Pakistan Revenue
KARACHI: The liquid foreign exchange reserves of the country have declined by $45 million to $19.518 billion by week ended August 07, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $19.563 billion by week ended July 30, 2020. The official reserves of the SBP slipped […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that it had received overwhelming response to construction industry package and over 4,800 projects have prepared drafts to get registration in the IRIS system.
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KARACHI: The stock market fell by 182 points on Thursday owing to profit taking and the decision of the apex court regarding payment of Gas Infrastructure Development Cess (GIDC). The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,291 points as against the previous day’s closing of 40,473 points showing a decline of […]
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KARACHI: The Pak Rupee gained another 15 paisas against dollar on Thursday owing to inflows of export and workers remittances. The rupee ended Rs167.93 to the dollar from previous day’s closing of Rs168.08 in interbank foreign exchange market. Currency analysts said that the rupee gained value for the third consecutive day. They said that the […]
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KARACHI: State Bank of Pakistan (SBP) has allowed banks to release a maximum amount of $200,000 per year as payment for digital services provided by foreign companies. The central bank on Thursday issued a new mechanism for payments to globally recognized digital service provider companies against acquisition of digital services by local companies for ease […]
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ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on registration and transfer of motor vehicles for tax year 2021. The FBR updated the withholding tax card 2020-2021 (up to June 30, 2020) incorporating amendments made to Income Tax Ordinance, 2001 through Finance Act, 2020. The withholding tax rate under Section 231B on […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued procedure for over-ruling objections raised by Fully Automated Sales Tax e-Refund (FASTER) in order to facilitate taxpayers in obtaining their stuck up amount. The FBR issued Sales Tax Circular No. 01 of 2020 / IR-Operations to unveil the Standard Procedure for Over-Ruling the STARR objections on […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified rules to implement new taxation regime on import of goods, which was introduced through Twelfth Schedule of Income Tax Ordinance, 2001. The FBR issued SRO 715(I)/2020 to notify the rules for implementation of new tax rates on import of goods. Through Finance Act, 2020 new 12th […]
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KARACHI: Pakistan’s budget deficit narrowed to 8.1 percent in FY20 (2019/2020) as compared with the deficit of 8.9 percent in the preceding fiscal year, according to statistics released by the ministry of finance on Wednesday. Analysts Topline Securities said that as the deficit is lower than the 9.1 percent of GDP envisaged by the government […]
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KARACHI: The stock market ended with a decline of 86 points on Wednesday as Supreme Court of Pakistan (SCP) is scheduled to decide Gas Infrastructure Development Cess (GIDC) on August 13, 2020. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,473 points as against 40,559 points showing a decline of 86 points. […]
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