Trends - Tax - Business Recorder

Tax

Indian mutual funds see debt inflows before tax tweak kicks in

MUMBAI: Indian mutual funds are seeing a spurt in inflows into debt-oriented schemes ahead of a change in the...

Published 30 Mar, 2023 06:35am

Business & Finance

India likely to propose removing long-term tax benefits for debt mutual funds

NEW DELHI: India may propose that investments in debt mutual funds be taxed as short-term capital gains, according...

Published 24 Mar, 2023 10:24am

Business & Finance

Tax officers accused of violating law by determining profit margins arbitrarily

LAHORE: Tax authorities are involved in violating law by determining arbitrary profit margins in relation to a...

Published 24 Mar, 2023 05:55am

Business & Finance

Taxpayers exploiting FTO forum to defeat hierarchy of tax laws

LAHORE: Taxpayers are exploiting the forum of Federal Tax Ombudsman (FTO) to defeat a complete mechanism and...

Published 18 Mar, 2023 06:14am

Opinion

New FATF guidelines: Shell companies and beneficial ownership

Shell companies are considered the safest means to stash wealth created through criminal activities. Incorporation ...

Updated 17 Mar, 2023 06:42am

World

UK plans 11bn sterling business tax break in budget: Bloomberg News

British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds ($13.23...

Published 11 Mar, 2023 09:22pm

Editorials

What’s behind lower revenue collection?

EDITORIAL: The shortfall in Federal Board of Revenue’s (FBR’s) collection for the first eight months of the...

Published 10 Mar, 2023 03:46am

Business & Finance

FTO directs FBR to probe matter involving a bank

ISLAMABAD: Federal Tax Ombudsman (FTO) on Thursday directed the Federal Board of Revenue (FBR) to probe the matter ...

Published 10 Mar, 2023 03:46am

World

Afghanistan coffers swell as Taliban taxman collects

TORKHAM: A dusty logjam of trucks inches across a rut in the mountains splitting Pakistan and Afghanistan, teeming...

Published 09 Mar, 2023 11:59am

Business & Finance

Exchange fluctuations: Foreign firms’ subsidiaries not allowed to cut income

LAHORE: Tax authorities are not allowing subsidiaries of foreign companies to deduct the loss on income from ...

Published 09 Mar, 2023 06:23am

Business & Finance

India raises crude oil windfall tax, cuts diesel export tax

NEW DELHI: India raised its windfall tax on crude oil marginally while cutting the tax on exports of diesel,...

Published 05 Mar, 2023 03:36am

Business & Finance

Well-known outlet sealed over failure to install PoS app

RAWALPINDI: The Regional Tax Office (RTO), Rawalpindi, on Thursday sealed a famous business outlet over failure to...

Published 03 Mar, 2023 06:12am

Business & Finance

‘Arbitrary’ notices irk beverage firms

LAHORE: Issuance of arbitrary tax notices to the beverage sector firms without referring disputed matters to the...

Published 02 Mar, 2023 06:23am

Business & Finance

Non-resident banking company: Profit on debt, capital gains from debt, debt instruments exempted from tax

ISLAMABAD: The federal government has exempted profit on debt and capital gains from debt and debt instruments from...

Published 01 Mar, 2023 06:21am

Business & Finance

OGDCL announces financial results

ISLAMABAD: The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 22nd...

Published 23 Feb, 2023 05:52am

Business & Finance

Excessive deductions: FTO asks FBR to stop taxing hired lecturers

LAHORE: Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah has directed the Federal Board of Revenue (FBR) to stop...

Published 22 Feb, 2023 03:30am

Business & Finance

SCBPL delivers record financial performance

KARACHI: Standard Chartered Bank Pakistan Limited (SCBPL) has delivered a record profit before tax of Rs 50.1...

