Pakistan Revenue
KARACHI: State Bank of Pakistan (SBP) has started implementing Treasury Single Account (TSA) and directed all banks to close all accounts related to government authorities. In a communication issued on Wednesday, the SBP said that the Finance Division, Government of Pakistan (GoP) vide their letter F.No.1(1)/S.O(TSA)/2020 dated August 19, 2020 has directed all Federal Government […]
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KARACHI: The State Bank of Pakistan (SBP) has adopted a policy of carrot and stick for banks related to mandatory targets for housing/construction financing.
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ISLAMABAD: Teachers and researchers have availed tax exemption to the tune of Rs2.42 billion on their income during Tax Year 2020, official sources said on Tuesday. Under Clause 1(2) of Part 3 of the Second Schedule of Income Tax Ordinance, 2001, full time teachers or researchers are entitled for reduction in tax liability since 2006 […]
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ISLAMABAD: Federal Board of Revenue (FBR) has estimated an amount of Rs69.5 billion annual loss of tax on agriculture income, sources said on Tuesday. In a report the FBR said that agricultural income is exempt from income tax under section 41 of the Income Tax Ordinance, 2001. However, it falls under the provincial domain as […]
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KARACHI: The stock market posted a gain of 55 points on Tuesday, recovering from a significant fall earlier in the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 39,127 points, up from 39,072 points, marking an increase of 55 points.
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KARACHI: The Pak Rupee strengthened by 29 paisas against dollar on Tuesday owing to improved inflows of export receipts and workers’ remittances.
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The Federal Board of Revenue (FBR) has granted income tax exemptions totaling Rs27 billion during the tax year 2020 to power generation companies operating in Pakistan. These exemptions were extended to 73 companies, underlining the government’s efforts to support the energy sector.
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ISLAMABAD, September 15, 2024 – The Federal Board of Revenue (FBR) has reported a sharp decline in the collection of withholding tax (WHT) by 52% during the tax year 2020, following the abolishment of the tax for income tax return filers.
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ISLAMABAD: The ministry of commerce has recently issued Export Policy Order 2020 under which export of gift parcels of a value exceeding five thousand US dollars are not allowed. The ministry issued SRO 901(I)/2020 dated September 25, 2020 and explained export of goods allowed under the policy. Export of goods (1) Export of all goods […]
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The Mutual Funds Association of Pakistan (MUFAP) and the Central Depository Company (CDC) of Pakistan Limited, through its subsidiary ITMinds Limited, have signed a Memorandum of Understanding (MoU) to develop and implement a state-of-the-art digital platform.
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