Pakistan Revenue
KARACHI: Federal Board of Revenue (FBR) has been urged to abolish withholding tax rate at 12 percent on telecom services to promote the accessibility of internet/data services to the low-income group. Similarly, Federal Excise Duty (FED) is charged at 17 percent on telecom services which is on higher side as compared to other sectors, and […]
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ISLAMABAD: Around 367,159 taxpayers have paid surcharge for appearance in the Active Taxpayers List (ATL) for availing exempt or reduced rates of withholding tax on various transactions. According to weekly updated ATL for tax year 2020 issued on Monday the number of active taxpayers increased to 2,545,622 on the basis of income tax return filed […]
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KARACHI: The State Bank of Pakistan (SBP) on Monday issued bank office and business hours during Ramazan-ul-Mubarak 1442 A. H.. The SBP said that the SBP will observe the following office hours during the month of Ramazan-ul-Mubarak, which will also be followed by all bank, Development Financial Institutions and Microfinance Banks. The bank office timings […]
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KARACHI: Taxpayers should not worry on audit notices of past six years as most of those were system generated and Federal Board of Revenue (FBR) is trying to resolve the issue, a top FBR officials said on Monday. While discussing tax issues at Karachi Chamber of Commerce and Industry (KCCI), Dr. Aftab Imam, Chief Commissioner […]
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KARACHI: The equity market witnessed a decline of 208 points on Monday after possibility of imposition of lockdown in the light of NCOC proposal, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,978 points as against last Friday’s closing of 45,186 points showing a decline of 208 points. Analysts at […]
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KARACHI: Dr. Reza Baqir, Governor, State Bank of Pakistan (SBP) has highlighted measures taken by the central bank to boost the debt and capital markets of the country. He was addressing at the Gong Ceremony to mark the beginning of a new chapter of cooperation between SBP and Pakistan Stock Exchange (PSX) on multiple initiatives. […]
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KARACHI: The Pak Rupee gained 19 paisas to close Rs152.75 against the dollar on Monday owing to lower demand for import payment. The rupee maintained gaining momentum against the dollar. The rupee was closed last Friday at Rs152.94 to the dollar in the interbank foreign exchange market. Currency experts said that due to high number […]
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KARACHI: Banks shall remain closed on the first day of Ramaza-ul-Mubarak 1442 A. H. for deduction of Zakat. The Stat Bank of Pakistan (SBP) in a notification issued on Monday said that SBP will remain closed for public dealing on 1st Ramadan-ul-Mubarak, 1442 A.H., which shall be observed as “Bank Holiday” for the purpose of […]
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KARACHI: Securities and Exchange Commission of Pakistan (SECP) has identified false trading by Sindh Bank Limited (SBL) and warned the bank against such activities in future. The SECP said that with reference to correspondence exchanged between SECP and the bank regarding various trades carried out by SBL in ready market during the period from January […]
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KARACHI: The inflow of workers’ remittances has registered 26 percent growth to $21.47 billion during first nine months (July – March) 2020/2021, State Bank of Pakistan (SBP) said on Monday. The inflow of remittances was $17 billion during the same period of the last fiscal year. The SBP said that workers’ remittances extended their unprecedented […]
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