The Federal Board of Revenue (FBR) in Pakistan is now scrutinizing the source of foreign remittances when the inward transfer exceeds Rs10 million to a recipient in a year.
(more…)Author: Mrs. Anjum Shahnawaz
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Complete VAT system planned under medium term fiscal framework
ISLAMABAD: The government is planning to a complete Value Added Tax (VAT) regime under its medium-term fiscal framework, aiming to make significant changes in taxation, according to sources.
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Abolishing advance tax on share sale, purchase on the cards
KARACHI: The government is reportedly considering the abolition of the advance tax on the sale and purchase of shares in the capital market, a move prompted by the Pakistan Stock Exchange (PSX) and Pakistan Stockbrokers Association’s demands.
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Value added sector seeks tax credit on equity investment for individuals, AOPs
KARACHI: The value added sector, represented by the Pakistan Hosiery Manufacturers and Exporters Association (PHMA), has reached out to Finance Minister Asad Umar, urging the government to grant tax credit for equity investment to business individuals and Associations of Persons (AOPs).
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Rupee eases by 10 paisas in open market
KARACHI: The Pakistani Rupee witnessed a marginal depreciation of 10 paisas against the US Dollar in the open market on Saturday.
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Mini budget to be presented on January 23: Asad Umar
KARACHI: Finance Minister Asad Umar has confirmed that the planned mini budget will be unveiled on January 23, 2019. This update came during his visit to the Karachi Chamber of Commerce and Industry (KCCI), where he elaborated on the government’s intentions behind this financial move.
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Weekly Review: Equity market’s sentiments high on abolishing of advance tax
The equity market’s sentiments are high due to commitment of the prime minister for abolishing the advance tax for stock market.
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President reconstitutes National Finance Commission
ISLAMABAD: In a significant move, President Dr. Arif Alvi has reconstituted the National Finance Commission (NFC), an essential body responsible for fiscal resource distribution in Pakistan.
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KSE-100 sheds 41 points amid cautious trading
KARACHI: The Pakistan Stock Exchange (PSX) experienced a slight downturn on Friday, with the benchmark KSE-100 index shedding 41 points amid cautious trading.
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Rupee ends firmer against dollar
KARACHI – The Pakistani Rupee remained relatively stable against the US Dollar in range-bound trading on Friday, concluding the day’s session at Rs138.85 to the dollar, compared to the previous day’s rate of Rs138.86 in the interbank foreign exchange market.
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