Category Archives: Finance

Forex association decides controlling exchange rate in open market

KARACHI: Forex Association of Pakistan on Wednesday announced penalty up to Rs500,000 for members violating agreed rate of dollar in open market.

FBR urged to rationalize tax on rental income

KARACHI: The Federal Board of Revenue (FBR) has been urged to rationalize tax on rental income from property and investors should be encouraged to declare their genuine income.

Harsh action recommended against officials harassing taxpayers

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended harsh action against officials of Federal Board of Revenue (FBR) found involved in harassing taxpayers.

Industry needs affordable energy to become competitive: KCCI

KARACHI: Industry needs reliable and affordable energy to become productive and competitive besides it should also find an appropriate balance between growing demand for energy and responsibility to protect environment, Muffasar Atta Malik, President, Karachi Chamber of Commerce and Industry (KCCI) said.

Economic Survey 2017/2018 to be launched on April 26

ISLAMABAD: The economic survey for the fiscal year 2017/2018 is scheduled to be announced on Thursday April 26 to highlight the economic progress of the country during the outgoing fiscal year.

Rs80 billion tax relief for salaried persons in budget

ISLAMABAD: The government will announce a tax relief of Rs80 billion for salaried persons in budget 2018/2019.

FPCCI advocates moving to normal tax regime

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has advocated moving to normal tax regime from final tax regime.

FPCCI recommends reduced corporate rate for SMEs

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested reduced corporate rate of 20 percent for small and medium enterprises (SMEs) in order to promote this sector.

FBR urged to reduce capital gain tax to 10pc for filers

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce capital gain tax on securities to 10 percent from 15 percent in case of income tax return filers.

Turnover tax should be made zero percent for textile sector

KARACHI: All Pakistan Textile Mills Association (APTMA) has recommended Federal Board of Revenue (FBR) to make turnover tax at zero percent for textile sector for better management of cash liquidity.