Pakistan Revenue
LAHORE: National Transmission and Dispatch Company Limited (NTDC) has setup Central Control Center at 220 kV grid station, New Kotlakhpat, Lahore to monitor and keep a close liaison with NPCC and all DISCOs during Sehr, Iftar and Traweeh, a statement said on Wednesday. The monitoring cell has been established in compliance of directions of Ministry […]
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ISLAMABAD: Harmonization of sales tax between federal and provincial tax authorities may be completed by end-June 2021, officials in the Federal Board of Revenue (FBR) said on Wednesday. The FBR said that the authorities were in the process of harmonizing the service sales tax across provincial jurisdictions, with support from the World Bank, which will […]
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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the withdrawal of customs duty to ensure smooth supply of cotton and cotton yarns to the value-added industry, while bridging the gap between domestic production and overall demand for the inputs. Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar, chaired […]
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KARACHI: Karachi Tax Bar Association (KTBA) on Wednesday wrote a letter to chairman of the Federal Board of Revenue (FBR) highlighting issues faced by taxpayers on disallowance of input adjustment against entry of provincial invoices. The tax bar said: this is with reference to above cited subject and the following intimation uploaded on the web […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to reduce minimum tax rate for chemical companies having large turnover with low profit margins. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2021/2022 submitted to the FBR, recommended that minimum tax rate should be reduced to 0.2 percent for large […]
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KARACHI: The stock market gained 262 points on Wednesday as investors were remained positive on quarterly financial corporate results. The benchmark KSE-100 index closed at 45,311 points as against previous day’s closing of 45,048 points, showing an increase of 262 points. Analysts at Arif Habib Limited said that first day of Ramadan marked positive opening […]
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KARACHI: Foreign investors have recommended that corporate tax rates for the banking sector should be aligned with other sectors. At present the banking sector is paying 35 percent corporate tax rate as compared with 29 percent corporate tax rate for other sectors. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget […]
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KARACHI: The sales of locally assembled cars registered 37 percent growth in first nine months (July – March) 2020/2021 owing to higher demand following ease in coronavirus restriction during the period. According to Pakistan Automotive Manufacturers Association (PAMA) the car sales recorded 134,522 units during first nine months of the current fiscal year as compared […]
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KARACHI: The share market increased by 71 points on Tuesday in narrow range trading session, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,048 points as against previous day’s closing of 44,978 points, showing an increase of 71 points. Analysts at Arif Habib Limited said that the market traded in […]
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KARACHI: The Pak Rupee fell by eight paisas against the dollar on Tuesday owing to bank holiday a day ahead that may create pressure on import payment demand. The rupee ended Rs152.83 to the dollar from previous day’s closing of Rs152.75 in the interbank foreign exchange market. Currency experts said that the rupee witnessed a […]
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