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Author: Hamza Shahnawaz

  • Apple launches 4K TV

    Apple launches 4K TV

    CUPERTINO, CALIFORNIA: Apple launched the next generation Apple TV 4K which is more powerful, entertaining and affordable in price.

    Driven by the A15 Bionic chip that delivers faster performance and more fluid gameplay, the new Apple TV 4K features endless entertainment options for everyone to enjoy on the biggest screen in the home. HDR10+ support joins Dolby Vision on Apple TV 4K, so users can watch their favorite movies and TV shows in the best quality possible across more TVs.

    Running tvOS, the powerful and intuitive OS for the living room, and featuring the popular Siri Remote, Apple TV 4K simplifies the way users discover and enjoy their favorite content. Its seamless integration with other Apple devices and services magically transforms the living room in different ways for the entire family, while also adding convenience as a smart home hub.

    The new Apple TV 4K is available in two configurations: Apple TV 4K (Wi-Fi), which offers 64GB of storage; and Apple TV 4K (Wi-Fi + Ethernet), which offers support for Gigabit Ethernet for fast networking and streaming, Thread mesh networking protocol to connect even more smart home accessories, and twice the storage for apps and games (128GB).

    Customers can order the new Apple TV 4K with Siri Remote today at a new starting price of $129, with availability beginning Friday, November 4.

    “Apple TV 4K is the ultimate way for Apple users to enjoy their favorite entertainment on the biggest screen in the home, and now it is more powerful than ever,” said Bob Borchers, Apple’s vice president of Worldwide Product Marketing.

    “The new Apple TV 4K is unlike anything else out there, given its seamless connection to other Apple devices, ease of use, and access to amazing Apple content. It offers something for everyone in the family to love.”

    The next generation of Apple TV 4K is an entertainment powerhouse, bringing the best video and audio capabilities to the biggest screen in the home. At the heart of the new Apple TV 4K is A15 Bionic, making the device even more powerful and energy efficient. CPU performance is now up to 50 percent faster than the previous generation, delivering greater responsiveness, faster navigation, and snappier UI animations. GPU performance is now up to 30 percent faster than the previous generation for even smoother gameplay.

    Apple TV 4K now supports HDR10+, in addition to Dolby Vision, expanding rich visual quality across more TVs, producing the eye-popping details and vibrant colors intended by content creators. Users can also enjoy a home theater experience with Dolby Atmos, Dolby Digital 7.1, or Dolby Digital 5.1 surround sound for immersive audio.

    With the Siri Remote, users enjoy a touch-enabled clickpad that provides speed, fluidity, and precise control to easily navigate the simple, elegant user interface of Apple TV. On the Apple TV app, customers can access award-winning series and films on Apple TV+, as well as over 100,000 movies and series to buy or rent, and direct premium subscriptions to popular streaming services.

    Apple TV 4K works seamlessly with other Apple devices, starting with a magical setup process with iPhone and effortless control at any time with the Apple TV Remote in Control Center. The deep integration of Apple hardware, software, and services with Apple TV 4K unlocks an unparalleled experience that brings the best of the Apple ecosystem to the living room.

    Apple Music offers access to a catalog of over 100 million songs, expertly curated playlists, and music videos through Apple TV 4K. With original content from the most respected and beloved people in music, autoplay, time-synced lyrics, lossless audio, and immersive Spatial Audio with Dolby Atmos, Apple Music offers the world’s best listening experience.

    Apple TV+ is the home of premium drama and comedy series, feature films, documentaries, and kids and family entertainment, including this year’s Oscar Best Picture winner, “CODA”; record-breaking Emmy Award winner “Ted Lasso”; hit drama “Severance”; “Shantaram,” based on the bestselling novel; and acclaimed series “Bad Sisters,” “Mythic Quest,” “Pachinko,” and many more. Viewers can also enjoy films such as “Sidney,” a documentary honoring the legendary Sidney Poitier; “Causeway,” starring and produced by Academy Award winner Jennifer Lawrence; and the holiday story “Spirited,” starring Will Ferrell, Ryan Reynolds, and Octavia Spencer. Apple TV+ also offers live sports, including “Friday Night Baseball,” and Major League Soccer matches coming in early 2023.

