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Tax

Tax credit regime for NPOs massively misused: FTO

ISLAMABAD: The Federal Board of Revenue’s tax credit regime for Non-Profit Organisations (NPOs) has been massively...

Published 05 Dec, 2023 03:01am

Opinion

Tax on windfall income: Banking companies

General, The Finance Act, 2023 introduced a new provision, Section (99D), in the Income Tax Ordinance 2001. Under...

Updated 29 Nov, 2023 05:35am

Editorials

DOC meeting: it’s not money for nothing

EDITORIAL: A Donors Coordination Committee (DOC) meeting was convened by the Caretaker Finance Minister with...

Published 24 Nov, 2023 05:29am

Business & Finance

Foreign currency deals during 2021, 2022: FBR to impose 40pc additional tax on windfall profits of banks

ISLAMABAD: The Federal Board of Revenue (FBR) will shortly issue a statutory regulatory order (SRO) to impose 40...

Published 22 Nov, 2023 05:48am

World

UK’s Hunt says won’t implement tax cuts that fuel inflation

LONDON: British Finance Minister Jeremy Hunt said on Sunday he would not implement tax cuts that would push up...

Published 19 Nov, 2023 05:17pm

Editorials

Windfall tax levy faces prospect of litigation

EDITORIAL: Windfall tax is defined as “a tax levied on an unforeseen or unexpectedly large profit, especially one...

Published 18 Nov, 2023 06:03am

Business & Finance

Windfall income of banks: SRO will be issued to impose 40pc additional tax

ISLAMABAD: The Federal Board of Revenue (FBR) will issue a Statutory Regulatory Order (SRO) to impose 40 percent...

Published 16 Nov, 2023 05:39am

Business & Finance

Cigarette prices in Pakistan lowest in the region due to lenient tax policy?

ISLAMABAD: Pakistan stands out in the region for remarkably low cigarette prices due to the country’s lenient tax...

Published 14 Nov, 2023 05:08am

Business & Finance

SECP asks insurance cos to disclose deducted tax in accounts’ books

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has asked the insurance companies to give...

Published 07 Nov, 2023 06:33am

Business & Finance

Recovery notices under Sec 138: FTO orders probe against FBR

ISLAMABAD: The Federal Tax Ombudsman (FTO) has ordered an investigation against the Federal Board of Revenue (FBR)...

Published 05 Nov, 2023 03:10am

Tax, FBR reforms: Task force concerned at reliance on indirect taxes

ISLAMABAD: The first meeting of the task force on tax and Federal Board of Revenue (FBR) reforms, constituted by the...

Updated 05 Nov, 2023 12:59pm

Tax against reprocessing, repacking of goods termed ‘wrong’

LAHORE: Both the customs and sales tax authorities are wrongfully charging excise duty and sales tax against...

Updated 05 Nov, 2023 09:22am

Business & Finance

South Africa seeks tax boost as higher debt peak forecast

CAPE TOW: South Africa’s finance minister will propose tax changes next year as part of an effort to stabilise...

Published 02 Nov, 2023 03:15am

Business & Finance

India demands $12bn in tax from online gaming firms

NEW DELHI: Indian tax authorities have served notices to online gaming companies demanding about 1 trillion rupees...

Published 26 Oct, 2023 06:08am

Business & Finance

Vietnam may delay minimum tax on multinationals, in blow to Samsung

HANOI: Vietnam’s parliament will not discuss a minimum tax on multinationals at its last session of the year, a...

Published 23 Oct, 2023 05:58am

Pakistan

Tax laws teaching: FTO office and COMSATS University ink MoU

ISLAMABAD: The Federal Tax Ombudsman (FTO) and COMSATS University, Islamabad, have signed a memorandum of...

Published 19 Oct, 2023 05:10am

Business & Finance

Tax recovery: FTO directs FBR to conduct WHT audit of NHA for TY23

ISLAMABAD: Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah in a landmark order has directed the Federal Board of...

Published 18 Oct, 2023 06:09am

Rs63bn more than the target: Q1 tax collection stands at Rs2.041trn

ISLAMABAD: The Federal Board of Revenue (FBR) has collected Rs 2,041 billion during the first quarter of the current...

Updated 01 Oct, 2023 03:35pm

Business & Finance

Welfare trusts: Tax dept not treating income from interest on bank deposits as business income

LAHORE: Tax authorities are allegedly not treating income from interest on bank deposits of welfare trusts as...

Published 28 Sep, 2023 05:33am

Business & Finance

Declaration against foreign assets: ‘Taxpayers not filing CVT being held liable to default’

LAHORE: Tax authorities are holding taxpayers liable to default for not filing capital value tax (CVT) declaration...

Published 23 Sep, 2023 05:58am

Business & Finance

‘Tax rich more,’ IMF asks govt

NEW YORK: International Monetary Fund (IMF) Managing Director Kristalina Georgieva has called on the authorities in...

