Pakistan Revenue
Section 234 of Income Tax Ordinance, 2001 has defined the rate of advance income tax on motor vehicles to be collected by persons collecting motor vehicle tax. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following […]
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The World Bank (WB) has pointed out unemployment and food inflation as the major challenges for Pakistan’s economy. The World Bank issued a report Shifting Gears: Digitization and Services-Led Development on Thursday. “… downside risks arising from lockdown-induced disruptions to employment and high food inflation remain,” the World Bank said. It projected Pakistan’s output growth […]
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KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 7, 2021 (The rates are updated at 10:00 AM): Currency Buying Selling US Dollar 171.10 172.10 Australian Dollar 122.60 124.10 Bahrain Dinar 386.75 388.50 Canadian Dollar 134.50 137.00 China Yuan 23.45 23.75 Danish Krone 23.45 23.75 Euro 1978.10 199.10 Hong […]
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KARACHI: The State Bank of Pakistan (SBP) has made biometric verification mandatory for foreign currency sale transactions. The central bank on Wednesday issued amendments to the exchange companies manual to stop the undesirable outflow of cash foreign currency. The SBP introduced following regulatory measures: i. Persons travelling to Afghanistan will be allowed to carry only […]
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Karachi Tax Bar Association (KTBA) on Wednesday pointed out that serious technical issues in online return form are not resolved and the date extension granted by the Federal Board of Revenue (FBR) will become useless. The FBR through Circular No. 08 extended the last date for filing income tax return for tax year 2021 up […]
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ISLAMABAD: Ufone has launched its new state-of-the-art contact center for Pakistan Banks’ Association (PBA). The contact center has been launched to resolve queries and generate leads for the Government of Pakistan’s ‘Mera Pakistan, MeraGhar’ helpline initiative, which brings affordable housing finance facilities for low-income groups. The Contact Center was inaugurated by Governor, State Bank of […]
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KARACHI: Officials of Large Taxpayers Office (LTO) Karachi have apprised the business community that installation of Point of Sale (POS) offered reduced rate of sales tax. A team of tax officials from Large Tax Office (LTO) Karachi visited Pakistan Business Council (PBC) on Wednesday to discuss the integration of Tier-1 retailers, a statement said on […]
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KARACHI: The share market fell by 293 points on Wednesday as selling pressure remained unabated during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,373 points as against previous day’s closing of 44,667 points. Analysts at Arif Habib Limited said that selling pressure continued unabated at the bourse, courtesy of […]
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ISLAMABAD: Prime Minister Imran Khan on Tuesday said that taxpayers’ money should be returned to Pakistan from those whose names were revealed by the Pandora papers. The prime minister has chaired a meeting of the federal cabinet. The cabinet was informed that initially, the Prime Minister’s Inspection Commission will meticulously review the record of all […]
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KARACHI: The share market plunged by 378 points on Tuesday owing to rising concerns over the exchange rate and rupee depreciation. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 44,667 points as against the previous day’s close of 45,044 points. Analysts at Arif Habib Limited said that market lost further ground […]
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