Ten-day quarantine must for Pakistanis arriving Turkey

Aug 2

National

Ten-day quarantine must for Pakistanis arriving Turkey

ANKARA: The 10-day quarantine period is remained applicable for Pakistani passengers arriving in Turkey. Pakistani nationals intending to travel to Turkey are advised that the quarantine rules pertaining to passengers arriving in Turkey from Pakistan, announced by the Turkish Government on 28 June 2021 that came into effect on 1 July 2021 are still applicable. […]

by Mrs. Anjum Shahnawaz

Loss adjustment in computing capital gain tax

Aug 2

Taxation

Loss adjustment in computing capital gain tax

Section 38 of Income Tax Ordinance, 2001 outlined the procedure for deducting losses while computing an amount chargeable under the head of capital gain. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section […]

by Faisal Shahnawaz

Capital gain tax on disposal of securities

Aug 2

Taxation

Capital gain tax on disposal of securities

Section 37A of Income Tax Ordinance, 2001 has explained the tax treatment of capital gain on disposal of securities in the capital market. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 37A […]

by Faisal Shahnawaz

Date extended for implementing capital requirement

Aug 2

Stock & Commodity

Date extended for implementing capital requirement

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Monday extended the implementation of liquid capital requirement on securities brokers up to September 01, 2021. Pakistan Stock Exchange (PSX) in a notice said that the SECP had approved that the cutoff date for phased implementation of minimum of Liquid Capital (LC) and relevant ratios […]

by Mrs. Anjum Shahnawaz

KSE-100 gains 398 points amid COVID lockdown

Aug 2

Stock & Commodity

KSE-100 gains 398 points amid COVID lockdown

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday gained 398 points despite implementation of strict lockdown. The index closed at 47,453 points as against last Friday’s closing of 447,055 points, showing an increase of 398 points. Analysts at Arif Habib Limited said Disregarding the stringent COVID lockdown conditions, the KSE-100 index […]

by Mrs. Anjum Shahnawaz

PKR falls by Rs1.24 against dollar in interbank

Aug 2

Money & Banking

PKR falls by Rs1.24 against dollar in interbank

KARACHI: The Pak Rupee (PKR) fell by Rs1.24 against the dollar on Monday due to higher import and other external payments. The rupee ended Rs163.67 to the dollar from previous closing on July 30, 2021 at Rs162.43 in the interbank foreign exchange market. The rupee was remained under pressure during the day due to dollar […]

by Mrs. Anjum Shahnawaz

Aug 2

Money & Banking

KIBOR rates for August 02, 2021

KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on August 02, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.95 7.45 1 – Month 7.01 7.51 3 – Month 7.14 7.39 6 – Month 7.35 7.60 9 – Month 7.46 7.96 1 – Year […]

by Faisal Shahnawaz

New export facilitation scheme implements from August 14

Aug 2

Taxation

New export facilitation scheme implements from August 14

ISLAMABAD: Federal Board of Revenue (FBR) on Monday said the new export facilitation scheme will be applicable from August 14, 2021. The FBR has notified Rules for new Export Facilitation Scheme 2021 which will be effective from 14th August, 2021, a statement said. New Export Facilitation Scheme has been approved by the Federal Government and passed […]

by Faisal Shahnawaz

Aug 2

Taxation

Taxation of capital gain under Section 37

Section 37 of the Income Tax Ordinance, 2001 revealed the tax treatment of capital gain arises during a year of a person.

by Hamza Shahnawaz

SBP approves PIA Sukuk for SLR maintenance

Aug 2

Corporate, Money & Banking

SBP approves PIA Sukuk for SLR maintenance

KARACHI: The State Bank of Pakistan (SBP) on Monday approved Sukuk to be issued by Pakistan International Airlines Company Limited (PIACL) for the requirement of Statutory Liquidity Requirement (SLR). The SBP said that in terms of Government of Pakistan, Ministry of Finance notification S.R.O. 746(I)/2021 dated May 31, 2021, the privately placed Sukuk to be […]

by Mrs. Anjum Shahnawaz