Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday allowed taxpayers to submit their stock position for the period July–January 2019/2020 up to July 31, 2020 in order to claim sales tax refunds under newly only verification and issuance system. In an official memorandum issued, the FBR extended the time limit for filing of Annexure – […]
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KARACHI: The share market gained 171 points on Tuesday in a mixed trading activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,373 points as against 35,203 points showing an increase of 171 points. Analysts at Arif Habib Limited said that the market continued ascent today with the benchmark […]
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KARACHI: The Pak Rupee weakened by 23 paisas on Tuesday owing to demand for import and corporate payments. The rupee ended at Rs166.95 to the dollar from previous day’s closing Rs166.72 in interbank foreign exchange market. Currency experts said that due to enhanced economic activities after ease in lockdown the importers were seen active to […]
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ISLAMABAD: Muhammad Javed Ghani has assumed additional charge of chairman Federal Board of Revenue (FBR) on Tuesday after removal of Ms. Nausheen Javed Amjad from the post of FBR chairperson. A notification issued by the FBR, Muhammad Javed Ghani, an officer of Pakistan Customs Service BS-22 assumed the additional charge of the post of chairman […]
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KARACHI: The federal government has borrowed Rs2,413 billion from commercial banks during fiscal year 2019/2020 as against retirement of Rs771.6 billion in the preceding fiscal year, according to statistics released by State Bank of Pakistan (SBP) on Monday.
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ISLAMABAD: Persons falling under final tax regime are now required to file annual income tax returns. In this regard amendment has been made through Finance Act, 2020.
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ISLAMABAD: Federal Board of Revenue (FBR) has imposed restriction on deduction of profit on debt payable to associated enterprise in order to comply with OECD action on profit shifting. The restriction has been imposed through introduction of Section 106A of Income Tax Ordinance, 2001 through Finance Act, 2020, recently passed by the National Assembly of […]
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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued draft Professional Clearing Members (PCM) Regulations, 2020 for public consultation. Professional clearing members denotes the concept of a third party independent institution, which will offer custodial and clearing/ settlement services to securities brokers and their customers. PCM can be a financial institution, such as […]
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KARACHI: Sindh Revenue Board (SRB) on Monday revised jurisdiction of commissioners with effect from July 06, 2020. Following is the revised jurisdiction of commissioners: Commissioner-I Unit 2: Hotels, motels and Guest Houses; restaurants; marriage halls and lawns; caterers; clubs and race clubs; event management services and exhibition services; out-door photographers and videographers; indoor sports and […]
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KARACHI: The foreign investors operating in Pakistan have showed satisfaction over security environment especially after quick response of law enforcement agency against failed terror attack on Pakistan Stock Exchange (PSX). “The smooth and professional handling of the brazen attack on Pakistan Stock Exchange on June 29, and restoring order within a very short time, is […]
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