    Apple Arcade on Apple TV 4K features award-winning premium games, with new titles and major content updates added weekly, all without ads or in-app purchases. Players can pair popular game controllers to enjoy hit titles like “NBA 2K23 Arcade Edition” and “Jetpack Joyride 2,” along with longtime favorites like “Sneaky Sasquatch,” as well as “Warped Kart Racers” with a new multiuser mode.

    Apple Fitness+ is an award-winning fitness and wellness service designed to be welcoming to all users, wherever they are on their journey, and help them live a healthier day. Apple TV 4K users can enjoy the largest library of workout content in 4K Ultra High Definition with over 3,000 studio-style workouts and meditations, all led by a diverse and inclusive team of trainers. This fall, iPhone users can subscribe to and enjoy Fitness+ in the 21 countries and regions where it is available, even if they don’t have an Apple Watch. Usersonly need an iPhone to sign up, and can then experience Fitness+ on Apple TV, iPhone, and iPad with onscreen trainer guidance and interval timing, and estimated calories burned will be used to make progress on their Move ring. Fitness+ users with Apple Watch can take their motivation to the next level with personalized real-time metrics that display on Apple TV, iPhone, and iPad.

    This fall, new features coming to the Apple TV experience with tvOS 16 include updates to Siri that will make it even easier for customers to use their voice to control Apple TV and interact with the results.5 Siri on Apple TV features a complete redesign, and will be able to recognize each user’s voice, so they can easily access their movies, shows, music, games, and apps, and pick up where they left off. By using the Siri Remote and asking “What should I watch?” users can get tailored recommendations.

    When wearing AirPods, users can say “Hey Siri” to search and enjoy a hands-free way to control Apple TV. Siri support on Apple TV has expanded to Chile, Finland, and South Africa, and will launch in Denmark, Luxembourg, and Singapore later this year, bringing Siri on Apple TV to 30 countries and regions.

    With iCloud Shared Photo Library on Apple TV, everyone in the family will be able to enjoy everyone’s photos together on the big screen. Cross-device connectivity on Apple TV 4K will enable developers to integrate personalized experiences between their iPhone and Apple Watch apps with Apple TV. 

    Users can continue to enjoy SharePlay by starting a FaceTime session on iPhone or iPad and watching a TV show or movie on Apple TV to stay completely in sync — ensuring everyone catches a movie’s dramatic reveal or a show’s punchline at the same moment. With shared playback controls, including using the Siri Remote, anyone in the SharePlay session can play, pause, or jump ahead.

    As a home hub, Apple TV 4K securely connects to compatible smart home accessories, including HomeKit cameras, lights, shades, and more; allows the user to set scenes and control their smart home while away; and ensures that accessories can run automatically. Apple TV 4K is also an essential building block for Matter, the new smart home connectivity standard that enables a wide variety of accessories to work together seamlessly across platforms, helping to fulfill the true vision of a smart home.

    When viewing a HomeKit camera, Apple TV users can control nearby accessories — such as turning on the outdoor lights — or display multiple cameras at the same time on the TV screen for a more complete view. In addition, HomeKit Secure Video uses the on-device intelligence of Apple TV 4K to privately analyze the video to detect people, animals, cars, and package deliveries.6

    With Thread networking support, Apple TV 4K (Wi-Fi + Ethernet) connects compatible Thread-based smart home accessories reliably and securely.

    The new Apple TV 4K is designed to minimize its impact on the environment, using nearly 30 percent less power than the previous generation while achieving more powerful performance. The efficiency gains of A15 Bionic eliminate the need for an internal fan, resulting in a more compact design and contributing to a 25 percent reduction in carbon footprint over the previous generation.

    In a first for Apple TV, Apple TV 4K features 100 percent recycled gold in the plating of multiple printed circuit boards, which also include 100 percent recycled tin in the solder. The thermal module is made with 80 percent recycled aluminum, while the enclosure of the Siri Remote includes 100 percent recycled aluminum. Redesigned packaging removes the outer plastic wrap, and over 90 percent of packaging is fiber based, bringing Apple closer to its goal of completely removing plastic from all packaging by 2025. The Apple TV 4K lineup is free of mercury, BFRs, PVC, and beryllium.