Published 22 Feb, 2023 03:30am

Business & Finance

The Finance (Supplementary) Bill 2023: an analysis

INCOME TAX: CAPITAL GAIN ON DISPOSAL OF SECURITIES OTHER THAN THROUGH STOCK EXCHANGE/NCCPL Capital gains arising on...

Updated 18 Feb, 2023 04:04am

Business & Finance

FTO asks FBR to refund Rs19,245 to ex-employee

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to allow a refund pending...

Published 07 Feb, 2023 06:07am

Business & Finance

Punjab govt collects tax of over Rs154bn through e-Pay

LAHORE: The case flow management system and e-Pay Punjab, developed by the Punjab Information Technology Board ...

Published 07 Feb, 2023 06:07am

Business & Finance

July-January 2022-23: Rs4bn increase in revenue collection

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs 537 billion during January 2023 against...

Published 01 Feb, 2023 05:58am

Business & Finance

Refundable WWF should only be refunded from WWF account: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has directed Member Inland Revenue (Operations) to bifurcate the ...

Published 31 Jan, 2023 06:01am

Business & Finance

FBR creates new office for appeals in Islamabad

ISLAMABAD: The Federal Board of Revenue (FBR) has created a new office of Commissioner Inland Revenue (Appeals-V),...

Published 18 Jan, 2023 06:22am

New tax raising steps under consideration

Proposed measures include increase in rates of withholding taxes, more indirect taxation, three percent flood levy on imports, and tax on banks’ foreign exchange income

Updated 18 Jan, 2023 12:40pm

State revenue: FTO directs FBR to implement effective mechanism

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to implement an effective...

Updated 18 Jan, 2023 08:44am

Pakistan

Tax data of General Bajwa’s family: Court rejects plea to extend physical remand of journalist

ISLAMABAD: A local court, on Monday, rejected the prosecution’s request to extend the physical remand of the...

Published 17 Jan, 2023 06:02am

Pakistan

Tax data of Bajwa’s family: FIA granted two-day physical remand of journalist

ISLAMABAD: A local court on Saturday granted the Federal Investigation Agency (FIA) two days physical remand of a...

Published 15 Jan, 2023 04:01am

Rs550bn tax gap largely falls in five sectors: FBR

ISLAMABAD: The huge sales tax gap of Rs 550 billion largely falls in food, beverages, tobacco, textile, wholesale...

Updated 15 Jan, 2023 03:16pm

Business & Finance

FBR directed to withdraw notice of WHT monitoring to deceased

ISLAMABAD: While disposing of a complaint, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue...

Published 14 Jan, 2023 06:22am

Business & Finance

Pakistan: Economic Management Support: ADB’s IED rates tech assistance as successful, relevant

ISLAMABAD: The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has rated technical...

Published 12 Jan, 2023 05:51am

Gainers
Losers
Leaders

Stock	Price
Chakwal Spinning / Mar 30 Chakwal Spinning Mills Limited(CWSM)	1.36 ▲ 0.20 (17.24%)
First IBL Mod. / Mar 30 First IBL Modaraba(FIBLM)	5.90 ▲ 0.60 (11.32%)
First Pak Mod. / Mar 30 First Pak Modaraba(PAKMI)	1.34 ▲ 0.13 (10.74%)
Dewan Sugar / Mar 30 Dewan Sugar Mills Limited(DWSM)	2.57 ▲ 0.23 (9.83%)
Unicap Modaraba / Mar 30 Unicap Modaraba(UCAPM)	1.77 ▲ 0.15 (9.26%)
Premier Insurance / Mar 30 Premier Insurance Limited(PINL)	7.50 ▲ 0.63 (9.17%)
B.R.R.Guardian / Mar 30 B.R.R. Guardian Modaraba(BRR)	12.04 ▲ 0.99 (8.96%)
Ismail Ind. / Mar 30 Ismail Industries Limited(ISIL)	518.26 ▲ 36.15 (7.50%)
Khyber Tex. / Mar 30 Khyber Textile Mills Limited(KHYT)	397.42 ▲ 27.72 (7.50%)
Suraj Cotton / Mar 30 Suraj Cotton Mills Limited(SURC)	102.53 ▲ 7.15 (7.50%)

