Pakistan Revenue
In a significant development for banking companies, development finance institutions, and Non-Banking Finance Companies (NBFCs), Section 30 of the Income Tax Ordinance, 2001 now allows for the deduction of profits accrued on non-performing debts under certain conditions.
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The Federal Board of Revenue (FBR) has allowed expenditures against bad debt with certain conditions under Section 29 of Income Tax Ordinance, 2001.
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KARACHI: Karachi Port Trust (KPT) has confirmed the sinking of a container laden with sugar through a statement released few moments ago. It is stated: “Truck loaded with sugar cargo while leaving berth number 5, East Wharf, after issuance of bilty encountered mechanical failure at around 5:20 pm today [Saturday], dated: 31.07.2021, fell in port […]
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KARACHI: Around 65,000 industry workers have been vaccinated with the help of Sindh government, said Saleem-uz-Zaman, President, Korangi Association of Trade and Industry (KATI).
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In a move to incentivize investment in employee development and welfare, Section 27 of the Income Tax Ordinance, 2001 allows for the adjustment of expenses incurred on employee training and facilities.
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KARACHI: The apex trade body of the country on Friday urged the Sindh government to review its lockdown decision. The Sindh government announced a strict lockdown in the province to prevent the spread of coronavirus. Mian Nasser Hyatt Maggo, President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) appealed the Sindh government to […]
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KARACHI: The stock exchange ended down by 257 points on Friday after the Sindh government to impose strict lockdown to prevent spread of coronavirus. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,056 points as against previous day’s close of 47,312 points, showing a decline of 257 points. Analysts at Arif Habib […]
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KARACHI: The Pak Rupee ended down by 54 paisas against the dollar on Friday owing to higher demand of the foreign currency for advance import payments. The rupee ended Rs162.43 to the dollar from previous day’s closing of Rs161.89 in the interbank foreign exchange market. Currency experts said that the market witnessed higher demand of […]
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Federal Board of Revenue (FBR) will not extend the last date for filing income tax returns, this was stated by Sardar Ali Khawaja, Chief Commissioner Inland Revenue at the Regional Tax Office (RTO) in Peshawar.
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KARACHI: The Sindh government has expedited work on a proposal to set up a new industrial zone “NKATI 2” like North Karachi Industrial Area. For this purpose a site is being sought and in consultation with the North Karachi Association of Trade & Industry (NKATI). It will be finalized later. This was stated by Minister […]
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