Period for filing withholding tax statement reduced

ISLAMABAD: Withholding agents are required to file statement of deduction and collection on quarterly basis instead bi-annual. The change has been brought through Finance Act, 2020 by amending section 165 of the... Read more »

EOBI pension increases to Rs8,500; pensioners to get arrears

ISLAMABAD: The federal cabinet has approved increase in pension of Employees Old-Age Benefits Institution (EOBI) to Rs8,500 from Rs6,500. According to a tweet by EOBI on Wednesday, the federal cabinet approved an... Read more »

SBP disburses Rs96 billion under refinance scheme to dilute COVID impact

KARACHI: Dr. Reza Baqir, Governor, State Bank of Pakistan (SBP) has said that so far around 1320 companies availed SBP’s refinance scheme and a sum of Rs96 billion has been disbursed to... Read more »

Stock market gains 262 points on improved activity in banking scrips

KARACHI: The stock market gained 262 points on Wednesday as improved trading activity was seen in banking scrips. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Index closed at 35,065 points... Read more »

Ban lifted on export of various personal protective equipment

ISLAMABAD: The government on Tuesday lifted ban on export of various personal protective equipment (PPE) with immediate effect. The ministry of commerce issued SRO 526(I)/2020 to amend the Export Policy Order, 2016.... Read more »

OMCs must have 21 days stock of POL products, federal cabinet decides

ISLAMABAD: Authorities to enforce license condition that Oil Marketing Companies (OMCs) must have 21 days stock in order to ensure availability of petroleum products. Prime Minister Imran khan chaired the meeting of... Read more »

MCC Peshawar announces auction of vehicles, auto parts on May 19

ISLAMABAD: Model Customs Collectorate (MCC) Appraisement and Facilitation, Peshawar has announced auction of vehicles and auto parts to be held on May 19, 2020 at State Warehouse (Custom Railway Dry port, Peshawar.... Read more »

FBR extends date for payment, return filing

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing monthly sales tax return and payment for March 2020. In a notification issued on Friday, the FBR extended the... Read more »

FPCCI recommends audit exemption for commercial importers

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended to allow immunity to commercial importers from audit. In its proposals for budget 2020/2021, the FPCCI said that under the... Read more »

SECP facilitates companies in IAS 39 requirements

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SEC) has allowed relief registered companies that are applying IAS 39/principles of IAS 39 (for Available for Sale equity instruments). The SECP issued S.R.O.... Read more »