    Today, Apple is carbon neutral for global corporate operations, and by 2030, plans to be 100 percent carbon neutral across the entire manufacturing supply chains and all product life cycles. This means that every Apple device sold, from component manufacturing, assembly, transport, customer use, charging, all the way through recycling and material recovery, will have net-zero climate impact.

    The new Apple TV 4K with Siri Remote will be available starting at $129 (US) from apple.com/store, in the Apple Store app, and at Apple Store locations. Apple TV 4K is also available through Apple Authorized Resellers and select pay TV providers.

    Customers can order the new Apple TV 4K beginning today, with availability starting Friday, November 4, in more than 30 countries and regions, including the US.

    The Siri Remote has the same beloved design and functionality as the previous generation, and adopts USB-C for charging. It is included with the new Apple TV 4K, or can be purchased separately for $59 (US) starting today, and is compatible with all generations of Apple TV 4K and Apple TV HD.

    AppleCare+ will be available for Apple TV, providing three years of technical support and additional hardware coverage, including unlimited incidents of accidental damage protection.

    Customers can try out the new Apple TV 4K at an Apple Store and have their questions answered in person. Before their visit, customers are encouraged to check apple.com/retail for information on opening hours and available services at their chosen store.

    For a limited time, eligible customers who purchase a new iPhone, iPad, Apple TV, or Mac can enjoy three months of Apple TV+ and Apple Arcade for free.

  • KCCI advises importers to manufacture motorcycle spare parts

    KCCI advises importers to manufacture motorcycle spare parts

    Karachi Chamber of Commerce and Industry (KCCI) has advised importers of motorcycle spare parts to set up industry for manufacturing locally.

    KCCI President Mohammad Tariq Yousuf advised the importers of motorcycle spare parts to go for setting up their own cottage industries for manufacturing various spare parts which were currently being imported as it was no more feasible to import these parts because of uncertain situation triggered by unstoppable currency fluctuation.

    READ MORE: KCCI managing committee candidates elected unopposed

    Exchanging views with a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association (MSPIDA) which was led by its Chairman Nasir Maqbool during visit to KCCI, Tariq Yousuf stressed that setting up small industries for manufacturing spare parts was the only solution to most of the problems being faced by traders including exorbitant customs duty, delays in clearance of consignments, heavy demurrage/ detention losses and high cost of imported goods due to rising dollar value.

    “You have to go for import-substitution otherwise, all the issues being faced today would remain as they are in future so you must look into the possibility of becoming independent by setting up small manufacturing units,” he added.

    READ MORE: APTMA demands immediate release of textile machinery

    Senior Vice President KCCI Touseef Ahmed, Vice President KCCI Muhammad Haris Agar, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Former President KCCI Iftikhar Ahmed Vohra, Former Chairman MSPIDA Faisal Khalil, KCCI Managing Committee Members and MSPIDA Members also attended the meeting.

    Tariq Yousuf assured that the Karachi Chamber, being the actual representative of the entire business and industrial community, was well-aware of the issues being faced by shopkeepers due to rising street crimes and has constantly been pushing the Law Enforcing Agencies to take stringent steps so that they could fearlessly carry out their businesses.

    READ MORE: Date extension demanded for electricity bills payment

    “Any MSPIDA member, who faces problems in dealing with any law-and-order issues can easily get in touch with KCCI’s Police Chamber Liaison Committee and Law & Order Subcommittee who are working round-the-clock to help out the perturbed shopkeepers, businessmen as well as the industrialists”, he said.

    Moreover, all MSPIDA members facing delays in clearance of imported goods can also approach KCCI and we will get in touch with the Customs Authorities and the State Bank of Pakistan so that the imported items could be cleared within the earliest possible time which would save importers from suffering grave losses on account of demurrage and detention charges, assured President KCCI.

