World’s Highest ATM
The world’s highest ATM is located in Pakistan. The world’s highest ATM of National Bank of Pakistan at the Pak-China border. ATM stands for Automated Teller Machine, and it refers to an electronic device that allows customers of a particular financial institution to carry out financial transactions. The transaction that a customer can perform includes funds transfer, cash withdrawal, and obtaining account information at any … Continue reading World’s Highest ATM
Nida Dar becomes 1st Pakistani woman cricketer to feature in a foreign league.
She will play for Sydney Thunder as their overseas player in Women’s Big Bash League. Nida Dar has become the first Pakistani woman cricketer to feature in a foreign league after she was selected by Sydney Thunder as their overseas professional player in Australia’s Women’s Big Bash League, which will be played from October 18 to December 8. Nida has played 71 ODIs and 96 … Continue reading Nida Dar becomes 1st Pakistani woman cricketer to feature in a foreign league.
Input tax adjustments Allowed
The Federal Board of Revenue (FBR) has allowed 100 per cent input tax adjustments of sales tax to eight sectors. A sales tax notification, SRO1190 of 2019, issued on Thursday, said the restriction of 90pc of output tax would not apply to persons registered in electrical energy sector, oil marketing companies and petroleum refineries and fertiliser manufacturers. The restrictions will also not apply to persons … Continue reading Input tax adjustments Allowed
No need of any mini budget or to increase the GST from 17 to 18 % – FBR
The first quarter is over; and back of the envelope calculations depict the government is likely to meet all the quantitative targets of the IMF for quarter end. There are six quantitative performance criteria- and five are likely to be met (read:”IMF targets- all but primary deficit in place”). The basic calculations assert that primary deficit is likely to be met despite over around Rs114 … Continue reading No need of any mini budget or to increase the GST from 17 to 18 % – FBR
45 big retailers asked to submit import papers by FBR
The Federal Board of Revenue (FBR) has asked the city’s big retailers to furnish documents of proof related to imported goods on sale at their stores after ongoing anti-smuggling surveys, sources said on Thursday. The Federal Board of Revenue (FBR) has asked the city’s big retailers to furnish documents of proof related to imported goods on sale at their stores after ongoing anti-smuggling surveys, sources … Continue reading 45 big retailers asked to submit import papers by FBR
Exports increase 12.5%
Cement industry posted a marginal growth of around three percent year-on-year in sales and exports to 11.133 million tons during the first quarter of the current fiscal year of 2019/20, industry data showed on Wednesday. An industry’s official termed the subdued growth to double-digit decline in uptake from cement factories in southern region. Cement dispatches stood at 10.855 million tons in the corresponding quarter a … Continue reading Exports increase 12.5%
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Reminder
Here’s your friendly reminder that the 2018/19 Tax filing extension deadline for business and individual returns is October 31st! ✔️ Your accountant is going to need some time to work on them before that and you know what they appreciate the most? A great bookkeeper! What’s stopping you? Let’s talk ➡️ 0336-5116392 #TaxExtension #SmallBusinessTips #VirtualBookkeeper Continue reading Reminder
FBR looking in Trust Funds Bank Accounts
The Financial Action Task Force (FATF) under its 27 action plan has asked Pakistan to regulate non-profit organisations, trusts and other activities undertaken on name of welfare so scrutiny of all those is requirement for compliance under the FATF review conditions. In order to ensure compliance on FATF requirements, FBR Chairman Shabbar Zaidi has written letters to all banks and sought details of trust funds … Continue reading FBR looking in Trust Funds Bank Accounts
Pak Suzuki increases prices to 15 and 13 Lakh of Alto Car Variants
The Pak Suzuki Motor Company increased on Monday the prices of two of its Alto car variants, it said in a letter to its dealerships. The new price of Suzuki Alto VXR is PKR 1,308,000, according to the letter. The 660cc Alto VXR comes with AC and manual gear transmission. The new price of Alto AGS is PKR 1,518,000. The variant has automatic gear transmission, … Continue reading Pak Suzuki increases prices to 15 and 13 Lakh of Alto Car Variants
SECP revokes licenses
The Securities and Exchange Commission of Pakistan has revoked the licences of 22 ‘not-for-profit’ organisations for failing to provide financial details, a press release by the Commission said on Wednesday. According to the press release, the licences to operate were cancelled under the Companies Act, 2017, which necessitated that they provide a statement of accounts to the Commission for the first financial quarter (July-September) of … Continue reading SECP revokes licenses
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