KARACHI – Tax practitioners gathered at a pre-budget seminar organized by the Karachi Tax Bar Association (KTBA) have urged the government to consider reducing the corporate tax rate to 25 percent in the upcoming budget for 2021/2022.
KARACHI: Tax practitioners have advised the Federal Board of Revenue (FBR) to examine withholding statements and extract information of persons not paying taxes and not filing their annual returns. The members of Karachi Tax Bar Association (KTBA) in their pre-budget 2021/2022 seminar urged the FBR for mining of its database to identify new taxpayers & […]
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday issued new timings of trading and office of the exchange effective from Thursday April 29, 2021. In a notification the exchange said that in line with the decision of National Command and Operation Center (NCOC) regarding the COVID-19 situation and subsequent reduction in banking hours by the State […]
KARACHI: The equity market recorded a decline of 234 points on Wednesday while trading in range bound during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,059 points as against previous day’s closing of 455,293 points, showing a decline of 234 points. Analysts at Arif Habib Limited said that the […]
KARACHI: State Bank of Pakistan (SBP) on Wednesday revised the office and public dealing hours of banks. The SBP said that in line with the decision of National Command & Operation Centre (NCOC) to contain the spread of COVID-19, the SBP will observe the following office hours, which will also be followed by all banks […]
KARACHI: The Pak Rupee made a recovery of 62 paisas against the dollar on Wednesday after depreciating the value for seven consecutive trading sessions. The rupee ended Rs153.88 to the dollar from previous day’s closing of Rs154.50 in the interbank foreign exchange market. The latest recovery in the local unit was seen after a continuous […]
KARACHI: K-Electric Limited (KE) – a power generating and supply company – has announced a sharp 222 percent growth in net profit for the quarter ended March 31, 2020 despite massive impairment loss against trade debts during the same period. According to quarterly financial results submitted to Pakistan Stock Exchange (PSX) on Wednesday, the company […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified a panel of advocates to represent tax authorities before various courts and tribunals at Islamabad station. The FBR placed following advocates, on the Panel of FBR, relating to court matters of Inland Revenue Service for a period of three years:- 01. Atti q-Ur-Rehman 02. Usman Ahmed […]
KARACHI: Gul Ahmed Textile Mills Ltd. (GATM) on Wednesday declared unprecedented four-time growth in after tax profit for the nine-month period ended March 31, 2021. According to the financial results, the textile unit declared Rs3.45 billion as profit after tax for the period July – March 2020/2021 as compared with profit after tax of Rs699 […]
KARACHI: Tax authorities have created an income tax demand of over Rs667 million against Bank Alfalah for default in payment and wrongly allocation of expenses. According to official documents made available on Wednesday, a tax office of Federal Board of Revenue (FBR) had issued notice to the bank for recovery of amount. The bank said […]