Stock	Price
First Prudential Mod. / Mar 30 First Prudential Modaraba(PMI)	1.40 ▼ -0.24 (-14.63%)
Trust Mod. / Mar 30 Trust Modaraba(TRSM)	1.30 ▼ -0.20 (-13.33%)
Sapphire Fibres / Mar 30 Sapphire Fibres Limited(SFL)	1018 ▼ -82.00 (-7.45%)
Sardar Chemical / Mar 30 Sardar Chemical Industries Limited(SARC)	32 ▼ -2.55 (-7.38%)
Gadoon Textile / Mar 30 Gadoon Textile Mills Limited(GADT)	192.50 ▼ -15.30 (-7.36%)
Philip Morris Pak. / Mar 30 Philip Morris (Pakistan) Limited(PMPK)	461 ▼ -36.43 (-7.32%)
Pakistan Services / Mar 30 Pakistan Services Limited(PSEL)	876 ▼ -69.10 (-7.31%)
Shield Corp. / Mar 30 Shield Corporation Limited(SCL)	282 ▼ -22.00 (-7.24%)
Bal. Wheel / Mar 30 Baluchistan Wheels Limited(BWHL)	68.42 ▼ -5.18 (-7.04%)
JDW Sugar / Mar 30 JDW Sugar Mills Limited(JDWS)	356 ▼ -26.79 (-7.00%)

Stock	Volume
Telecard Limited / Mar 30 Telecard Limited(TELE)	12,447,500 ▼ -0.21
WorldCall Telecom / Mar 30 Worldcall Telecom Limited(WTL)	9,398,662 ▲ 0.01
Pakistan Alumin / Mar 30 Pakistan Aluminium Beverage Cans Limited(PABC)	7,638,000 ▲ 0.23
Pak Elektron / Mar 30 Pak Elektron Limited(PAEL)	6,136,500 ▼ -0.05
Pak Int.Bulk / Mar 30 Pakistan International Bulk Terminal(PIBTL)	6,018,500 ▲ 0.08
Engro Corp / Mar 30 Engro Corporation Limited(ENGRO)	5,429,492 ▼ -0.02
Nishat Mills Ltd / Mar 30 Nishat Mills Limited(NML)	4,517,879 ▲ 0.46
Shifa Int.Hosp / Mar 30 Shifa International Hospitals Limited(SHFA)	4,299,000 ▼ -1.99
Agha Steel Ind. / Mar 30 Agha Steel Ind.Ltd(AGHA)	3,645,000 ▲ 0.36
K-Electric Ltd. / Mar 30 K-Electric Limited(KEL)	3,416,092 ▲ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Mar 30	284.05
USD PKR Interbank Buying / Mar 30	283.80
USD to Japanese Yen / Mar 30	132.47
USD to Swiss Franc / Mar 30	0.92
Pound Sterling to USD / Mar 30	1.23
Euro to USD / Mar 30	1.08
UK LIBOR % / Mar 29	4.81

Stock	Volume
S&P 500 / Mar 29	4027.81
India Sensex / Mar 29	57960.09
Nasdaq / Mar 29	11926.24
Dow Jones / Mar 29	32717.60
Tokyo Nikkei / Mar 30	27782.93
Hang Seng / Mar 30	20309.13
FTSE 100 / Mar 30	7578.80
Germany DAX 30 / Mar 30	15430.39
France CAC40 / Mar 30	7235.99

Item	Value
Karachi Cotton PKR/37.32 KG / Mar 29	18935
Gold 10 Grams PKR / Mar 29	176268
Crude Oil USD/Barrel / Mar 30	72.81
Gold Spot USD/Ounce / Mar 30	1963.79
Cotton US¢/pound / Mar 30	82.34

Tax

Most Popular Articles