Pakistan Revenue
KARACHI: The import of used and old cars massively fell by 55.41 percent during fiscal year 2019/2020 due to condition of payment of duty and taxes through foreign exchange imposed by the government. The import of used and old cars in Completely Built Unit (CBU) condition fell to $99 million during 2019/2020 as compared with […]
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KARACHI: The stock market likely to trade in green owing to expected rise in demand of cement and steel in the wake of incentive provided to housing sector. Analysts at Arif Habib Limited said that the market to remain green especially cyclical sectors to remain in the limelight including cements and steel due to government […]
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ISLAMABAD: Federal Tax Ombudsman (FTO) has advised the Federal Board of Revenue (FBR) to impose penalty for late filing of income tax returns instead extending the last date. The FTO in its annual report recommended that the FBR that instead of extending the last date for filing of Returns, late filing be allowed with certain […]
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KARACHI: Foreign Direct Investment (FDI) into the country registered 88 percent growth to $2.56 billion during fiscal year 2019/2020, State Bank of Pakistan (SBP) said on Friday. The FDI posted $1.198 billion increase during the fiscal year under review as compared with $1.36 billion in the preceding fiscal year i.e. 2018/2019. The inflows under the […]
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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued draft bill to amend Insurance Ordinance 2000 with aim to bridge regulatory gaps in existing laws. The draft law has been placed on SECP’s website for stakeholders and public consultation. The draft bill will address the regulatory gaps in existing law and provide a […]
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KARACHI: The share market continued gaining momentum and increased by 329 points on Friday, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,331 points as against 37,001 points showing an increase of 329 points (+0.9 percent DoD). Market realized a gain of +353 points during the two session and closed […]
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KARACHI: The Pak Rupee depreciated by another 33 paisas against dollar on Friday owing to rising demand of the foreign currency for import payments. The rupee ended Rs167.33 to the dollar from previous day’s closing of Rs167.00 in interbank foreign exchange market. Currency experts said that due to economic normalcy return after ease in lockdown […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified major transfers / postings of senior officers of Inland Revenue Service (IRS) with immediate effect. The FBR notified transfers and postings of following BS-19-22 officers of IRS: 01. Hafiz Muhammad Ali Indhar (Inland Revenue Service/BS-22) has been transferred and posted as Member, (HRM) Federal Board of […]
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ISLAMABAD: The government has abolished advance tax on cable operators and other electronic media that was collected under Income Tax Ordinance, 2001. Through Finance Act, 2020 the Section 236F of the Income Tax Ordinance, 2001 has been deleted. The Section 236F was related to advance tax on cable operators and other electronic media, officials at […]
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KARACHI: Dr Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue on Thursday directed Federal Board of Revenue (FBR) to make payment of all income tax refunds of up to Rs 50 million in the next couple of weeks.
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