Trends - income tax - Business Recorder

income tax

FBR’s e-portal has no direct linkage with govt’s withholding agent

ISLAMABAD: The Federal Board of Revenue’s automated database (FBR’s e-portal) has no direct electronic linkage with...

Updated 29 May, 2024 09:20am

Business & Finance

Expert floats budget proposals ‘FBR should raise valuations with cut in advance tax on property deals’

ISLAMABAD: The Federal Board of Revenue (FBR) has received a budget proposal that the FBR’s valuation and district...

Published 28 May, 2024 05:30am

Cabinet approves rules for speedy disposal of tax cases

ISLAMABAD: The federal Cabinet has approved Appellate Tribunal Inland Revenue (Appointments, Terms and Conditions of...

Updated 27 May, 2024 02:07pm

11,252 SIM cards of non-filers blocked so far

ISLAMABAD: The Federal Board of Revenue (FBR) has so far blocked 11,252 SIMs of non-filers of income tax returns....

Updated 24 May, 2024 09:17am

FBR to issue uniform tax recovery rules in budget

ISLAMABAD: The Federal Board of Revenue (FBR) will issue uniform sales tax, income tax and federal excise recovery...

Updated 23 May, 2024 09:16am

Business & Finance

Tribunal sets aside orders of OIR for not following directions of Commissioner-IR Appeals

LAHORE: An Income Tax Tribunal has set-aside the orders of an Officer Inland Revenue (OIR) for not following the...

Published 12 May, 2024 03:09am

Business & Finance

Telecos agree to start blocking SIMs of non-filers

ISLAMABAD: The cellular companies’/ telecom operators have agreed with the Federal Board of Revenue (FBR) to...

Published 11 May, 2024 06:22am

Pakistan

Income tax refunds’ e-processing: IHC issues notice to Member IR FBR

ISLAMABAD: The Islamabad High Court (IHC) has issued a notice to Member Inland Revenue (Policy) Federal Board of...

Published 08 May, 2024 06:43am

Business & Finance

Blocking SIMs of over 0.5m non-filers: PTA yet to decide on FBR decision

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) is yet to decide on the Federal Board of Revenue’s (FBR’s)...

Published 03 May, 2024 06:29am

Markets

Budget proposals: PBC calls for mining FBR data to identify new taxpayers

The Pakistan Business Council (PBC), the country’s largest corporate sector advocacy platform, has urged the...

Updated 02 May, 2024 10:41pm

Pakistan

Widow challenges advance tax against cellular phone services

LAHORE: A widow has challenged advance tax against cellular phone services, being not liable to pay income tax or...

Published 01 May, 2024 04:14am

Opinion

Deemed income tax on ownership of vacant plot of land incorrect—V

All the arguments and contentions made by the Sindh High Court in the aforesaid order which have been emphasised are...

Published 17 Apr, 2024 05:28am

BR Research

An interview with Anwar Kashif Mumtaz, President, Pakistan Tax Bar Association

‘Documentation is the only way forward’ Anwar Kashif Mumtaz (Advocate Supreme Court) is a Tax and Corporate Lawyer,...

Published 15 Apr, 2024 10:38am

Opinion

Deemed income tax on ownership of vacant plot of land incorrect—III

Even if the Elahi Cotton Mills Limited is considered to be final on this subject there is a fundamental difference...

Published 15 Apr, 2024 03:56am

Opinion

Deemed income tax on ownership of vacant plot of land incorrect—II

Notwithstanding the fact that this author is not in agreement with the judgement and considers this order identical...

Published 14 Apr, 2024 03:33am

Steel melters send ‘SOS’ to Discos, FBR

LAHORE: The Pakistan Steel Melters Association has sent a SOS signal to DISCOs and FBR as documented steel melters...

Updated 10 Apr, 2024 09:49am

Business & Finance

Sales Tax Rules 2006: KCCI urges FBR to revisit recent amendments

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh, while referring to ...