Published 22 Sep, 2023 03:33am

Business & Finance

Withholding agents: Tax officers imposing penalties without verifying payments

LAHORE: Tax authorities are allegedly imposing additional tax against withholding agents without verifying whether...

Published 21 Sep, 2023 06:08am

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

Business & Finance

Abbott Laboratories sustains Rs580mn in losses amid inflation, currency devaluation

Sales in second quarter clocked in at Rs13.44 billion

Updated 30 Aug, 2023 07:04pm

Business & Finance

‘Industrial units converting lands into housing societies are liable to tax’

LAHORE: The industrial units converting their lands into housing societies are liable to tax as they fall under the...

Published 30 Aug, 2023 03:33am

Markets

China halves stock trade tax to boost market

BEIJING: China halved the stamp duty on securities transactions, state media reported Sunday, in an effort to...

Published 27 Aug, 2023 06:46pm

Pakistan

Tax credit facility: FBR suggests simple procedure for charitable bodies

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed a simple procedure for availing tax credit by charitable/...

Published 16 Aug, 2023 05:50am

Business & Finance

Minister pleads reduced tax rates for telecom sector, mobile handsets

ISLAMABAD: Federal Minister for Information Technology and Telecommunication Syed Aminul Haque pleaded reduced tax...

Published 09 Aug, 2023 05:33am

BR Research

MCB: Investments and current account drive profit

MCB Bank Limited (MCB) doubled on the impressive first quarter, raking in record half yearly after-tax profits at...

Published 07 Aug, 2023 08:18am

Business & Finance

Tax expert accused of harming reputation of FBR officers

LAHORE: The Federal Board of Revenue (FBR) Deputy Commissioner Ali Saleh Hayat Kalyar has sent a legal notice to...

Published 01 Aug, 2023 06:19am

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	5.58 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	510 ▼ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	85.66 ▼ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	479.11 ▼ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	10.53 ▼ 0.00 (0.00%)
Attock Cement / Dec 5 Attock Cement Pakistan Limited(ACPL)	99.63 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Dec 5 786 Investments Limited(786)	5.58 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Dec 5 Al-Abbas Sugar Mills Limited(AABS)	510 ▲ 0.00 (0.00%)
Agro Allianz / Dec 5 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Dec 5 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Dec 5 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Dec 5 Allied Bank Limited(ABL)	85.66 ▲ 0.00 (0.00%)
Abbott Lab. / Dec 5 Abbott Laboratories (Pakistan) Limited(ABOT)	479.11 ▲ 0.00 (0.00%)
Abson Ind. / Dec 5 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Dec 5 Alfalah Consumer Index ETF.(ACIETF)	10.53 ▲ 0.00 (0.00%)
Attock Cement / Dec 5 Attock Cement Pakistan Limited(ACPL)	99.63 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Dec 5 Worldcall Telecom Limited(WTL)	57,079,786 ▲ 0.00
Fauji Cement / Dec 5 Fauji Cement Company Limited(FCCL)	41,984,500 ▲ 0.00
Oil & Gas Dev. / Dec 5 Oil & Gas Development Company Limited(OGDC)	23,810,103 ▲ 0.00
Pak Petroleum / Dec 5 Pakistan Petroleum Limited(PPL)	23,518,237 ▲ 0.00
Pak Refinery / Dec 5 Pakistan Refinery Limited(PRL)	22,669,534 ▲ 0.00
Maple Leaf Cement / Dec 5 Maple Leaf Cement Factory Limited(MLCF)	22,423,667 ▲ 0.00
P.T.C.L. / Dec 5 Pakistan Telecommunication Company Ltd(PTC)	21,755,000 ▲ 0.00
Fauji Foods Ltd / Dec 5 Fauji Foods Limited(FFL)	20,839,226 ▲ 0.00
Pak Elektron / Dec 5 Pak Elektron Limited(PAEL)	20,714,512 ▲ 0.00
Cnergyico PK / Dec 5 Cnergyico PK Limited(CNERGY)	18,687,005 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 4	284.75
USD PKR Interbank Buying / Dec 4	284.55
USD to Japanese Yen / Dec 4	147.21
USD to Swiss Franc / Dec 4	0.87
Pound Sterling to USD / Dec 4	1.26
Euro to USD / Dec 4	1.08
UK LIBOR % / Dec 1	5.46

Stock	Volume
S&P 500 / Dec 4	4569.78
India Sensex / Dec 4	68865.12
Tokyo Nikkei / Dec 4	33231.27
Nasdaq / Dec 4	14185.50
Hang Seng / Dec 4	16646.05
FTSE 100 / Dec 4	7512.96
Dow Jones / Dec 4	36204.44
Germany DAX 30 / Dec 4	16404.76
France CAC40 / Dec 4	7332.59

Item	Value
Karachi Cotton PKR/37.32 KG / Dec 1	17235
Crude Oil USD/Barrel / Dec 4	73.31
Gold 10 Grams PKR / Dec 4	191701
Gold Spot USD/Ounce / Dec 4	2029.96
Cotton US¢/pound / Dec 4	78.68

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