Pakistan Revenue
KARACHI: Business community on Wednesday rejected the extension in lockdown till July 15, 2020 by the Sindh government and said that procedures should be laid down to allow business activities. Karachi Chamber of Commerce and Industry (KCCI) said urged the provincial government to withdraw the notification immediately. In a statement Siraj Kassem Teli, chairman Businessmen […]
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ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Wednesday suspended online gaming application namely PUBG with immediate effect due to adverse effect on children health. According to a statement issued by the authority it had received complaints from different segments of society. Therefore, it has been decided to suspend the PlayerUnknown’s Battlegrounds (PUBG) game. The PTA has […]
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In response to the ongoing COVID-19 pandemic, the Federal Board of Revenue (FBR) announced on Wednesday an exemption from customs duty on the import of oxygen gas and oxygen gas cylinders. This measure aims to ensure the availability of these essential supplies as the country battles the spread of the virus.
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KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has elected Haroon Rashid as president of the chamber with effect from July 01, 2020. His appointment came following a successful tenure of Shazad Dada, who resigned as the President of OICCI after resigning from Standard Chartered Bank and taking over as President of United Bank […]
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KARACHI: The stock market gained 468 points on Wednesday to begin the new fiscal year 2020/2021 on positive note. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,889 points as against 34,421 points showing an increase of 468 points. Analysts at Arif Habib Limited said that the first day of the financial […]
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ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) increased by 8.6 percent on Year on Year (YoY) basis in June 2020 as compared to an increase of 8.2 percent in the previous month and 8.0 percent in June 2019. Pakistan Bureau of Statistics (PBS) on Wednesday said that on month-on-month basis, it increased […]
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ISLAMABAD: Security forces engaged in anti-smuggling activities to submit monthly seizure report to Federal Board of Revenue (FBR). The FBR issued SRO 578, 579 and 580(I)/2020 to amend Customs Act, 1969 making it mandatory for security forces to furnish monthly report of seizure report to the customs authorities. The FBR has entrusted Frontier Corps, Pakistan […]
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KARACHI: Sindh Revenue Board (SRB) has made mandatory for banking companies to provide quarterly reconciled statement of taxable services provided during the period. The SRB issued notification No. SRB-3-4/17/2020 effective from July 01, 2020 to make it mandatory for banking and non-banking financing companies to submit quarterly reconciliation of sales taxable services provided or rendered […]
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ISLAMABAD: Federal Board of Revenue (FBR) has started preparation for achieving revenue collection target for fiscal year 2020/2021 as it massively increased additional customs duty up to 7 percent from July 01, 2020. The FBR issued SRO 572(I)/2020 on Tuesday for levying additional customs duty at different rates of two percent, four percent and seven […]
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ISLAMABAD: Federal Board of Revenue (FBR) has surpassed revenue collection target of Rs3,907 billion for fiscal year 2019/2020, which was significantly lower due to coronavirus adverse impact on the economy. FBR official spokesman on Tuesday said that the tax authorities had surpassed the downward revised target of Rs3,907 billion and collected Rs3,957 billion be Tuesday […]
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