Pakistan Revenue
KARACHI: Pakistan Stock Exchange (PSX) has recommended the tax authorities to reduce the withholding tax to 2.5 percent from 10 percent to develop the market and increase tax collection. In its budget proposals for 2019/2020, the stock market said that the proposed reduction in the rate of tax on margin financing transactions would help develop […]
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KARACHI: Pakistan Business Council (PBC) – the advisory forum of large corporate entities – has said that commercial importers are involved in massive under-invoicing and they are destroying the domestic industry. In its budget proposals for 2019/2020, the PBC recommended measures for documentation of economy to providing level playing field for domestic manufacturing. The PBC […]
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KARACHI: Utility Stores Corporation (USC) has implemented subsidized rates under Ramazan Package announced by the government to provide relief the masses during the holy month, a top official said on Sunday. “The reduced rates have been implemented across the country from May 03, 2019 around three or four days ahead of Ramazan,” said Muhammad Javed […]
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KARACHI: The sales tax law has explained application of sales tax on taxable activity or transfer of ownership. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR) the law explained the sales of taxable activity or transfer of ownership. Section 49: Sales of taxable activity or transfer of ownership Sub-Section […]
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KARACHI: The Pak Rupee gained 20 paisas against dollar on Saturday amid improved inflows in the open market and tight monitoring of law enforcement agency to prevent money laundering. The buying and selling of dollar was recorded at Rs141.30/Rs141.80 as compared with previous day’s closing of Rs141.50/Rs142.00 in cash ready market. Currency dealers said that […]
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KARACHI: The staff level agreement of the IMF program is expected to restore confidence of the market, analysts said on Saturday.
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ISLAMABAD: The federal government on Friday removed governor of the central bank and chief of the tax collecting agency in the wake of dismal fiscal position of the country and in the presence of visiting IMF mission, reports said. The removal of the heads of top organizations has come at a time when the fiscal […]
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KARACHI: Federal Board of Revenue (FBR) has issued updated withholding tax rates on purchase and registration of motor vehicles. The withholding tax rates have been updated through Finance Supplementary (Second Amendment) Act, 2019 as on March 09, 2019.The withholding tax rate on registration of motor vehicle to be collected by excise and taxation department of […]
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Islamabad: The Economic Coordination Committee of the Cabinet (ECC) has taken a significant step towards providing relief to the masses by approving a reduction of sales tax by five percent.
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ISLAMABAD: The total number of registered companies has increased to 99,291 by end of April 2019, Securities and Exchange Commission of Pakistan (SECP) said on Friday. The SECP said that it registered 1,460 new companies in April 2019 and the majority of them were registered within four hours. As compared to the corresponding month of […]
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