Faisal Shah

Amnesty granted to government employees concealing service in passports

March 19, 2019June 4, 2022Faisal Shahnawaz

ISLAMABAD: The federal cabinet has approved an amnesty for government employees, who concealed their government service in their passports. Directorate General, Immigration & Passport (Headquarters) vide its letter No. 15/01/2019-Policy (Vol-III), dated 11-03-2019 has informed that Federal Cabinet vide Cabinet Division’s letter No. 096/CM/2019-D dated February 22, 2019 has approved proposed amnesty for Government Officers/Officials […]

SBP launches financing facilities for disable persons

March 19, 2019May 22, 2022Faisal Shahnawaz

KARACHI: State Bank of Pakistan (SBP) on Tuesday launches a concessionary Small Enterprise Financing and Credit Guarantee Facility for special persons. Tariq Bajwa, SBP, governor announced this special facility in the 7th meeting of the National Assembly Standing Committee on Finance, Revenue and Economic Affairs held at State Bank of Pakistan. Members of the Standing […]

SCB Pakistan allowed Chinese Yuan clearing, settlement

March 19, 2019October 28, 2021Faisal Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has allowed Standard Chartered Bank, Pakistan to establish local Chinese Yuan Renminbi (CNY) clearing and settlement setup in the country. In a statement on Tuesday, the central banks said that Standard Chartered Bank (SCB) Pakistan can now open CNY accounts of the banks operating in Pakistan to facilitate settlement […]

Equity market falls by 240 points in dull trading

March 19, 2019May 14, 2022Faisal Shahnawaz

KARACHI: The equity market fell by 240 points on Tuesday as dull trading activities prevailed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,612 points as against 38,852 points showing a decline of 240 points. Analysts at Arif Habib Limited said that KSE-100 index opened positive 61 points and […]

Rupee unchanged against dollar

March 19, 2019May 19, 2022Faisal Shahnawaz

KARACHI: The Pak Rupee was remained unchanged against dollar on Tuesday in a range bound trading activity. The rupee ended at Rs139.39 to the dollar, the same previous day’s closing, in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs139.35 and Rs139.40. The market recorded day high of […]

NCCPL to collect capital gain tax on March 29

March 19, 2019June 4, 2022Faisal Shahnawaz

KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) on Tuesday said that it will collect Capital Gain Tax (CGT) on disposal of shares for February 2019 on March 29, 2019. The aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period February 01, 2019 to February 28, 2019, […]

FBR extends last date for submitting customs proposals for budget 2019/2020

March 19, 2019May 30, 2022Faisal Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for submitting customs related budget proposals for 2019/2020. In a notification to all chambers and association, the FBR said that the board issued a letter on January 25, 2019 for submitting customs proposals for budget 2019/2020. The proposals would cover three areas i.e. changes […]

Advance tax on electronic media, cable operators

March 19, 2019May 24, 2022Faisal Shahnawaz

KARACHI: Electronic media and cable operators are required to pay adjustable advance tax at the time of obtaining new license or renewal of license. According to updated Income Tax Ordinance, 2001 issued by the Federal Board of Revenue (FBR), Pakistan Electronic Media Regulatory Authority (PEMRA) shall collect the advance tax at the time of issuance […]

Asad Umar reviews revenue collection, broadening of tax base

March 19, 2019May 14, 2022Faisal Shahnawaz1 Comment

KARACHI: Finance Minister Asad Umar on Monday reviewed the revenue collection progress and ongoing drive of broadening of tax base at a meeting with senior officials of Federal Board of Revenue (FBR).The meeting was attended by Member Inland Revenue Operations Ms. Seema Shakil, Member Customs Operations Agha Jawad, Chief Commissioners Inland Revenue and Chief Collectors […]

FBR adds over 114,000 return filers to ATL

March 18, 2019May 22, 2022Faisal Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has added over 114,000 return filers to Active Taxpayers List (ATL) following the grant of extension in filing income tax returns for Tax Year 2018 up to March 31, 2019. The FBR issued weekly updated ATL 2018 on Monday, which showed the number of active taxpayers increased to 1.75 […]

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Author: Faisal Shahnawaz