Pakistan Revenue
KARACHI: The equity market gained 151 points on Monday to observe positive streak and follow international market movement. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,203 points as against 35,051 points showing an increase of 151 points. Analysts at Arif Habib Limited said that the market went up 187 points during […]
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KARACHI: The State Bank of Pakistan (SBP) on Monday expand the refinance facility at lower rates for health sector in order to combat COVID-19. On March 17, 2020, SBP introduced a refinance scheme, titled Refinance Facility to Combat Covid-19 (RFCC), to support the hospitals and health sector for providing services to directly fight against Covid-19. […]
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KARACHI: The Pak Rupee ended down by 51 paisas against the dollar on Monday owing to higher demand for import and corporate demand. The rupee closed at Rs166.72 to the dollar from last Friday’s close of Rs166.21 in interbank foreign exchange market. Currency experts said that the market was opened after two days weekly holidays […]
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ISLAMABAD: The hotel industry in Pakistan has received a significant tax relief, as the government has allowed businesses in this sector to carry forward losses for a period of eight years starting from the tax year commencing on July 1, 2020. This amendment, introduced through the Finance Act, 2020, was recently approved by the National […]
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ISLAMABAD: Federal Board of Revenue (FBR) has issued formula for computation of capital gain tax on disposal of immovable property as amended through Finance Act, 2020.
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ISLAMABAD: Federal Board of Revenue (FBR) has relaxed the condition for business community by allowing deduction of cash payment up to Rs250,000 while computing business income. According to Finance Act 2020 approved by the National Assembly amendments have been introduced to Section 21 of Income Tax Ordinance, 2001. Section 21 of the Ordinance prescribes a […]
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An attempt by a businessman to suppress sales chargeable to tax in order to reduce tax liability shall be taxed under the head of income from business, according to the Finance Act 2020 recently passed by the National Assembly.
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ISLAMABAD: Federal Board of Revenue (FBR) has given taxpayers a deadline of December 31, 2020 to complete their profile through online system otherwise their name will be removed from active taxpayers list (ATL). The National Assembly approved the new amendment of taxpayers profiling through new section 114A to Income Tax Ordinance, 2001. Section 114A: Taxpayer’s […]
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ISLAMABAD: The government on Saturday removed the chairperson of Federal Board of Revenue (FBR) Ms. Nausheen Javaid Amjad and assigned look after charge to another senior officer of Pakistan Customs Service (PCS) with immediate effect. Ms. Nausheen Javaid Amjad was assigned the post of FBR chairperson on April 08, 2020 after the resignation of Syed […]
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KARACHI: The equity market likely to stay positive in the coming week owing to fall in corona cases during past couple of days.
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