Pakistan Revenue
KARACHI: Pakistan’s premier conglomerate, Engro Corporation, has announced investment in telecom infrastructure. The investment has been approved by board of directors of the corp. in its meeting held on April 25, 2019. The BoD also approved financial results for the quarter ended March 31, 2019. Engro Corporation, in light of its long-term strategy, has streamlined […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Friday set-aside penalty imposed on four officials of Customs collectorate Quetta with future warning. The FBR Member Admin as appellate authority accepted the appeal of four customs officials of BS-16 including Muhammad Arif Dostani, Muhammad Arif, Ghulam Hussain Khoso, Saleem Akhtar, and set aside the minor penalty imposed […]
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ISLAMABAD: Prime Minister Imran Khan on Friday met Ms. Kristalina Georgieva, Chief Executive Officer (CEO) of the World Bank discussed economic and fiscal situation on the sidelines of the second Belt and Road Forum (BRF), says a press release received here from Beijing, China. The prime minister was accompanied by the foreign minister and adviser […]
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KARACHI: The equity market gained 335 points on Friday amid optimistic sentiment over IMF loan program. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,130 points as against 36,796 points showing an increase of +335 points. Analysts at Arif Habib Limited said that the market increased consecutively with another 362 points during […]
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KARACHI: The Pak Rupee was remained unchanged against dollar on Friday for the 10th consecutive trading day. The rupee ended Rs141.40 to the dollar, same previous day’s level, in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40. The market recorded day high of Rs141.40 and […]
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KARACHI: Pakistan Stock Exchange (PSX) has advised the government to introduce a scheme for attracting investment from large black economy. In its budget proposals for fiscal year 2019/2020 the stock exchange advised the government to introduce a mechanism and regulatory structure for the launch of registered savings and investment accounts (RSIA) to help channel savings […]
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KARACHI: The earning of Pakistan Stock Exchange (PSX) during first nine months of current fiscal year fell by 10.6 percent due to elimination of tax on bonus shares, which results no dividend received by the capital market. The stock market on Friday released its financial report and said that its earnings were Rs59 million during […]
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KARACHI: Federal Board of Revenue (FBR) has updated tax rate for salary persons as per Finance Supplementary (Second Amendment) Act, 2019. The tax card is updated up to March 09, 2019. The FBR said that persons responsible for paying salary are required to collect tax from employees under Section 149 of Income Tax Ordinance, 2001 […]
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KARACHI: A person willfully does not make sales tax payment or commits fraud shall liable to pay default surcharge along with actual amount. According to updated Sales Tax Act, 1990 issued by the Federal Board of Revenue (FBR) the default surcharge has been explained through Section 34. Section 34: Default Surcharge Sub-Section (1): Notwithstanding the […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified rules to make Alternate Dispute Resolution Committee (ADRC) functional for cases in sales tax and federal excise. The FBR issued SROs 488 and 489 (I)/2019 to notify the rules. The ADRC is required to decide a case within 120 days and the decision will have binding […]
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