KARACHI – The State Bank of Pakistan (SBP) announced on Monday the launch of a comprehensive mass media campaign to raise awareness and promote the National Financial Literacy Program (NFLP), which aims to enhance financial education and empower individuals across the country.
(more…)Author: Mrs. Anjum Shahnawaz
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Rupee ends down on import demand
The Pakistani Rupee (PKR) saw a minor depreciation of eight paisas against the US Dollar (USD) on Monday, primarily due to heightened demand for the greenback, driven by import and corporate payments.
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Foreign investors spend over Rs20 billion in CSR activities during 2018
Foreign investors who are part of the Overseas Investors Chamber of Commerce and Industry (OICCI) have collectively invested more than Rs. 20 billion under corporate social responsibility (CSR) in Pakistan over the past year, according to Irfan Wahab Khan, President of OICCI.
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Inflation increases more faster for lower income group
In Pakistan, the prices of essential items have witnessed a more rapid increase for lower income groups earning up to Rs8,000 per month in comparison to other income segments.
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Rupee weakens against dollar in early trade
The Pakistani Rupee (PKR) experienced a decline of six paisas against the US Dollar (USD) in early trading on Monday within the Interbank Foreign Exchange Market. The exchange rate now stands at Rs138.91 for one US Dollar.
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Income Tax Ordinance, 2001: Commissioner IR can issue assessment order on day return filed
The Federal Board of Revenue (FBR) in Pakistan has granted the Commissioner Inland Revenue the authority to issue assessment orders against a tax return on the very date it is filed.
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FBR issues updated withholding tax card for Tax Year 2019
The Federal Board of Revenue (FBR) in Pakistan has announced the issuance of an updated rate card for withholding tax for Tax Year 2019, incorporating amendments introduced through the Finance Supplementary Act of 2018.
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Inward remittances above Rs10 million per year require to explain source
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.
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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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