Increase in the price of imported products not only benefited the local businesses but decreased the current account deficit by 64% The country’s current account deficit (cad) in the first quarter of current fiscal year declined by a huge 64% mainly on the back of a 21pc reduction in the imports bill. The State Bank’s latest data issued on Friday showed the current account deficit … Continue reading Imports drop, Exports rise by $99m
In his recent visit to China, PM Imran Khan pitched five reasons why the Chinese or investors from any other country should invest in Pakistan. Before those reasons start becoming viral, among those blinded by optimism, a reality check is warranted. Khan’s first bullet point was strategic location. If history is any guide, that strategic location has given this country more headaches than benefits. In … Continue reading Why you should INVEST in Pakistan
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%
The first payment through FASTER module, against the refund claims for the tax period July, 2019, has been made on 2nd September, 2019, and the State Bank of Pakistan has confirmed the credit of the refund amount in the bank account of the claimant. It is highlighted that only 9 refund claims of five exporter-oriented sectors were received by Friday, the 30th August, 2019, and … Continue reading FBR RELEASES FIRST TRANCHE OF SALES TAX REFUNDS PROCESSED THROUGH FASTER SYSTEM
The Federal Board of Revenue (FBR) is claiming that it will now pay sales tax refunds through the newly installed Fully Automated Sales Tax e-Refund (FASTER) system to exporters of five sectors within 72 hours of submission of refund claims. The Federal Board of Revenue (FBR) is claiming that it will now pay sales tax refunds through the newly installed Fully Automated Sales Tax e-Refund … Continue reading FBR – tax refunds for exporters within 72 hrs
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