Published 16 Mar, 2024 06:26am

Construction sector: IMF asks FBR to abolish special tax regime

Recommends subjecting sector to standard income tax regime

Updated 15 Mar, 2024 04:03pm

Business & Finance

Taxpayer claims audit proceedings conducted under repealed provisions

LAHORE: A taxpayer has alleged the income tax department to have used repealed provisions of the law to carry out...

Published 28 Feb, 2024 06:10am

Opinion

‘Determining fair income tax base’

Business Recorder op-ed writers Huzaima Bukhari, Dr Ikramul Haq and Abdul Rauf Shakoori have highlighted an issue of...

Published 24 Feb, 2024 06:42am

Opinion

Determining fair income tax base

According to the latest data available on the website of Pakistan Telecommunication Authority (PTA), as on December...

Published 23 Feb, 2024 06:36am

Tax on windfall income case: FBR decides to engage legal counsel

KARACHI: In a significant development, the Federal Board of Revenue (FBR) has decided to engage legal counsel to...

Updated 22 Feb, 2024 09:12am

World

Congress says bank accounts frozen over $25m tax demand

NEW DELHI: India’s main opposition Congress party said on Friday its bank accounts had been frozen over a 2.1...

Published 17 Feb, 2024 05:51am

Opinion

Bridging the huge tax gap

The new coalition federal government will soon be in power, after controversial elections of February 8 2024,...

Published 16 Feb, 2024 06:02am

Business & Finance

Timely return revisions: FBR urged to remove barriers

KARACHI: Tax practitioners and filers have expressed serious concerns over barriers in revising submitted tax ...

Published 03 Feb, 2024 05:46am

Business & Finance

Industrial undertakings: Minimum tax payable despite exemption under Economic Reforms Act

LAHORE: Minimum tax is payable by the industrial undertakings despite enjoying exemption under the Economic Reforms...

Published 24 Jan, 2024 05:07am

Reforms in taxation system demanded

PESHAWAR: Members of the business community demanded reforms in the taxation system, and to bring down the ratio of...

Updated 22 Jan, 2024 08:55am

Business & Finance

E-processing, e-issuance of refund: FBR still requires order by court or FTO’s recommendation

ISLAMABAD: In spite of insertion of section 170A in the Income Tax Ordinance 2001 through Finance Act 2021, the...

Published 18 Jan, 2024 05:54am

Business & Finance

Expert says there’re discrepancies in ATLs’ data

ISLAMABAD: There is a significant difference in the number of compliant income taxpayers and sales taxpayers...

Published 14 Jan, 2024 03:13am

FBR issues ‘final’ notices to non-filers

Senior FBR official says blockage of mobile phones will be done positively this month, but 'not necessarily on January 15, 2024'

Updated 11 Jan, 2024 10:52am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 29	278.37
USD PKR Interbank Buying / May 29	278.16
USD to Japanese Yen / May 29	157.06
USD to Swiss Franc / May 29	0.91
Pound Sterling to USD / May 29	1.28
Euro to USD / May 29	1.09

Stock	Volume
S&P 500 / May 28	5306.04
Nasdaq / May 28	17019.88
FTSE 100 / May 28	8254.18
Dow Jones / May 28	38852.86
Germany DAX 30 / May 28	18677.87
France CAC40 / May 28	8057.80
India Sensex / May 29	74732.81
Tokyo Nikkei / May 29	38556.87

Item	Value
Petrol/Litre / May 29	273.10
Crude Oil USD/Barrel / May 29	80.19
Karachi Cotton PKR/37.32 KG / May 29	19935
Gold 10 Grams PKR / May 29	208076
Gold Spot USD/Ounce / May 29	2355.13
Diesel/Litre / May 29	274.08

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 29 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 29 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 29 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 29 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 29 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 29 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 29 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 29 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 29 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 29 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 29 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 29 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 29 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 29 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 29 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 29 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 29 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 29 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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