Exporters of goods and services, including IT-based services, are allowed to retain a certain portion of their export proceeds in their Special Foreign Currency Accounts. The fund from these accounts, however, could be utilized for specified purposes only. Over time the types of payments that exporters need to make have increased as exports are becoming …
Pakistan’s first EdTech company specializing in e-commerce and digital trade education and practices to train Pakistani youth to sell on Daraz platform. Extreme Commerce and Daraz signed a memorandum to improve eCommerce and digital trade literacy in the country. Although, the State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) are working to introduce a platform that will facilitate …
Pakistan To Cross Rs. 100 Billion ECommerce Trade In 2021 Read More »
Canada’s main securities regulator has cleared the launch of the world’s first exchange-traded bitcoin fund, the investment manager and the regulator said, giving retail investors greater access to the booming cryptocurrency. The Ontario Securities Commission gave Purpose Investments Inc the nod to roll out the Purpose Bitcoin ETF (exchange-traded fund) on the Toronto Stock Exchange. …
KARACHI: The State Bank of Pakistan (SBP) is working on a new type of loan scheme to meet the specific needs of startup companies keeping in view the issues they are facing in raising capital in the form of convertible debt from abroad. According to a working paper titled “Raising of convertible debt from abroad …
KARACHI: Pakistan marked the beginning of 2021 with a digital leap forward following the launch of Raast – Pakistan’s first instant payment system that enables end-to-end digital payments among individuals, businesses and government entities. Launched by Prime Minister Imran Khan on January 11, the initiative is part of his “Digital Pakistan Vision” aimed at including poor segments of society …
The government is planning to launch Pakistan’s first-ever “International Payment Gateway (IPG)” to advance the nation’s digital infrastructure to provide ease of doing business to digital users globally. The Ministry of Information Technology and Telecommunication (MOIT&T), and the National Information Technology Board (NITB), under the auspices of the government of Pakistan, will launch Pakistan’s first-ever IPG …
MOIT and NITB to Launch Pakistan’s First International Payment Gateway Read More »
The Federal Board of Revenue (FBR) has abolished additional customs duty on the import of electric vehicles 2-3 wheelers Completely Built Unit (CBU) condition; electric auto rickshaw, electric motorcycle, and 3-wheeler electric-loader up to June 30, 2025. In this regard, the FBR has issued a notification here on Wednesday to amend S.R.O. 572(I)2020. Under the …
FBR Abolishes Additional Customs Duty on Import of Electric 2-3 Wheelers Read More »
The government has promulgated the Income Tax Amendment Ordinance, 2021 to change the dates for the extension of the tax amnesty scheme for the construction sector. The Income Tax Amendment Ordinance 2021 has amended the relevant provisions of the Income Tax Ordinance, 2001 to extend the deadlines for the developers and builders seeking immunity from …
Govt Announces New Ordinance to Extend Tax Amnesty for Construction Sector Read More »