Withholding tax rates on petroleum products
The Federal Board of Revenue (FBR) has released updated rates for withholding income tax on petroleum products, incorporating amendments introduced through the Finance Act, 2021.
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Author: Mrs. Anjum Shahnawaz
Calculation of asset cost for income tax purpose
Section 76 of Income Tax Ordinance, 2001 has defined the procedure for calculating income tax against cost incurred on purchase of assets.
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Customs clears first mango consignment under TIR
Pakistan Customs has successfully cleared the first consignment of mangoes bound for Moscow, Russia, under the International Transportation of Goods – TIR Convention.
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Index gains 346 points on better Afghanistan situation
KARACHI: In a significant market recovery, the benchmark KSE-100 index surged by 346 points on Tuesday, settling at 47,258, buoyed by easing tensions in neighboring Afghanistan.
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ECC approves continuation of subsidy to export sector
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved continuation of subsidy on supply of gas and electricity to export sector. Finance Minister Shaukat Tarin presided over the ECC meeting. The ministry of commerce gave a detailed presentation for continuation of reduced rates of electricity and RLNG to export oriented sectors. Secretary […]
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SRB extends last date for sales tax payment, return filing
The Sindh Revenue Board (SRB) has announced an extension in the last date for payment and filing of sales tax return for the tax period of July 2021.
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Prices of kerosene oil, LDO increased for next fortnight
ISLAMABAD: The government has increased the prices of kerosene oil and Light Diesel Oil (LDO) for next fortnight effective from August 16, 2021. The prices of kerosene oil have been increased by Rs0.81 per liter, from Rs87.49 to Rs 88.30. Likewise, the prices of Light Diesel Oil (LDO) have been increased by Rs1.10 per liter […]
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Meezan Bank launches second vaccination center
KARACHI: Meezan Bank Limited, in collaboration with the Sindh government and DHA Karachi, has launched second COVID-19 drive-through vaccination centre.
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FBR extends last date for payment and return filing
The Federal Board of Revenue (FBR) has extended the last date for payment and filing of returns for the month of July 2021. The decision, communicated through a circular, offers additional time for businesses and individuals to meet their obligations, acknowledging the challenges posed by various factors, including the evolving economic landscape and ongoing global […]
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PKR stability must for economic growth: Anjum Nisar
Mian Anjum Nisar, Chairman, Businessmen Panel and former president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that economic growth is not possible without stability of Pak Rupee (PKR). In a statement issued on Saturday, he urged the government to control instability of rupee against the US dollar, as the greenback […]
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