Withholding tax rates on profit on banking deposits have been updated for tax year 2019. In a significant development for the financial sector, the Federal Board of Revenue (FBR) has announced updated withholding tax rates on profit earned from banking deposits for the tax year 2019.
(more…)Author: Mrs. Anjum Shahnawaz
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Prime Minister reviews progress on CPEC
Prime Minister Imran Khan convened a crucial meeting on Friday to assess the advancements in the China-Pakistan Economic Corridor (CPEC), a transformative economic initiative that has the potential to reshape the economic landscape of the region.
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Colgate-Palmolive to deposit unclaimed dividend amount to national kitty
Colgate-Palmolive (Pakistan) Limited has made a significant announcement by declaring its intention to deposit the amount of unclaimed shares and unpaid dividends into the national treasury.
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Rupee gains two paisas in early trade
The Pakistani Rupee made gains of two paisas against the US Dollar in early trade on Friday. This adjustment in the exchange rate was driven by a lower demand for import payments.
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Late return filers may be allowed entry into ATL
Late return filers of income tax may soon have the opportunity to be included in the Active Taxpayers List (ATL) following proposed amendments to tax laws.
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Sindh government gets share as per NFC formula: finance ministry
The Sindh government is set to receive its share as per the National Finance Commission (NFC) formula, as clarified by the federal finance ministry in a statement released on Thursday.
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Withholding income tax rates at import stage for tax year 2019
Withholding income tax rates that will be deducted at the import stage for the tax year 2019 have been unveiled, giving importers in Pakistan a clear picture of their tax obligations.
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Cargill announces to invest $200 million to grow Pakistan business
Cargill, a prominent global player in the food and agriculture industry, has announced its ambitious plans to invest over $200 million in Pakistan over the next three-to-five years, according to a statement released on Thursday.
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Current account deficit narrows by 4.43pc to $7.98bn in first half
The current account deficit (CAD) has significantly narrowed by 4.43 percent during the first half of the current fiscal year.
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SBP’s reserves fall below $7 billion
KARACHI: Pakistan’s State Bank of Pakistan (SBP) has reported a decline in its official foreign exchange reserves, which have fallen below $7 billion, according to an official statement released on Thursday.
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