Pakistan Revenue
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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KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed selling and lost around 363 points. But it recovered by end of the day. The benchmark KSE-100 index closed at 47,312 points as against previous day’s close of 47,318 points, showing a decline of 6 points. Analysts at Arif Habib Limited said that the market lost […]
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KARACHI: The Pak Rupee ended firmer against the dollar on Thursday owing to better inflows to meet demand for import payments. The rupee ended at Rs161.89 to the dollar from previous day’s closing of Rs161.90 in the interbank foreign exchange market. Currency experts said that the market had seen dollar demand for import payments. However, […]
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Section 26 of the Income Tax Ordinance, 2001, provides a significant incentive for businesses in Pakistan. The Federal Board of Revenue (FBR) has incorporated this provision, updated up to June 30, 2021, through the Finance Act, 2021, encouraging businesses to engage in scientific research.
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Section 25 of the Income Tax Ordinance, 2001 provides a valuable tax benefit by allowing deductions for pre-commencement expenditure.
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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 […]
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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 […]
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ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a single identifier number for all domestic taxes.
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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.
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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 […]
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