    He also stressed that the government must look into the possibility of bringing down customs duty of spare parts and rationalize Valuation rulings as these were not supporting the economy but paving way for smuggling and causing losses to the national exchequer.

    READ MORE: Power tariff hike termed disaster for industries

    Earlier, Chairman PASPIDA Nasir Maqbool, in his short remarks, congratulated the newly elected Office Bearers and hoped that the support and cooperation between the two institutions would strengthen further in the days to come and collective efforts will be made for resolving numerous issues particularly the Customs and Valuation issues being faced by the importers of spare parts.

    Speaking on the occasion, Former Chairman PASPIDA, while agreeing with President KCCI’s viewpoint about import-substitution, stated that although many importers of spare parts have established small manufacturing units so that they could locally manufacture various imported items but the raw material required for manufacturing these spare parts has also been blocked under Customs Tariff Section 84 and 85 which needs attention.

    He said that exorbitant customs duty of 35 percent along with 11 percent additional duty, high GST and other levies were having an overall impact of around 90 percent on the cost of imported spare parts of motorcycles, making this important mode of travelling costlier and beyond the reach of poor segment of society.

    “We request KCCI to take up this important issue with relevant policymakers in Islamabad so that the customs duty and other taxes could be drastically reduced which would not only save relevant businesses but also prove favorable for the economy by discouraging widespread smuggling of spare parts”, he added.

  • OPF provides employment prospects for returning migrants

    OPF provides employment prospects for returning migrants

    ISLAMABAD: For smooth integration and economic empowerment of returning migrants, Overseas Pakistanis Foundation (OPF) organized a ceremony where returning migrants were presented toolkits in the trades of electrician, plumber, carpenter, motor cycle mechanic and mason as an In-Kind support to help them start sustained self-employment.

    The activity is part of OPF efforts to support returning migrants to make a new start in Pakistan and achieve a sustainable employment.

    OPF is implementing a program on economic reintegration of returnees in collaboration with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in Pakistan.

    It is commissioned by the Federal Ministry for Economic Cooperation & Development Germany, (BMZ) and is part of BMZ support for voluntary return & sustainable reintegration.

    A Pakistani-German Facilitation & Reintegration Centre (PGFRC) has been established in OPF premises, Lahore with an advisory desk in OPF head office Islamabad. PGFRC is supporting and assisting returning migrants and the local population to have a sustainable source of income.

    The ceremony was attended by the Chief Guest, Syed Mustafa Haider, Director welfare OPF, trade specific toolkits were handed over to 80 returning migrants as an In-Kind Support. These migrants have also completed a comprehensive business development training from PGFRC.

    Dr. Mansoor Zaib Khan, Head of PGFRC, GIZ officials, members of Senate and National Assembly Standing Committees on Overseas Pakistanis & HRD, Members, OPF Board of Governors, senior government officials, representatives of international organizations and civil society representatives also attended the ceremony.

    Syed Mustafa Haider, Director welfare OPF said that today’s ceremony is a testament to the commitment of Government of Pakistan which considers overseas Pakistanis as its roaming ambassadors abroad and is actively engaged in resolving their reintegration issues in Pakistan. Ministry of OP&HRD, through OPF is working in a focused manner on this issue.

    Dr. Mansoor Zaib Khan, Head of PGFRC is informed that PGFRC is open to all Pakistani’s and all our services are free of charge. PGFRC is providing advice on training and skills development, technical and vocational training, advice on job market trends and opportunities, advice on finding a job in Pakistan, entrepreneurship and start-up support, psychosocial support, and information on the health system in Pakistan, information on living conditions and advice on getting microfinance and loans.

    He mentioned that more than 800 returning migrants in the trades of electrician, plumber, carpenter, and mason will benefit from this capacity building leading to In-Kind support intervention.

    Several Pakistanis migrate abroad to work, but at some point, in their lives, they return to Pakistan and struggle to re-establish themselves and make a respectable living. Furthermore, the COVID19 pandemic impacted Pakistanis living in other countries, resulting in huge layoffs and the return and repatriation of tens of thousands of migrants from their intended destinations. When they returned, these migrants are very concerned about their job prospects. In these trying times, the PGFRC is a ray of hope.

