Pakistan Revenue
KARACHI: Pakistan International Airlines (PIA) has escaped from any financial loss as a result of Airbus A-320 that was crashed on May 22, 2020 a claimed 97 lives, according to annual result for the period ended December 31, 2020. According to the report, the Airbus A-320 was crashed in an accident on May 22, 2020. […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to simplify the withholding tax regime on imported goods under Section 148 of the Income Tax Ordinance, 2001. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2021/2022 urged to FBR to simplify the withholding taxes on goods at the import stage. […]
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KARACHI: The third wave of coronavirus with high number of cases is remained a key risk for the stock market during next week, analysts said. Analysts at Arif Habib Limited said that while the NCOC has advised stricter restrictions and shorter work hours, a complete lockdown on a national level has been ruled out. This […]
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KARACHI: The current account balance of the country has posted surplus of $959 million during first nine months (July – March) of 2020/2021 as compared with a deficit of $4.14 billion in the corresponding months of the last fiscal year, according to data released by State Bank of Pakistan (SBP) on Friday. Due to high […]
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ISLAMABAD: Directorate General of Customs Valuation has been assigned to stop trade based money laundering through effective monitoring of goods clearance specially those goods having lower duty rates or exempt from duty and taxes. The Federal Board of Revenue (FBR) on Friday issued SRO 503(I)/2021 to redefine functions of the Directorate General of Customs Valuation. […]
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KARACHI: The performance of Pakistan Customs is not at par with expectations of trade and industry. This mismatch between expectations and delivery should be resolved effectively, said Shari Vohra, President, Karachi Chamber of Commerce and Industry (KCCI). He said while exchanging views with a delegation of Senior Collectors of 31st Mid-Career Management Course from Directorate […]
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ISLAMABAD: The ministry of commerce has released Rs2.5 billion under Drawback of Local Taxes and Levies (DLTL) to support the exporters in resolving liquidity issues. Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce and Investment, in a tweet on Friday said that the ministry of commerce had released Rs1.15 billion for the […]
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KARACHI: The stock market fell by 223 points on Friday as investors were upset on further restrictions imposed by the government to prevent spread of coronavirus. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,707 points from previous day’s closing of 44,930 points, showing a decline of 223 points. Analysts at Arif […]
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KARACHI: The State Bank of Pakistan (SBP) has imposed around Rs96 million as monetary penalties on top banks for violating regulatory instructions, including instructions related to anti-money laundering (AML) and combating financing of terrorism (CFT), a notification said on Friday. The SBP imposed these penalties during quarter ended March 31, 2021 on Habib Bank Limited, […]
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KARACHI: The Pak Rupee fell by 41 paisas against the dollar on Friday owing to higher demand for import and corporate payments ahead of weekly holidays. The rupee ended Rs153.87 to the dollar from previous day’s closing of Rs 153.46 in the interbank foreign exchange market. Currency dealers said that the market witnessed demand for […]
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