Trends - Tax - Business Recorder

Tax

Same old (tax) story

EDITORIAL: With the Stand-By Arrangement (SBA) greenlighted by the IMF (International Monetary Fund), after such a...

Published 19 Jul, 2023 03:21am

Business & Finance

Delay in allowing effect to court orders tantamount to maladministration: FTO

LAHORE: The Federal Tax Ombudsman (FTO) has declared that a delay in allowing effect to the higher court orders by...

Published 18 Jul, 2023 05:51am

Opinion

‘Tax targets versus tax gap’

This is apropos a Business Recorder two-part op-ed ‘Tax targets versus tax gap’ carried by the newspaper on...

Published 17 Jul, 2023 03:47am

Pakistan

Penalty imposition: Tax officers accused of failing to prove concealment of income

LAHORE: Taxation officers are accused of not proving deliberate deduction by taxpayers while disallowing ...

Published 13 Jul, 2023 04:50am

Salaried class launches drive against tax hike

ISLAMABAD: Salaried class has launched a campaign against the substantial increase in the incidence of tax on...

Updated 09 Jul, 2023 09:53pm

Opinion

Retrospective tax on windfall income discourages corporatization—I

A new Section 99D has been introduced in the Income Tax Ordinance 2001 (“ITO”) through the Finance Act 2023...

Updated 07 Jul, 2023 06:10am

Business & Finance

Possible enforcement of Sec 99D of IT Ord: Litigation between FBR, sectors making windfall profits feared

ISLAMABAD: Leading tax experts have apprehended that litigation will start between the Federal Board of Revenue ...

Published 07 Jul, 2023 05:24am

Opinion

Super tax and tax on bonus: misinterpretation of basic accounting–II

Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super...

Updated 06 Jul, 2023 06:24am

Business & Finance

Tax authorities accused of issuing ‘implausible’ audit notices

LAHORE: Tax authorities are accused of issuing notices without clarity and explicit reasons for selection of tax...

Published 05 Jul, 2023 06:00am

Income of shareholder of company: 10pc tax paid on bonus shares to be ‘final tax’

ISLAMABAD: Ten percent tax paid on bonus shares would be the “final tax”, on the income of the shareholder of the...

Updated 02 Jul, 2023 03:17pm

Business & Finance

China unveils $72bn tax break for green cars to spur demand

BEIJING/SHANGHAI: China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package to boost sales of electric...

Published 26 Jun, 2023 06:38am

Business & Finance

Banks to collect taxes, duties on 27th, 28th & 30th: SBP

KARACHI: The State Bank of Pakistan (SBP) has issued instructions for collection of taxes and duties on 27th, 28th...

Published 25 Jun, 2023 02:57am

Editorials

4-month KP budget

EDITORIAL: KP (Khyber Pakhtunkhwa) chief minister’s advisor on finance Himayatullah Khan presented a Rs462.4...

Published 25 Jun, 2023 02:57am

Editorials

Vicious cycle of smuggling, tax evasion

EDITORIAL: Speakers at a briefing arranged by Ipsos for parliamentarians to discuss tax evasion in five major ...

Published 24 Jun, 2023 06:02am

Business & Finance

Overseas Pakistani: FTO concerned over repeated changes in tax jurisdiction

ISLAMABAD: The Federal Tax Ombudsman (FTO) has expressed serious concern over repeated changes in the tax...

Published 21 Jun, 2023 05:21am

Business & Finance

PTA to hire consultants over most efficient/effective tax model

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) is planning to hire tax consultants to propose the most...

Published 20 Jun, 2023 03:16am

Business & Finance

Multinational cos propose 30pc cut in FED on cigarettes

ISLAMABAD: A multinational cigarette manufacturing company has approached the government to reduce the Federal ...

Published 20 Jun, 2023 03:16am

BR Research

Seizing SEZ investments

Pakistan badly needs investments in productive sectors– both from within and outside. And the urgency could not be...

Published 16 Jun, 2023 08:00am

Business & Finance

10-year tax holiday a must to realise IT export potential of $15bn: P@SHA

ISLAMABAD: The country is unlikely to realise the information technology export potential of $ 15 billion within the...

