Pakistan Revenue
KARACHI: Pakistan Business Council (PBC) has recommended the authorities to take additional measures to stop massive under invoicing by commercial importers. In its proposals for the budget 2021/2022, the PBC said that across the board massive under invoicing and dumping of imported products has been increasing. Information regarding values at which various custom check posts […]
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KARACHI: Pakistan Kuwait Investment Company (Private) Limited (PKIC) announces that it is making an equity investment of Rs500 million in Planet N (Private) Limited. This is the largest equity investment by a local Financial Institution in a Tech Investment Platform in Pakistan. It was approved by the Board of PKIC in December, 2020. This investment […]
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The State Bank of Pakistan (SBP) announced on Thursday that the country’s liquid foreign exchange reserves witnessed a significant boost, soaring by $278 million to reach $23.294 billion by the week ending May 28, 2021.
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KARACHI: The stock market fell by 33 points on Thursday owing to profit booking in major scripts during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 48,094 points as against previous day’s closing of 48,127 points, showing a decline of 33 points. Analysts at Arif Habib Limited said that the […]
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KARACHI: Finance Minister Shaukat Tarin has announced that tax audits to be done by third party. Further it has been decided to launch universal self assessment scheme (USAS). “I want to remove harassment by FBR. Although there are good people at FBR but there are also some troublemakers. Hence, we have agreed upon Universal Tax […]
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KARACHI: The Pak Rupee fell by 2 paisas against dollar on Thursday owing to demand for import payment.The rupee closed at Rs 145.79 to the dollar from previous day’s closing of Rs 154.77 in the interbank foreign exchange market.Currency experts said that due to fiscal year end the local currency was under pressure as importers […]
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KARACHI: The concept of separate withholding tax rates for filers and non-filers was introduced as a measure for increasing documentation of the economy. However, no efforts were made to increase the tax base. Pakistan Business Council (PBC) in its proposals for budget 2021/2022 submitted to the Federal Board of Revenue (FBR), said that though large […]
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ISLAMABAD: The government likely to fix Rs5,829 billion as revenue collection target for next fiscal year 2021/2022, sources said on Wednesday. The tax target for the next fiscal year is around Rs134 billion less than the projected revenue collection by the International Monetary Fund (IMF). The IMF has projected an amount of Rs5,963 billion as […]
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KARACHI: The Federal Board of Revenue (FBR) on Wednesday announced transfers and postings of Inland Revenue (IR) officers with immediate effect until further orders. The FBR announced transfers and postings of the following officers: Transfers/Postings of the following officers of the Inland Revenue Service 01. Syed Bilal Mahmood Jafri (Inland Revenue Service/BS-18) has been transferred […]
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KARACHI: The stock market witnessed a decline of 64 points on Wednesday while trading in range bound trading during the day. The Index closed at 48,127 points as against previous day’s closing of 48,191 points, showing a decline of 64 points. Analysts at Arif Habib Limited said that the market traded range bound today, oscillating […]
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