Pakistani rupee continues steady rise against US dollar in interbank

The Pakistani rupee remained stable against the US dollar in the interbank trading on Tuesday, reported 24NewsHD TV channel.

According to the data obtained from the forex traders, the local currency appreciated by 14 paisas against the greenback and was currently being traded at Rs277.80.

On Monday, the Pakistani rupee had settled at Rs277.94 against the US dollar, only one paisa down.

In a key development, the Federal Board of Revenue (FBR) has set April 30 deadline for traders including small shopkeepers to get themselves registered with the Board. The FBR has set the registration deadline for owners of stores, shops, dealers, retailers and warehouses.

The tax will be collected from the traders based on the annual rental value of the shops included in the tax net.

According to the FBR directive, small shopkeepers will have to pay at least Rs1,200 per year as tax.

The FBR has extended by one month the tax registration in six major cities of Pakistan under special scheme.

Shopkeepers who are not in the tax net will be forcibly brought into the tax net after the deadline, the FBR said and added a central database of traders and shopkeepers will be created through the Tajir Dost app.

The collection of tax from the shopkeepers who have joined the tax net will started from July 15 of the next financial year.

Reporter Ashraf Khan