Pakistan Revenue
KARACHI: Adjustable advance tax is applicable for filers and non-filers of income tax return on sales and purchase of immovable properties to be collected at the time of transaction. According to updated Income Tax Ordinance, 2001 issued by Federal Board of Revenue (FBR) the tax shall be collected under Section 236C and Section 236K of […]
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KARACHI: The import of motor cars has sharply declined by 38.34 percent during first eight months of current fiscal year due to certain government checks on preventing misuse of allowed schemes. The import of motor cars in Completely Built Unit (CBU) condition was at $202.9 million during July – February 2018/2019 as compared with $329.06 […]
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KARACHI: The Pak Rupee ended down by 20 paisas against dollar in open market owing to week-end demand. The buying and selling of dollar was recorded at Rs139.00/Rs139.50 as compared with previous day’s closing of Rs138.80/Rs139.30 in cash ready market. The rupee in interbank foreign exchange market ended the week at Rs139.28 to the dollar. […]
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KARACHI: The chairman of Federal Board of Revenue (FBR) Mohammad Jehanzeb Khan on Saturday said that difficult time has started for those having taxable income but still out of tax net. He was addressing the business community at Karachi Chamber of Commerce and Industry (KCCI). The chairman said that it was difficult to bring change […]
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KARACHI: Mohammad Jehanzeb Khan, Chairman, Federal Board of Revenue (FBR) on Saturday said that the revenue body recovered Rs1.85 billion from tax evaders. Talking at Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he said that the revenue body had issued 6,000 notices for recovery of Rs3 billion. The chairman said that the government […]
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KARACHI: The equity market likely to stay range bound next week due to delay in the IMF agreement, analysts said on Saturday. Key near term events include visit of the Malaysian Premier on Pakistan Day (23rd Mar’19) as well as the State Bank of Pakistan’s Monetary Policy this month. Analysts at Arif Habib Limited said […]
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KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of a logistic service provider based in Islamabad for alleged tax evasion. Sources in SRB said that the provincial revenue authority had suspended sales tax registration of M/s. Capital Marketing Services for suppressing sales for evading tax payment for the period July 2014 to June […]
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KARACHI: Pakistan’s current account deficit has narrowed by 22.59 percent during first eight months (July – February) of 2018/2019 owing to increased inflows of foreign remittances and decline in import bill. State Bank of Pakistan (SBP) on Friday issued Balance of Payment (BOP), which showed that the current account deficit reduced to $8.84 billion during […]
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KARACHI: State Bank of Pakistan (SBP) on Friday directed banks to maintain depositor-wise database in order to ensure reimbursement to genuine protected depositors. The SBP in a circular invited the attention of banks on Deposit Protection Corporation Act, 2016 (the Act) and DPC Circular No. 04 dated June 22, 2018 on Deposit Protection Mechanism for […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified transfers and postings of 21 officers of BS-17-21 Inland Revenue Service (IRS) with immediate effect and until further orders. Following IRS officers have transferred and posted: 01. Muhammad Ashfaq Ahmad (Inland Revenue Service/BS-21) has been transferred and posted as Director General, (International Taxes (Operations) Federal Board […]
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