Pakistan Revenue
KARACHI: The Pak Rupee ended down by nine paisas against dollar on Monday owing to higher demand for import and corporate payments, dealers said. The rupee ended Rs168.38 to the dollar from last Friday’s closing of Rs168.29 in interbank foreign exchange market. Currency experts said that the local currency was under pressure due to higher […]
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ISLAMABAD: Persons with lower buying power have witnessed sharp increase in inflation for week ended August 20, 2020 as compared with the same week a year ago. According to data of Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS), the inflation increased more for persons having less buying powers and the inflation […]
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The Federal Board of Revenue (FBR) has updated the withholding tax rates on the purchase of domestic and international air tickets for the tax year 2021. According to the FBR, this update follows the incorporation of amendments made to the Income Tax Ordinance, 2001 through the Finance Act, 2020.
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ISLAMABAD: Federal Board of Revenue (FBR) has implemented a functional system separating functions of enforcement, audit and legal for big taxpayers. This functional system has only been introduced at the large taxpayers units (LTUs) where FBR makes assessment of taxpayers with high annual turnover. In order to implement the FBR has issued jurisdiction orders for […]
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ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rate on payment of educational fee for tax year 2021. The FBR issued withholding tax card 2020-2021 (updated up to June 30, 2020) after incorporating amendment to Income Tax Ordinance, 2001 through Finance Act, 2020. Under Section 236I of Income Tax Ordinance, 2001, every person […]
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ISLAMABAD: Federal Board of Revenue (FBR) has issued withholding tax rates on sales made by manufacturers to retailers, wholesalers and distributors during tax year 2021. The FBR issued the withholding tax card 2020-2021 (updated up to June 30, 2020) incorporating amendment made to Income Tax Ordinance, 2001 made through Finance Act, 2020. Under section 236G […]
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KARACHI: The stock market likely to materialize decision of the apex court related to Gas Infrastructure Development Cess (GIDC) in coming week. Analysts at Arif Habib Limited said that although profit taking at the index was due, materialization of certain decisions recently (GIDC judgment and MOUs signed with IPPs) exacerbated the market performance. With that […]
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KARACHI: The stock market witnessed heavy profit booking on Friday on reports of approval of privatization of two major energy companies. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,621 points as against 39,869 points showing a decline of 247 points (-0.6 percent DoD). Analysts at Arif Habib Limited said that the […]
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KARACHI: The Pak Rupee gained nine paisas against dollar on Friday owing to improved external inflows of the country. The rupee ended Rs168.29 to the dollar from previous day’s closing of Rs168.38 in interbank foreign exchange market. Currency experts said that the external inflows and improved foreign exchange reserves of the country helped the local […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday offered exporters to resubmit their refund claims which were stuck up due to any reason. The FBR said that sales tax refund claims of exporters, which were stuck up at pre-processing stage in Fully Automated Sales Tax e-Refund (FASTER) system due to any reason including erroneous filing […]
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