  • Rupee fall continues; Dollar ends at PKR 219.71 in interbank

    Rupee fall continues; Dollar ends at PKR 219.71 in interbank

    KARACHI: Pakistani Rupee (PKR) continued to fall against the dollar to end at PKR 219.71 on Tuesday at interbank foreign exchange market.

    The rupee recorded a decline of 82 paisas to end at PKR 219.71 against the dollar from previous day’s closing of PKR 218.89 in the interbank foreign exchange market.

    READ MORE: PKR falls to dollar in interbank on Oct 17, 2022

    Currency experts said that the local currency was under pressure during the day due to rising dollar demand for import payments and falling foreign exchange reserves.

    The dollar rebounded on October 12, 2022 after making a losing streak for straight 13 sessions to the rupee.

    READ MORE: PKR falls against dollar on depleting forex reserves

    The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 217.79 on October 10, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    The rupee hit all-time low of PKR 239.94 against the dollar on July 28, 2022.

    READ MORE: Dollar ends up to PKR 218.38 in interbank on Oct 13, 2022

    Pakistan’s foreign exchange reserves continued to decline and depleted by $342 million to $13.247 billion by week ended October 07, 2022. The foreign exchange reserves of the country were at $13.589 billion a week ago i.e. September 30, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.981 billion.

    They said that the rupee had made gain during the past couple of weeks due to various measures taken by the central bank to curb the dollar hoarding.

    READ MORE: Dollar ends 13-day losing streak; ends at PKR 217.88

  • Tax rates on payments for goods, services during 2022-2023

    Tax rates on payments for goods, services during 2022-2023

    Federal Board of Revenue (FBR) has issued latest withholding tax rates on payments to goods, services and contracts during the year 2022-2023.

    The FBR issued the withholding tax card for tax year 2023 (July 01, 2022 to June 30, 2023) after amending the Income Tax Ordinance, 2001 through changes brought through Finance Act, 2022.

    Following is the text of Section 153 related to Payments to goods, services and cotracts and rates of withholding tax (in bold):

    Section 153. Payments for goods, services and contracts.—

    (1) Every prescribed person making a payment in full or part including a payment by way of advance to a resident person —

    (a) for the sale of goods including toll manufacturing, except where payment is less than seventy-five thousand Rupees in aggregate, during a financial year;

    The withholding tax rate under Section 153(1)(a) in case of sales of rice, cotton seed or edible oils is 1.5 per cent for return filers and 3 per cent for persons not on the Active Taxpayers List (ATL).

    The withholding tax rate under Section 153(1)(a) in case of sales of goods by a company, is 4 per cent for return filers and 8 per cent for persons not on the Active Taxpayers List (ATL).

    The withholding tax rate under Section 153(1)(a) in case of sales of goods by any other, is 4.5 per cent for return filers and 9 per cent for persons not on the Active Taxpayers List (ATL).

    (b) for the rendering of or providing of services except where payment is less than thirty thousand Rupees in aggregate, during a financial year;

    The withholding tax rates under Section 153(1)(b) in case of certain service is 3 per cent and 6 per cent for persons not on the ATL.

    The withholding tax rates under Section 153(1)(b) for services other than mentioned above in case of company, is 8 per cent and 16 per cent for persons not on the ATL.

    The withholding tax rates under Section 153(1)(b) for services other than mentioned above in any other case, is 10 per cent and 20 per cent for persons not on the ATL.

    The withholding tax rates under Section 153(1)(b) in respect of persons making payments to electronic and print media for advertising services, is 1.5 per cent and 3 per cent for persons not on the ATL.

    (c) on the execution of a contract, including contract signed by a sportsperson but not including a contract for the sale of goods

    or the rendering of or providing services, shall, at the time of making the payment, deduct tax from the gross amount payable (including sales tax, if any) at the rate specified in Division III of Part III of the First Schedule;

    Provided that where the recipient of the payment under clause (b) receives the payment through an agent or any other third person and the agent or, as the case may be, the third person retains service charges or fee, by whatever name called, from the payment remitted to the recipient, the agent or the third person shall be treated to have been paid the service charges or fee by the recipient and the recipient shall collect tax along with the payment received.

