FBR updates, income tax, budgets and markets for Pakistan
12 articles
To explain the term digital means, amendments have been made to Income Tax Ordinance 2001. A Clause 17B of Section 2 has been inserted to the Ordinance through Finance (Supplementary) Act, 2022.…
Taxpayers are again requesting to Federal Board of Revenue (FBR) that the mandatory condition of digital modes of payment for companies (corporate sector) be allowed simultaneously with other conventional means of payments…
Federal Board of Revenue (FBR) is examining a proposal to further extend time period beyond November 1, 2021 for the corporate sector to shift over to the digital mode of payments. FBR…
State Bank of Pakistan (SBP) releases Annual Payment Systems Review for Financial Year 2020-2021 showing significant growth in the space of digital financial transactions in the country. Mobile banking volume up by…
The State Bank of Pakistan (SBP) is all set to introduce full-fledged digital banking in a month to allow people performing financial transactions without physically visiting banks and to accelerate the financial…
Let us see the taxation of IT and IT enabled services, freelancer and startups. Both income tax and sales tax provisions are here hereby explained. Further, the recent changes in taxation of…
According to the central bank, SBP's flagship initiative provides an easy, fast, low-cost, interconnected and secure electronic payment platform for quick processing of high-volume retail payments. The country's first instant payment system…
Earlier, cardholders needed to activate them through phone banking or ATM. In addition, merchants at Point of Sale (POS) will not be required to enter PIN codes to pay up to Rs…
It allow the government to increase tax collection and allocate more resources in the social sector. It will help increase spending on human capital. Addressing the inaugural function of the National Highways…
A major step towards achieving maximum efficiency in the economy of payment and digitization of sending and receiving. Prime Minister Imran Khan on Monday launched the country's first instant digital payment system…
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…
WhatsApp has introduced a free payment service in India. It will soon become the world's most popular messaging application super app. The service will allow people to send money to their loved…