Oct 23

Industry protests over 20% additional ST on electricity

KARACHI: Industry has strongly protested over imposition of 20 per cent additional sales tax on supply of electricity and said it will destroy the industrial activities and result in mass unemployment. Faisal Moiz Khan, President, North Karachi Association of Trade & Industry (NKATI) in a statement on Saturday expressed deep concerns over the imposition of 20 […]

by Hamza Shahnawaz

Tax rates on payments to non-residents during TY22

Oct 23

Taxation

Tax rates on payments to non-residents during TY22

In a move to streamline tax regulations and provide clarity to businesses, the Federal Board of Revenue (FBR) has released the advance tax rates on payments to non-residents for the tax year 2022.

by Hamza Shahnawaz

Tax rates on return on investment in sukuk for TY22

Oct 23

Taxation

Tax rates on return on investment in sukuk for TY22

The Federal Board of Revenue (FBR) has established the advance tax rates on returns from investment in sukuk for the tax year 2022.

by Hamza Shahnawaz

Advance tax rates on dividend for Tax Year 2022

Oct 23

Taxation

Advance tax rates on dividend for Tax Year 2022

The advance tax rates on dividends for the tax year 2022 are under the First Schedule of the Income Tax Ordinance, 2001. 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. The rate of tax to be deducted under section 150 shall be- (a) 7.5 per […]

by Hamza Shahnawaz

Rates of tax on imports for Tax Year 2022

Oct 23

Taxation

Rates of tax on imports for Tax Year 2022

The advance tax rates for the tax year 2022 are under the First Schedule of the Income Tax Ordinance, 2001. 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. The rate of advance tax to be collected by the Collector of Customs under section 148 shall […]

by Hamza Shahnawaz

Oct 23

Stock & Commodity, Top stories

Weekly Review: stock market likely to remain positive

KARACHI: The stock market is likely to stay positive during the next week as the IMF and Pakistan expected to reach an agreement. Analysts at Arif Habib Limited said that the market to remain positive in the upcoming week. With IMF and Pakistan expected to reach agreement soon, the investor sentiment is anticipated to remain […]

by Faisal Shahnawaz

Oct 23

Money & Banking

Pakistan’s exchange rates on October 23

KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on October 23, 2021 (The rates are updated at 07:51 AM): Currency Buying Selling Australian Dollar (AUD) 128 129.50 Bahrain Dinar (BHD) 386.75 388.50 Canadian Dollar (CAD) 138 140 China Yuan (CNY) 23.75 23.90 Danish Krone (DNK) 23.45 23.75 Euro (EUR) 201 203.50 Hong Kong Dollar (HKD) […]

by Hamza Shahnawaz

FBR suspends credit notes against unregistered supplies

Oct 23

Taxation, Top stories

FBR suspends credit notes against unregistered supplies

The Federal Board of Revenue (FBR) has stirred controversy with its recent decision to suspend credit notes against supplies made to unregistered persons, a move that has drawn strong protests from the Karachi Tax Bar Association (KTBA).

by Faisal Shahnawaz

Engro Corp posts 23% revenue growth in nine months

Oct 23

Corporate, Energy, Stock & Commodity

Engro Corp posts 23% revenue growth in nine months

KARACHI: Engro Corporation Limited has posted a significant 23 per cent growth in consolidated revenue for the nine-month period ended on September 30, 2021. Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the third quarter ended September 30, 2021. Engro delivered a strong operational performance in first nine months of 2021 […]

by Hamza Shahnawaz

Stocks end down by 243 points on political unrest

Oct 23

Stock & Commodity

Stocks end down by 243 points on political unrest

KARACHI: The stocks fell by 243 points on Friday owing to protests by political parties against mounting inflation. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 45,578 points as compared with the previous close of 45,821 points. Analysts at Topline Securities said that the KSE 100 index opened on a positive […]

by Faisal Shahnawaz