Trends - Tax - Business Recorder

Tax

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

Business & Finance

SCBPL delivers strong financial performance

KARACHI: Standard Chartered Bank Pakistan Limited (SCBPL) delivered a strong performance, that has led to a growth ...

Published 30 Apr, 2024 03:43am

Business & Finance

Tax administration & relevant laws: Business community supports PM’s resolve

KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, Mian...

Published 27 Apr, 2024 05:03am

Business & Finance

Fauji Cement’s earnings down to Rs1.77bn in January-March 2024

Fauji Cement’s profit-after-tax amounted to Rs1.77 billion, a decrease of 6%, during the third quarter of FY24 that...

Published 23 Apr, 2024 03:29pm

Editorials

Tax burden on industrial sector

EDITORIAL: A report in this paper, explaining how 19-20 different federal and provincial taxes presently levied on...

Published 22 Apr, 2024 04:39am

Global lender recommends tax policy reforms

International Monetary Fund gives a set of recommendation

Updated 16 Apr, 2024 09:15am

Business & Finance

Transaction against a taxpayer: Authorities fail to establish re-characterization

LAHORE: Tax authorities fail to establish re-characterization of a transaction against a taxpayer in the absence of...

Published 05 Apr, 2024 04:50am

Business & Finance

Tax defaulting vehicles: E&T Dept decides to take strict action

LAHORE: The Excise and Taxation Department has decided to take strict action against tax defaulting vehicles,...

Published 01 Apr, 2024 05:34am

Opinion

Paradigm behind an ideal tax-to-GDP ratio

One point of commonality in all twenty-three International Monetary Fund (IMF) programmes secured by Pakistan to ...

Published 01 Apr, 2024 05:34am

Over 27,000 tax-related cases pending: Ord likely to reduce forums of appeals

ISLAMABAD: The government is likely to promulgate a Presidential Ordinance to reduce forums of appeals to decide...

Updated 31 Mar, 2024 09:47pm

Business & Finance

Taxpayer disallowed input tax adjustment

LAHORE: Sales tax authorities failed to disallow the input tax adjustment in the absence of proving adjustment...

Published 31 Mar, 2024 02:53am

Business & Finance

Tax officer passes assessment order beyond show-cause notice

LAHORE: A tax officer passed an assessment order beyond the show-cause notice without confronting the same to the...

Published 27 Mar, 2024 04:38am

Will new finance minister help arrest FBR’s revenue collection slide?

ISLAMABAD: Tax experts have raised the question of whether the differences between the caretaker Finance Minister ...

Updated 10 Mar, 2024 10:10am

Business & Finance

Office of FTO: Business community briefed about mandate & performance

KARACHI: Dr Asif Mahmood Jah, Federal Tax Ombudsman, has apprised the business community on the mandate and the...

Published 29 Feb, 2024 04:41am

Business & Finance

EU removes Bahamas, Seychelles from tax haven blacklist

BRUSSELS: The EU removed the Bahamas, Seychelles and two other jurisdictions from its tax havens blacklist on...

Published 21 Feb, 2024 05:29am

Markets

Textile unit commits Rs1.4bn tax ‘fraud’ by ‘misusing’ EFS

KARACHI: A textile unit, reportedly owned by political bigwigs, has committed around Rs 1.4 billion tax fraud by...

Updated 21 Feb, 2024 11:15am

Business & Finance

Tax authorities fail to encash expired bank guarantee as govt dues

LAHORE: Tax authorities have failed to encash expired bank guarantee for recovery of government dues, said sources....

Published 16 Feb, 2024 06:02am

Business & Finance

LCCI partners with ACCA Pakistan to establish dedicated tax clinic

LAHORE: In a significant development aimed at enhancing tax awareness among the business community, the Lahore...

Published 14 Feb, 2024 02:34am

Govt lacks space to pay pending ST refunds: FTO

ISLAMABAD: Federal Tax Ombudsman (FTO) has analysed that the government has no fiscal space for making pending sales...

Updated 28 Jan, 2024 04:51pm

Business & Finance

Debt sustainability: Elevated gross financing needs constitute high risk: IMF

ISLAMABAD: The International Monetary Fund (IMF) has said that elevated gross financing needs continue to pose high...

Published 21 Jan, 2024 03:10am

Opinion

An anatomy of economic clichés/mantras of 2023—II

It would not be out of place to state that a smaller group of economists in the community in these forums also...

Published 14 Jan, 2024 03:13am

Editorials

Broadening tax net: will FBR win big?

EDITORIAL: For years, FBR (Federal Board of Revenue) has tried and failed to expand the tax base, leading to an...

Updated 05 Jan, 2024 12:02pm

Editorials

‘Progress moderately satisfactory’

EDITORIAL: The World Bank has evaluated the ‘Pakistan Raises Revenue project’ as moderately satisfactory. Three...

Published 27 Dec, 2023 05:15am

Adjustment, refund of tax on rental value of property: SHC asks petitioners not to move pleas in next 4 weeks

ISLAMABAD: The Sindh High Court (SHC) directed the petitioners not to move applications in the next four weeks...

Updated 15 Dec, 2023 09:24am

Business & Finance

Provincial revenue authorities’ approach to sales tax on services comes under criticism

LAHORE: Provincial revenue authorities are considering salaries as part of service to charge sales tax on services...

Published 12 Dec, 2023 05:28am

Opinion

Real time access to info and data base

Documentation of Economic transactions in Pakistan, The nature of documentation of Pakistan’s economic environment...

Updated 11 Dec, 2023 06:59am

Business & Finance

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

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 9	278.20
USD PKR Interbank Buying / May 9	278
USD to Japanese Yen / May 9	155.57
USD to Swiss Franc / May 9	0.91
Pound Sterling to USD / May 9	1.25
Euro to USD / May 9	1.07

Stock	Volume
S&P 500 / May 8	5187.67
Nasdaq / May 8	16302.76
Dow Jones / May 8	39056.39
India Sensex / May 9	72965.17
Tokyo Nikkei / May 9	38260.75
Hang Seng / May 9	18532.72
FTSE 100 / May 9	8363.71
Germany DAX 30 / May 9	18547.71

Item	Value
Petrol/Litre / May 9	288.49
Crude Oil USD/Barrel / May 9	79.44
Karachi Cotton PKR/37.32 KG / May 9	19935
Gold 10 Grams PKR / May 9	205075
Gold Spot USD/Ounce / May 9	2318.17
Diesel/Litre / May 9	281.96

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 9 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 9 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 9 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 9 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 9 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 9 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 9 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 9 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 9 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 9 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 9 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 9 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 9 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 9 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 9 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 9 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 9 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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