vaccinated and is pushing back its start date for when they need to […]
New York City Mayor Bill de Blasio has announced to pay $100 for people to get vaccinated against the coronavirus. New Yorkers, who get their first vaccine dose, starting Friday at a city-run vaccination site will get a $100 incentive, the mayor announced Wednesday. News reports quoted De Blasio as saying the $100 will make […]
ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a single identifier number for all domestic taxes.
KARACHI: Tax practitioners in Karachi have brought to light a concerning issue where banks are deducting withholding tax on proceeds from the exports of computer software and IT-enabled services, despite these being granted a 100% tax credit.
ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of ‘dismissal from service’ upon a senior tax auditor for misconduct. Syed Ali Hussain, Senior Auditor (BS-16), Large Taxpayers Office, has been removed from service for absence from office without authorized leave. According to an office order issued on Wednesday, the FBR said disciplinary proceedings […]
KARACHI: Pakistan Stock Exchange (PSX) tumbled on Wednesday over growing concerns related to COVID lockdown. The market also fell on probe by regulator for unusual price movement in certain stocks. The benchmark KSE-100 index closed at 47,318 points as against 47,687 points, showing a decline of 369 points. Analysts at Arif Habib Limited said that […]
The Federal Board of Revenue (FBR) has clarified the provisions related to amortization deductions for intangibles in Section 24 of the Income Tax Ordinance, 2001, through updates issued up to June 30, 2021.
Pakistan and Saudi Arabia have agreed to strengthen economic ties, marking a significant step in the long-standing bilateral partnership between the two countries.
State Bank of Pakistan
KARACHI: The State Bank of Pakistan (SBP) on Monday kept the policy rate unchanged at 7 per cent for next two months. The SBP said that at its meeting on July 27, 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent.