Pakistan Revenue
The inflows of total foreign investment into Pakistan have witnessed a steep decline, plummeting by 72.5 percent to $1.21 billion during the first eight months of the current fiscal year (July – February), compared to $4.42 billion in the corresponding period of the previous fiscal year, according to data released by the State Bank of […]
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KARACHI: The Pak Rupee fell by another nine paisas against dollar on Friday amid foreign currency demand for import and corporate payments. The rupee ended at Rs139.28 to the dollar from previous day’s closing of Rs139.19 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs139.15 and Rs139.20. […]
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ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing income tax returns and wealth statements up to March 31, 2019, which will enable the late filers to become part of active taxpayers list. FBR issued Circular 02/2019 on Friday and extended the last date for salary persons and final taxations which […]
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KARACHI: Banks shall be required to verify valuation of goods before approving electronic or manual import payment in order to prevent incidents of money laundering and terror financing. According to draft “Framework for Managing Risks of Trade Based Money Laundering, Terrorist Financing and Proliferation Financing” issued by State Bank of Pakistan (SBP) banks shall make […]
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KARACHI: Passengers traveling through domestic or international airlines are required to pay certain amount of advance tax on purchase of air tickets. According to Income Tax Ordinance, 2001 issued by Federal Board of Revenue (FBR) passengers of domestic and international destinations are required to pay advance tax under Section 236B and Section 236L.Section 236B: Advance […]
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ISLAMABAD: Federal Board of Revenue (FBR) in a major reshuffle on Thursday transferred 53 BS-19 officers of Pakistan Customs Service (PCS) with immediate effect and until further orders. Following officers have been transferred and posted: 01. Shafqat Ali Khan Niazi (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Director, Directorate of Risk Management, […]
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KARACHI: The foreign exchange reserves were flat at $14.966 billion by week ended March 08, 2019, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country increased by $10 million to $14.965 billion as compared with $14.956 billion a week ago. The reserves held by SBP also increased by $6 […]
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KARACHI: The equity market ended down by 120 points in narrow trading activities on Thursday. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,808 points as against 38,929 points showing a decline of 120 points.
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KARACHI: The Pak Rupee lost 38 paisas against dollar on Thursday after indication of the government for entering IMF program. The rupee ended Rs139.19 to the dollar from previous day’s close of Rs138.81 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.92 and Rs138.99. The market recorded […]
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KARACHI: The government has granted exemption from deduction of income tax on cash withdrawal by non-filers from Pak Rupee bank accounts, which have been opened for receiving foreign remittances. Through Finance Supplementary (Second Amendment) Act, 2019 a clause 101A has been inserted to Second Schedule of Income Tax Ordinance, 2001. It said: “The provisions of […]
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