Trends - income tax - Business Recorder

income tax

Improving tax compliance

The caretaker government has set up a tax reforms taskforce to come up with recommendations to close the ‘tax...

Published 03 Oct, 2023 06:02am

Business & Finance

Insurance industry paid Rs34.3bn against taxes, duties in 2022

ISLAMABAD: The insurance industry has paid taxes/duties of Rs34.3 billion to the exchequer during 2022 including...

Updated 03 Oct, 2023 08:43am

Business & Finance

FBR confirms tax return filing deadline extended by 1 month

The Federal Board of Revenue (FBR) on Saturday said the date of date of filing income tax returns for Tax Year 2023...

Published 30 Sep, 2023 11:54pm

Tax return filing deadline likely to be extended by 1 month

ISLAMABAD: The Federal Board of Revenue (FBR) may grant a one-month extension in filing of income tax return forms,...

Updated 29 Sep, 2023 09:56am

Business & Finance

FBR should provide 90 days for submission of tax returns: PTBA

LAHORE: The Pakistan Tax Bar Association (PTBA) has demanded that the chairman of the Federal Board of Revenue ...

Published 29 Sep, 2023 06:24am

IRIS system’s capacity enhanced: Up to 0.6m taxpayers to file tax returns on a daily basis

ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced the capacity of the IRIS system enabling 0.5-0.6 million...

Updated 28 Sep, 2023 10:20am

Opinion

Super tax for tax year 2023: hiked rate cannot be applied with retrospective effect

In our Technical Release 1/2023 relating to the Finance Act, 2023, which was issued on June 9, 2023, our view was...

Updated 26 Sep, 2023 07:32am

Business & Finance

FBR urges citizens to file income tax return by September 30, 2023

KARACHI: As the fiscal year comes to a close, the Federal Board of Revenue (FBR) urged taxpayers across Pakistan to...

Updated 26 Sep, 2023 12:21pm

Business & Finance

FBR urged to extend income tax return deadline

ISLAMABAD: Tax bar associations, chartered accountant firms, tax advisers and tax experts have approached the...

Updated 25 Sep, 2023 09:15am

Manual filers declared as active taxpayers by FBR

ISLAMABAD: Following intervention of the Federal Tax Ombudsman (FTO), the Federal Board of Revenue (FBR) has...

Updated 20 Sep, 2023 09:42am

Opinion

Administrative crackdown: will it work?

The State’s crackdown against the smugglers and illegal currency traders has met with initial success. The fear...

Updated 18 Sep, 2023 07:40am

System errors in filing income tax returns, wealth statements irk taxpayers

ISLAMABAD: Taxpayers are facing different problems including technical issues/ errors in timely filing of income tax...

Updated 18 Sep, 2023 10:26am

Govt depts, hospitals, LG and defence institutions: Updated list of FTN recipients issued by FBR

FBR to take policy decision on the issuance of the FTNs to the govt authorities including local govt departments and Tehsil municipal authorities seeking tax exemptions

Updated 17 Sep, 2023 10:52pm

Opinion

Tax expenditure as subsidy to elites: myth or reality?

In the last ten or so years, economic issues and tax collection by FBR has been brought increasingly under focus....

Published 12 Sep, 2023 06:51am

FBR ‘rues’ WHT deduction on mobile cards

ISLAMABAD: The Federal Board of Revenue (FBR) has criticised its policy of withholding tax deduction on mobile...

Updated 12 Sep, 2023 09:13am

Unchallenged tax demand case: FTO waiting for tax officials’ response

ISLAMABAD: The Federal Tax Ombudsman (FTO) is waiting for the response of the Federal Board of Revenue (FBR), Chief...

Updated 11 Sep, 2023 09:05am

Solar panel imports: Rs73bn illicit fund transfers detected

KARACHI: Directorate of Post Clearance Audit (South), Karachi has unearthed a complex web of deceit and fiscal fraud...

Updated 06 Sep, 2023 10:25am

Immovable properties: FTO takes major step to help resolve valuation issue

ISLAMABAD: The Federal Tax Ombudsman (FTO) has started a massive exercise to resolve the problems of the general...

Updated 06 Sep, 2023 09:55am

Business & Finance

‘Some Discos claim tax credit without deducting WHT’

LAHORE: Some power distribution companies (Discos) are allegedly claiming tax credit without deducting and ...

Published 05 Sep, 2023 06:22am

COAS explains to businesspeople SIFC potential

Emphasises Special Investment Facilitation Council's potential to attract substantial investments of up to 100 billion dollars from countries such as Saudi Arabia, UAE, Kuwait and others

Updated 04 Sep, 2023 11:39am

FTO summons senior FBR members for declaring manual income tax filers as inactive

ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned senior Federal Board of Revenue (FBR) members in an...

Updated 04 Sep, 2023 09:26am

Pakistan

Concern voiced over smuggling of goods

KARACHI: President United Business Group (UBG) Zubair Tufail has expressed his serious concern over the large-scale...

Published 03 Sep, 2023 02:59am

Business & Finance

July-August: Rs24bn surge in revenue collection

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs 1,207 billion during the first two...

Updated 01 Sep, 2023 09:10am

Business & Finance

Non-resident companies: Income tax dept levying super tax in negation of double taxation treaties

LAHORE: The income tax department is allegedly levying supper tax in negation of the treaties for the avoidance of...

