Pakistan Revenue
KARACHI: State Bank of Pakistan (SBP) announced bank holiday on May 01, 2019 on account of Labour Day as declared by the federal government. The central bank in an announcement said that its offices would remain closed on Wednesday, May 01, 2019 on the occasion of Labour Day as declared by the government.
Continue Reading
KARACHI: The prices of essential items has increased by 17.15 percent for higher income group above Rs35,000, according to weekly Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS). The PBS said that the inflation of the income group above Rs35,000 was increased by 17.15 percent by week ended April 25, 2019 as […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has issued updated up to March 09, 2019 for withholding tax rate on cash withdrawal from banking system. The rate card has been updated after amendment to Income Tax Ordinance, 2001 introduced through Finance Supplementary (Second Amendment) Act, 2019. The financial institutions are required to collect/deduct withholding tax under […]
Continue Reading
KARACHI: The stock market is expected to experience positive momentum in the coming week as Prime Minister Imran Khan’s visit to China and the arrival of an International Monetary Fund (IMF) team in Pakistan generate optimism among investors.
Continue Reading
KARACHI: The sales tax laws have empowered officers of Inland Revenue to summon person in legal proceedings for evidence and produce documents. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), Section 37 explains power of IR officers to summon persons. Section 37: Power to summon persons to give evidence […]
Continue Reading
KARACHI: Model Customs Collectorate (MCC) Preventive, Karachi has announced public auction of confiscated vehicles to be held on April 30, 2019 at NMB WHARF, Ghasbandar, East Wharf, Karachi. Following vehicles will be presented for the auction: 01. Mitsubishi Pajero Jeep, Reg. No. GS-2000, Model 1994, Chassis No. V46-4034791 02. Toyota Lexus Car, Model 2006, Reg. […]
Continue Reading
ISLAMABAD: Prime Minister lmran Khan met Ms. Christine Lagarde, Managing Director of International Monetary fund (IMF) on the sidelines of the belt and Road Forum, a statement received here on Friday from Beijing, China. The prime minister was assisted by Foreign Minister Makhdoom Shah Mahmood Qureshi, Adviser on Finance Dr. Abdul Hafeez Shaikh and Adviser […]
Continue Reading
ISLAMABAD: Federal Board of Revenue (FBR) has started collecting withholding tax on phone cards on Friday following the judgment of the Supreme Court of Pakistan (SCP). The apex court a day earlier in its judgment said that it would not interfere the taxation matter. The superior court itself suspended the taxation on phone cards in […]
Continue Reading
KARACHI: Pakistan may not get benefit from the 2nd phase of Pak China FTA as Chinese imports of $2 trillion are either of raw materials or high-tech equipment. “Pakistan does not have the industrial and technical base to produce high-tech equipment such as computers, ICs, telecommunication equipment & automobiles,” Saud Mahmood, Chairman SITE Taxation and […]
Continue Reading
ISLAMABAD: A team of International Monetary Fund (IMF) will visit Pakistan starting April 29, 2019 to continue technical discussions for IMF supported program, spokesman of ministry of finance said on Friday. Dr. Khaqan Najeeb, Adviser and Spokesman, Ministry of Finance said that extensive preparation for data and macro economic framework finalization and structural reforms were […]
Continue Reading