Pakistan Revenue
KARACHI: Any change in the rate of sales tax shall apply at the time of supply or clearance of imported goods, as clarified by Section 5 of the Sales Tax Act, 1990, updated by the Federal Board of Revenue (FBR). This section outlines the specific rules for applying sales tax when rates are adjusted and […]
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ISLAMABAD: The finance ministry has presented a bill in the parliament to amend foreign exchange regulations to stop illegal transactions. A statement on Thursday said that in order to prevent illegal foreign exchange transactions, The ministry of finance has proposed to amend the Foreign Exchange Regulations Act (FERA) 1947 by introducing a bill “FER (Amendment) […]
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KARACHI: Stock market investors now prefer to use electronic IPO platforms to subscribe for new IPOs. In recent Interloop IPO, 43 percent of total subscriptions (both physical and electronic), or around 80 percent of all electronic subscriptions were made through CDC’s Centralized eIPO System (CES), said a statement issued on Thursday. Central Depository Company (CDC)’s […]
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KARACHI: State Bank of Pakistan (SBP) has said that the rupee value to stabilize as large payment was made last week. Talking to representatives of Forex Association of Pakistan (FAP) on Thursday, Executive Director of SBP Syed Irfan Ali Shah said that last week large payments made last week and now the local currency would […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued Audit Policy 2018 and excluded salary persons from selection of audit. The following exclusions have been identified and approved by the Board under relevant rules where selection for audit by the Board is not required. Income Tax i. All cases already selected for audit by the […]
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KARACHI: The foreign exchange reserves of the country increased by $1.924 billion to $17.397 billion by week ended March 29, 2019 as against $15.473 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The reserves held by State Bank increased by $1.931 billion to $10.492 billion by week ended under review as […]
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KARACHI: The equity market declined by 507 points on Thursday due to selling pressure. The benchmark KSE-100 index closed at 37,516 points as against 38,023 points showing a decline of 507 points. Analysts at Arif Habib Limited said that the market took a nose-dive today with 100 index touching a low of 610 points and […]
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KARACHI: The rupee ended stable against dollar on Thursday after government assurance of no link of rupee value with IMF deal. The rupee ended at Rs141.40 to the dollar, the 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 […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday selected total 14,164 audit cases through computerized balloting in income tax, sales tax and federal excise duty cases. The FBR selected 10,982 audit cases under Section 214C of Income Tax Ordinance, 2001. The revenue body selected around 3,126 sales tax cases under Section 72B of Sales Tax […]
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KARACHI – In the early hours of Wednesday, the Pakistani Rupee demonstrated resilience, maintaining its level against the US Dollar in the interbank foreign exchange market.
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