    The rate of withholding tax under Section 153(1)(c) in case of sportsperson is 10 per cent for income tax return filer and 20 per cent for persons not on ATL.

    The rate of withholding tax under Section 153(1)(c) for a company is 6.5 per cent for income tax return filer and 13 per cent for persons not on ATL.

    The rate of withholding tax under Section 153(1)(c) any other case is 7 per cent for income tax return filer and 14 per cent for persons not on ATL.

    (2) Every exporter or an export house making a payment in full or part including a payment by way of advance to a resident person or permanent establishment in Pakistan of a non-resident person for rendering of or providing services of stitching, dying, printing, embroidery, washing, sizing and weaving, shall at the time of making the payment, deduct tax from the gross amount payable at the rate specified in Division IV of Part III of the First Schedule.

    The withholding tax rate under Section 153(2) is one per cent for income tax return filers and 2 per cent for persons not on the ATL.

    (3) The tax deductible under sub-section (1) and under sub-section (2) of this section, on the income of a resident person or, shall be minimum tax.

    Provided that,—

    (a) tax deducted under clause (a) of sub-section (1) shall not be minimum tax where payments are received on sale or supply of goods, by a, —

    (i) company being a manufacturer of such goods; or

    (ii) public company listed on a registered stock exchange in Pakistan;

    (c) tax deducted under clause (c) of sub-section (1) shall be adjustable if payments are received by a public company listed on a registered stock exchange in Pakistan, on account of execution of contracts.

    “Explanation.— For the removal of doubt, it is explained that the income of resident person referred to in sub-section (3) means the amount on which tax is deductible under sub-section (1) or (2) of this section.

    (4) The Commissioner may, on application made by the recipient of a payment referred to in sub-section (1) and after making such inquiry as the Commissioner thinks fit, may allow in cases where tax deductible under sub-section (1) is not minimum, by an order in writing, any person to make the payment,—

    (a) without deduction of tax; or

    (b) deduction of tax at a reduced rate;

    Provided that the Commissioner shall issue certificate for payment under clause (a) of sub-section (1) without deduction of tax within fifteen days of filing of application to a company if advance tax liability has been discharged:

    Provided further that the Commissioner shall be deemed to have issued the exemption certificate upon the expiry of fifteen days to the aforesaid company and the certificate shall be automatically processed and issued by Iris:

    Provided also that the Commissioner may modify or cancel the certificate issued automatically by Iris on the basis of reasons to be recorded in writing after providing an opportunity of being heard.

    (5) Sub-section (1) shall not apply to —

    (a) a sale of goods where the sale is made by the importer of the goods and tax under section 148 in respect of such goods has been paid and the goods are sold in the same condition as they were when imported;

    (c) a refund of any security deposit;

    (d) a payment made by the Federal Government, a Provincial Government or a Local Government to a contractor for

    construction materials supplied to the contractor by the said Government or the authority;

    (f) the purchase of an asset under a lease and buy back agreement by a modaraba, leasing company, banking company or financial institution; or

    (g) any payment for securitization of receivables “or issuance of sukuks” by a Special Purpose Vehicle to the Originator.

    (6) Where any tax is deducted by a person making a payment for a Special Purpose Vehicle, on behalf of the Originator, the tax is credited to the Originator.

    (7) In this section, —

    (i) “prescribed person” means—

    (a) the Federal Government;

    (b) a company;

    (c) an association of persons constituted by, or under law;

    (d) a non-profit organization;

    (e) a foreign contractor or consultant;

    (f) a consortium or joint venture;

    (g) an exporter or an export house for the purpose of sub-section (2);

    (h) an association of persons, having turnover of one hundred million rupees or above in any of the preceding tax years;

    (i) an individual, having turnover of one hundred million rupees or above in any of the preceding tax years;

    (j) a person registered under the Sales Tax Act, 1990 having turnover of one hundred million rupees or more in any of the preceding tax years; or

    (k) a person deriving income from the business of construction and sale of residential, commercial or other buildings (builder); or

    (l) a person deriving income from the business of development and sale of residential, commercial or other plots (developer).

