Pakistan Revenue
KARACHI: Pakistan Business Council (PBC) has suggested measures for reducing cost of doing business and promoting manufacturing and industrialization. In its tax proposals for budget 20119/2020, the PBC suggested following measures for reducing cost of doing business: Exemption from collection of Withholding tax under section 148 at import stage & exemption for manufacturing concerns under […]
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ISLAMABAD: Federal Board of Revenue (FBR) has established Directorate of Cross Border Currency Movement (CBCM) to stop individual and trade based money laundering and initiate legal action in suspicious transactions. The directorate shall be function under administrative control of the Directorate General of Intelligence and Investigation, Customs, a notification said on Thursday. According to its […]
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KARACHI: Association of Chartered Certified Accountants (ACCA) Pakistan has urged the Federal Board of Revenue (FBR) to bring the immovable property values in line with fair market values to discourage under-valued asset declarations.
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KARACHI: The stock market extended losses on Thursday and fell by 147 points amid continued selling pressure. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,887 points as against 35,035 points showing a decline of 147 points. Analysts at Arif Habib Limited said that despite positive movement in index early today, the […]
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ISLAMABAD: The federal government has appointed Syed Muhammad Shabbar Zaidi as chairman of Federal Board of Revenue (FBR) for the period of two years. The establishment division on Thursday issued a notification in this regard. The notification said that Shabbar Zaidi has been appointed on honorary basis / pro bono basis, for a period of […]
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KARACHI: The rupee depreciated by 27 paisas against dollar on Thursday owing to reports of tough conditions under new IMF loan program. The rupee ended at Rs141.39 to the dollar from previous day’s close of Rs141.12 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.15 and Rs141.20. […]
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KARACHI: The foreign exchange reserves of the country have increased by $229 million to $15.972 billion by week ended May 03, 2019 as compared with $15.742 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves held by central bank increased by $179 million to $8.984 billion as compared […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has flayed hike in air fares by domestic airlines. In a statement issued on Thursday Engr. Daroo Khan Achakzai, President FPCCI and S.M. Muneer, Leader of the Business Community, Former Chief Executive TDAP and Former President of FPCCI showing concern on continuation of abrupt hike […]
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KARACHI: A person, who is required to be get registration, paid sales tax on goods purchased from a registered person shall be treated as input tax. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 59 explained the treatment of tax paid shall be input tax for a […]
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KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has recommended harmonization of federal and provincial tax laws to facilitate the taxpayers. In its budget proposals for fiscal year 2019/2020 the ICAP suggested following measures for harmonization of federal and provincial taxes: Integration of Taxation Authorities for One-Window Solution The ICAP believes, there should be a […]
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