Published 14 Jun, 2023 06:21am

BR Research

Budget FY24 – what’s there for IT?

The IT sector was among the sectors that received some relief measures in the Budget. According to the finance...

Published 12 Jun, 2023 08:34am

Tax policy-making process ‘ICTE’ to be set up to reduce role of FBR officials

ISLAMABAD: The Federal Board of Revenue (FBR) will establish an International Centre of Tax Excellence (ICTE) to...

Updated 11 Jun, 2023 08:11am

Proposed tax on windfall profits may be challenged in courts

ISLAMABAD: The new tax proposed on windfall profits gains may be challenged in courts due to its applicability on...

Updated 11 Jun, 2023 08:11am

Finance Bill brings in a big import-related facilitative step

ISLAMABAD: The Federal Board of Revenue (FBR) will not impose any penalty on importers in cases of non-placement of...

Updated 11 Jun, 2023 12:21pm

Business & Finance

Federal Budget: PBF sees no ‘serious efforts’ for economic revival

KARACHI: Pakistan Business Forum (PBF) says the federal government has done ‘too little, too late’ in terms of...

Published 10 Jun, 2023 05:01am

Business & Finance

Govt changes definition of ‘SMEs’

ISLAMABAD: The government has changed the definition of Small and Medium Enterprise (SME) to increase in business...

Published 10 Jun, 2023 05:01am

PML(N)-led coalition govt struggles to strike a delicate balance between outright populism & fiscal discipline

Dar presents Rs14.5trn budget
Budget closely watched by IMF
3.5% economic growth target set
Fiscal deficit target set at 6.54% of GDP
Govt targets inflation at 21%
Total spending target of 14.46 trillion rupees set
Defence expenditure estimated at 1.8 trillion rupees
Targets total tax revenue of 9.2 trillion rupees
Targets total non-tax revenue of 3 trillion rupees
$30 billion export target set
No new tax on industrial sector

Published 10 Jun, 2023 05:00am

Rs223bn taxation measures taken

ISLAMABAD: The government has taken new taxation measures of Rs223 billion in the budget (2023-24) including the...

Published 10 Jun, 2023 04:34am

Pakistan

JI demands Riba-free budget

LAHORE: Reminding the finance minister his words about abolishing the interest-based economy, Jamaat-e-Islami Emir...

Published 09 Jun, 2023 06:20am

Crackdown on tax defaulting vehicles to begin today

KARACHI: On the direction of Sindh Minister for Excise, Taxation and Narcotics Control Department Mukesh Kumar...

Updated 05 Jun, 2023 08:45am

Opinion

Imagineering implementation of energy reforms-VII

Pakistan requires sustained GDP growth of 7-9% for 30 years. For that, by 2030 Agriculture will need to achieve 6%...

Published 04 Jun, 2023 03:35am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 23	278.40
USD PKR Interbank Buying / Apr 23	278.10
USD to Japanese Yen / Apr 23	154.75
USD to Swiss Franc / Apr 23	0.91
Pound Sterling to USD / Apr 23	1.24
Euro to USD / Apr 23	1.07

Stock	Volume
S&P 500 / Apr 23	5070.55
India Sensex / Apr 23	73738.45
Tokyo Nikkei / Apr 23	37552.16
Nasdaq / Apr 23	15696.64
Hang Seng / Apr 23	16828.93
FTSE 100 / Apr 23	8044.81
Dow Jones / Apr 23	38503.69
Germany DAX 30 / Apr 23	18137.65

Item	Value
Crude Oil USD/Barrel / Apr 23	83.54
Karachi Cotton PKR/37.32 KG / Apr 23	21035
Gold 10 Grams PKR / Apr 23	213220
Gold Spot USD/Ounce / Apr 23	2323.25
Cotton US¢/pound / Apr 23	81.72
Petrol/Litre / Apr 24	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 24 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 24 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 24 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 24 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 24 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 24 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 24 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 24 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 24 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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