Pakistan Revenue
KARACHI: The Pak Rupee recovered 10 paisas against dollar on Thursday after ease in demand for import payments and report of improved export receipts. The rupee ended Rs168.13 to the dollar from previous day’s closing of Rs168.23 in interbank foreign exchange market. Currency experts said that improved inflows of export receipts and remittances helped the […]
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KARACHI: The State Bank of Pakistan (SBP) on Thursday introduced a separate category of foreign currency account for non-resident and resident Pakistanis, who have assets abroad and declared with the tax authorities. The SBP in a circular said that in order to facilitate the non-resident Pakistanis as well as resident Pakistanis, who have assets abroad […]
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ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on payments for goods and services during tax year 2021. The FBR updated withholding tax card 2020-2021 after incorporating amendments made to Income Tax Ordinance, 2001 through Finance Act, 2020. Under Section 153 of Income Tax Ordinance, 2001 every prescribed person shall collect withholding […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued draft rules to make indemnity bond mandatory for shipping lines intending to use facility of international transshipment cargo within Pakistani sea ports. The FBR issued draft rules through SRO 685(I)/2020 to amend Customs Rules, 2001. According to the draft rules, shipping lines intending to use the […]
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ISLAMABAD: The exports of the country increased by 25 percent in July 2020 as compared with the previous month owing to enhance in economic activities after ease in lockdown, according to data released by Pakistan Bureau of Statistics (PBS) on Wednesday. The country’s exports were at $2 billion in July 2020 as compared with $1.59 […]
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KARACHI: Meezan Bank has successfully launched electronic subscription to IPOs (Initial Public Offerings) for its corporate customers via CDC’s (Central Depository Company) newly launched Master TREC Module in Centralized eIPO System (CES). A statement issued on Wednesday said that using Master TREC in CES, Meezan Bank will allow registered Master TREC Holders (Brokerage Houses) to […]
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KARACHI: The stock market gained 305 points on Wednesday amid activities seen in cement scrips following reports of increase in prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,882 points as against 35,578 points showing an increase of 305 points. Analysts at Arif Habib Limited said that the market opened on […]
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KARACHI: The Pak Rupee weakened by 59 paisas against dollar for third consecutive day on Wednesday owing to higher demand for import and corporate payments. The rupee ended Rs168.23 to the dollar from previous day’s closing of Rs167.64 in interbank foreign exchange market. The rupee fell by around Rs1.25 against dollar during last three trading […]
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KARACHI: Business confidence survey conducted throughout Pakistan during May – June 2020, were largely influenced by the COVID-19 pandemic which has negatively impacted nearly all the businesses, Overseas Investors’ Chamber of Commerce and Industry (OICCI) said in its latest survey released on Wednesday.
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ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on payment made to non-residents for tax year 2021 under Section 152 of Income Tax Ordinance, 2001. The FBR updated withholding tax card 2020-2021 (up to June 30, 2020) after incorporating amendments made through Finance Act, 2020. According to the withholding tax rates: Under […]
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