Sunday, 19 May 2024
Trending
How to Check and Verify Vehicle Ownership | Car Registration Online Check 8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 1500 Prize Bond Draw List 15 August 2022 Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online 750 Prize Bond List 2022 | Prize Bond Schedule 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC Prize Bond 750 list 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 Imported LNG prices for gas companies increased Pakistani exporters trying to capture Chinese meat market FBR issued list of business sectors for mandatory income tax integration Tax returns from Karachi city low-income areas surprisingly on top Taxation of gifts in Pakistan FATF awarded another lifeline to Pakistan Which persons require to submit income tax returns ? Staff required/Jobs Alert: Tax Manager, Tax Specialist, Tax Analyst China launches 6G satellite: We are still on 4G Dubai Mall, launched VAT refund kiosks IRS refund status FBR disposed off cases without audit: Notices Issued FBR clarification: good news for overseas Pakistanis for taking exemption from tax on profit on bank deposits FBR launched online module for Greenfield investors status registration State bank issued list of chartered accountants firms for audit of banks Prices of all petroleum products increased: A New Year gift FBR allowed to taxpayers to file settlement application for agreed assessment FBR formed committee to improve Income Tax Return forms Tax audit of Rahat Fateh Ali Khan resumed on information of secret bank accounts Telecom sector tax share increases 129% in FY20: PTA FBR considering proposals to tax benefit to non-resident or overseas Pakistanis Corruption in Pakistan increased more than Afghanistan: Transparency International reveals Sales Tax Relief by Punjab Revenue Authority FBR will launch a track and trace system by July 2021 Income Tax Returns Filing Reached at Top Sales Tax Amendment: FBR to recover arrears through bank account attachment Track and Trace System: Contract signed between FBR and AJCL Naya Pakistan LDA Apartments: Bank of Punjab & LDA Sign Deal State Bank of Pakistan maintains Monetary Policy Rate unchanged at 7pc Soneri Bank declares Rs2,400m profit after tax FBR Exempts Judicial Allowance by Honoring Court Judgment FBR and Provincial Revenue Authorities sign MoU on Single Portal and Return for Sales Tax FATF's condition fulfilled, 15000 and 7500 Prize Bonds to be abolished Chairman FBR Inaugurates Anti-Benami Adjudicating Authority Secretariat Rs. 100 Prize Bond Draw Result & List Dated 17 May 2021 FBR Issues Clarification on Excessive Charge of Duties & Taxes on Mobile Phones Govt called for the National Assembly session on June 11 to present the budget Income Tax Returns Filing for Tax Year 2020 Reaches 2.93m Bad News for Salaried & Retired Employees in Upcoming Budget Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives FBR field offices to remain open till midnight on 30th June
Rast-Digital-Payment-System-State-Bank-of-Pakistan
FINANCE

The State bank of Pakistan launching a new payment system called ‘Raast’

By

SBP going to launch a new digital payment system ‘RAAST’ from next week.

The State Bank of Pakistan (SBP) is ready to introduce a global payment system called ‘Raast’, which will be a huge leap in the digitization of the country’s financial system. Payment systems have been already introduced in modern countries such as the United Kingdom and Australia.

From Monday on wards, the central bank will initiate a new payment system called ‘Rast’, as we believe this a right way forward for the country,” Kamil said.

Kamil | Deputy Governor | State Bank of Pakistan |

This development announced by Deputy Governor SBP, Seema Kamil while talking to private media, he said that the central bank will introduce it from Monday, January 11, 2021. “Because we believe this is the right way forward for the country,” Kamil said.

State Bank of Pakistan (SBP) authorized to non-resident individuals holding Pakistan Origin Card (POC) to open foreign currency account: ALSO READ

“Despite the availability of 160 million mobile phones, our digital economic partnership is very limited, as people rely on cash to pay,”

Deputy Governor | Kamil

Reduction in cash based transactions

Under the new system, the central bank aims to reduce the amount of cash-based transactions, he said, as the existing system creates a number of social problems.

In the first phase, immediate interest-bearing loans would be introduced to shareholders from listed companies. “In the next phase, it will take several months for the payment system to digitize payments to wages and pensions to government employees, which will be faster, freer and safer,”.

Deputy Governor | Kamil
Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Free use of foreign currency account outside Pakistan stopped by government: ALSO READ

See also  FBR suspends implementation of new property valuations rates till January 16

Earlier, SBP Governor Raza Baqir briefed the forum. On the significant progress made since the last stakeholder consultation meeting and the SBP’s key initiatives to facilitate digital payments. He said that the SBP-led Pakistan Instant Payments System project has made significant progress. With the participation of partners and the Prime Minister of Pakistan will soon begin the completion of its first phase. This phase will enable immediate transfer of interest payments to investors’ bank accounts directly through the Central Depository Company (CDC).

That in the next phase, payment system will digitize BISP and Ehsas payments by June. “The system will benefit about 16 million women,”

Deputy Governor | Kamil

This new digital payment system already introduced in some developed countries of the World. Like the United Kingdom and Australia. The Deputy Governor SBP informed that after June, ‘person to person’ payment will start. Till December, a common man can make payment through QR codes.

Deputy Governor Kamil Talking to media

Source | SBP | State Bank of Pakistan | Governor State Bank of Pakistan | Digital Payment System |

See also  Best Classes Online for Tax Courses In Pakistan

LATEST POSTS

Tax-news-in-urdu
http://taxurdu.com
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: