Pakistan Revenue
KARACHI: The government has allowed non-filers to purchase locally manufactured motor vehicles but at the same time the advance tax rates for non-compliant taxpayers have been increased by 50 percent. Federal Board of Revenue (FBR) said that the rates have been revised upward on purchase and registration of new locally manufactured cars by non-filers and […]
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KARACHI: State Bank of Pakistan (SBP) has urged Small and Medium Enterprises (SMEs) to avail refinance facilities as the central bank put in place number of refinance facilities both for purchase of plant & machinery for SMEs and working capital finance for special sectors. While speaking to SMEs, Syed Samar Hasnain, Executive Director, SBP at […]
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The equity market saw modest gains on Wednesday, with the benchmark KSE-100 index closing at 38,929 points, up from the previous day’s 38,896 points, marking an increase of 32 points.
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KARACHI: The Pak Rupee maintained level against dollar on Wednesday despite higher demand for import and corporate payments. The rupee ended Rs138.81 to the dollar from previous day’s close of Rs138.82 in interbank foreign exchange market. The interbank foreign exchange market was market initiated in the range of Rs138.80 and Rs138.85. The market recorded day […]
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KARACHI: The income tax filers have started enjoying withholding tax exemption on transactions of money through banking channels. After the implementation of amendments made through Finance Supplementary (Second Amendment) Act, 2019 the income tax return filers are no more required to pay 0.6 percent withholding tax on cash withdrawal. The exemption is applicable on the […]
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KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of plant and machinery by industrial and manufacturing units. The exemption has been allowed through Finance Supplementary (Second Amendment) Act, 2019 under Chapter 84 and 85 of Customs Act, 1969. The FBR said that plant and machinery shall be allowed zero percent customs duty […]
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ISLAMABAD: The government has increased mobile handset levy up to Rs7,000 per set from the date of implementation of Finance Supplementary (Second Amendment) Act, 2019. The government through Finance Act, 2018 introduced mobile hand set levy at different rates as values of smart phones were determined in Pak Rupee value. However, through Finance Supplementary (Second […]
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ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) convened on Tuesday under the chairmanship of Finance Minister Asad Umar and approved a comprehensive Ramazan Relief Package worth Rs2 billion.
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ISLAMABAD: The trade deficit has narrowed by 11 percent during first eight months of current fiscal year owing decline in import bill, Pakistan Bureau of Statistics (PBS) said on Tuesday. The trade deficit shrank to $21.52 billion during July – February 2018/2019 as compared with the deficit of $24.19 billion in the corresponding period of […]
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KARACHI: The Pak Rupee ended flat against dollar on Tuesday amid higher demand for import and corporate demand. The rupee ended Rs138.82 to the dollar from previous day’s close of Rs138.82 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.80 and Rs138.85. The market recorded day high […]
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