Updated 31 Aug, 2023 06:36am

Beneficial owners: Corporate sector asked to retain records for 10 years

ISLAMABAD: The Federal Board of Revenue (FBR) has directed the corporate sector to retain the records of all...

Updated 29 Aug, 2023 09:36am

UoSC payment to NTDC: Tax dept issuing notices to Discos for not deducting WHT

LAHORE: The Income Tax department is issuing notices to the power distribution companies (Discos) for not deducting...

Updated 25 Aug, 2023 09:43am

Non-recovery of tax demands from China-based co: FTO summons FBR officials to explain reasons

ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned member operations, Federal Board of Revenue (FBR), chief...

Updated 24 Aug, 2023 08:59am

Pensioners, senior citizens, Shuhada's families: FBR admits wrong calculations of tax liabilities

ISLAMABAD: The Federal Board of Revenue (FBR) has admitted before the Federal Tax Ombudsman (FTO) that the income...

Updated 21 Aug, 2023 09:59am

Business & Finance

Imposition of default surcharge on trade associations assailed

LAHORE: The Income Tax department is allegedly imposing default surcharge on trade associations by dividing expenses...

Published 20 Aug, 2023 03:20am

Without recovery notice: ATIR allows admission of fresh stay applications

KARACHI: Appeals Tribunal Inland Revenue (ATIR) has now allowed the admission of fresh stay applications without...

Updated 19 Aug, 2023 08:44am

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Oct 4 786 Investments Limited(786)	5.45 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Oct 4 Al-Abbas Sugar Mills Limited(AABS)	510.11 ▼ 0.00 (0.00%)
Agro Allianz / Oct 4 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Oct 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Oct 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Oct 4 Allied Bank Limited(ABL)	72 ▼ 0.00 (0.00%)
Abbott Lab. / Oct 4 Abbott Laboratories (Pakistan) Limited(ABOT)	338 ▼ 0.00 (0.00%)
Abson Ind. / Oct 4 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Oct 4 Alfalah Consumer Index ETF.(ACIETF)	7.53 ▼ 0.00 (0.00%)
Attock Cement / Oct 4 Attock Cement Pakistan Limited(ACPL)	85.75 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Oct 4 786 Investments Limited(786)	5.45 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Oct 4 Al-Abbas Sugar Mills Limited(AABS)	510.11 ▲ 0.00 (0.00%)
Agro Allianz / Oct 4 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Oct 4 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Oct 4 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Oct 4 Allied Bank Limited(ABL)	72 ▲ 0.00 (0.00%)
Abbott Lab. / Oct 4 Abbott Laboratories (Pakistan) Limited(ABOT)	338 ▲ 0.00 (0.00%)
Abson Ind. / Oct 4 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Oct 4 Alfalah Consumer Index ETF.(ACIETF)	7.53 ▲ 0.00 (0.00%)
Attock Cement / Oct 4 Attock Cement Pakistan Limited(ACPL)	85.75 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Oct 4 Worldcall Telecom Limited(WTL)	60,699,742 ▲ 0.00
Cnergyico PK / Oct 4 Cnergyico PK Limited(CNERGY)	19,001,237 ▲ 0.00
Oil & Gas Dev. / Oct 4 Oil & Gas Development Company Limited(OGDC)	9,902,658 ▲ 0.00
Unity Foods Ltd / Oct 4 Unity Foods Limited(UNITY)	8,538,353 ▲ 0.00
Bankislami Pak. / Oct 4 BankIslami Pakistan Limited(BIPL)	6,620,348 ▲ 0.00
K-Electric Ltd. / Oct 4 K-Electric Limited(KEL)	6,049,235 ▲ 0.00
Pak Refinery / Oct 4 Pakistan Refinery Limited(PRL)	5,287,550 ▲ 0.00
Fauji Foods Ltd / Oct 4 Fauji Foods Limited(FFL)	4,971,746 ▲ 0.00
Shell Pakistan / Oct 4 Shell Pakistan Limited(SHEL)	4,181,253 ▲ 0.00
Citi Pharma Ltd / Oct 4 Citi Pharma Ltd.(CPHL)	3,645,729 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Oct 3	286.04
USD PKR Interbank Buying / Oct 3	285.64
USD to Japanese Yen / Oct 3	149.26
USD to Swiss Franc / Oct 3	0.92
Pound Sterling to USD / Oct 3	1.21
Euro to USD / Oct 3	1.05
UK LIBOR % / Oct 3	5.44

Stock	Volume
S&P 500 / Oct 3	4229.45
India Sensex / Oct 3	65512.10
Tokyo Nikkei / Oct 3	30636.50
Nasdaq / Oct 3	13059.47
Hang Seng / Oct 3	17196.07
FTSE 100 / Oct 3	7470.16
Dow Jones / Oct 3	33002.38
Germany DAX 30 / Oct 3	15085.21
France CAC40 / Oct 3	6997.05

Item	Value
Crude Oil USD/Barrel / Oct 3	89.19
Karachi Cotton PKR/37.32 KG / Oct 3	18235
Gold 10 Grams PKR / Oct 3	172410
Gold Spot USD/Ounce / Oct 3	1821.11
Cotton US¢/pound / Oct 3	87.32

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