Section 103 of the Income Tax Ordinance, 2001 explains the tax credit on residents’ foreign income. The Federal Board of Revenue (FBR) issued the updated Income Tax Ordinance, 2001.
Section 102, outlines the tax exemption on foreign-source income for resident individuals, underlining the importance of foreign income tax payments in the exemption process.
Section 101 of the Income Tax Ordinance, 2001 explains about the taxation of the geographical source of income.
ISLAMABAD: The progress on New Gwadar International Airport (NGIA) was on track and it would be fully operational by September, 2023. Secretary aviation division informed the Parliamentary Committee on China Pakistan Economic Corridor (CPEC) was informed here on Thursday. The meeting of the committee was presided over by its Chairman Sher Ali Arbab. He stressed […]
ISLAMABAD: The Korean EXIM Bank will sign a new framework arrangement with Pakistan (2022-2026) for enhancing financing to $1 billion. A high-level Korean Delegation, led by Chong Hwa Lee, Director General, Ministry of Economy & Finance, Republic of Korea called on the Minister for Economic Affairs Omar Ayub Khan in his office during their 2-days […]
KARACHI: National Bank of Pakistan (NBP) on Thursday announced Rs17.047 billion as net profit for half year ended June 30, 2021. The profit is 12.77 per cent higher when compared with Rs15.11 billion in the corresponding half of last year. However, there was no dividend announced. Net Interest Income (NII) of the bank settled at Rs […]
KARACHI: The stock market ended down by 273 points on Thursday as a range bound trading activity was observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,363 points as against previous day’s closing of 47,635 points. Analysts at Arif Habib Limited said that the market traded range bound […]
KARACHI: In a positive turn of events, the Pakistani Rupee (PKR) demonstrated resilience on Thursday, recovering 47 paisas against the US Dollar.
KARACHI: State Bank of Pakistan (SBP) on Thursday issued following Karachi Interbank Offered Rates (KIBOR) on August 26, 2021. Tenor BID OFFER 1 – Week 6.86 7.36 2 – Week 6.93 7.43 1 – Month 7.00 7.50 3 – Month 7.14 7.39 6 – Month 7.29 7.54 9 – Month 7.43 7.93 1 – Year […]
KARACHI, August 26, 2021: The State Bank of Pakistan (SBP) has released the most recent exchange rates for customers on Thursday, August 26, 2021.