    (ii) “services” includes the services of accountants, architects, dentists, doctors, engineers, interior decorators and lawyers, otherwise than as an employee;

    (iii) “sale of goods” includes a sale of goods for cash or on credit, whether under written contract or not;

    (iv) “manufacturer” means a person who is engaged in production or manufacturing of goods, which includes—

    (a) any process in which an article singly or in combination with other articles, material, components, is either converted into another distinct article or product is so changed, transferred, or reshaped that it becomes capable of being put to use differently or distinctly; or

    (b) a process of assembling, mixing, cutting or preparation of goods in any other manner; and

    (v) “turnover” means—

    (a) the gross sales or gross receipts, inclusive of sales tax and federal excise duty or any trade discounts shown on invoices, or bills, derived from the sale of goods;

    (b) the gross fees for the rendering of services for giving benefits including commissions;

    (c) the gross receipts from the execution of contracts; and

    (d) the company’s share of the amounts stated above of any association of persons of which the company is a member.

    READ MORE: Tax rates on payments to non-residents during 2022-2023

    READ MORE: Up to 70% income tax imposed on dividends for year 2022-2023

    READ MORE: FBR updates salary tax card for year 2022-2023

    READ MORE: FBR issues withholding tax rates on imports for tax year 2022-2023

    READ MORE: Tax rates on profit from bank deposits during year 2022/2023

  • Foreign currency rates in PKR – October 18, 2022

    Foreign currency rates in PKR – October 18, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on October 18, 2022 (The rates are updated at 09:00 AM (Pakistan Standard Time):

    CURRENCY NAMEBUYINGSELLING
    US DOLLAR $ (USD)223.50225.75
    SAUDI RIYAL (SAR)59.2559.85
    UAE DIRHAM (AED)61.5062.50
    EURO (EUR)220.00222.20
    UK POUND (GBP)253.50256.50
    JAPANESE YEN (JPY)1.491.51
    SWISS FRANC (CHF)221.83222.83
    DANISH KRONE (DKK)29.0629.16
    NORWEGIAN KRONE (NOK)20.8820.98
    SWEDISH KRONA (SEK)19.7019.80
    AUSTRALIAN DOLLAR (AUD)139.00141.00
    CANADIAN DOLLAR (CAD)161.50163.50
    INDIAN RUPEE (INR)2.302.70
    CHINESE YUAN (CNY)30.0032.00
    AFGHAN AFGHANI (AFN)2.002.50

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Foreign currency rates in PKR – October 17, 2022

  • Pakistani Rupee to US Dollar on October 18, 2022

    Pakistani Rupee to US Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 223.50 to the US Dollar

    Selling: Rs 225.75 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 17, 2022

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    Pakistani Rupee to Saudi Riyal on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 59.25 to the Saudi Riyal

    Selling: Rs 59.85 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 17, 2022

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    Pakistani Rupee to Euro on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 220.00 to the Euro

    Selling: Rs 222.20 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 17, 2022

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    Pakistani Rupee to UK Pound Sterling on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 253.50 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 17, 2022

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    Pakistani Rupee to UAE Dirham on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 61.50 to the UAE Dirham

    Selling: Rs 62.50 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 17, 2022

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    Pakistani Rupee to Canadian Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 161.50 to the Canadian Dollar

    Selling: Rs 163.50 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 17, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pakistani Rupee to Canadian Dollar on October 18, 2022

    Pakistani Rupee to Canadian Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 161.50 to the Canadian Dollar

    Selling: Rs 163.50 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 17, 2022

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    Pakistani Rupee to US Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 223.50 to the US Dollar

    Selling: Rs 225.75 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 17, 2022

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    Pakistani Rupee to Saudi Riyal on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 59.25 to the Saudi Riyal

    Selling: Rs 59.85 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 17, 2022

    ————————————————-

    Pakistani Rupee to Euro on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 220.00 to the Euro

    Selling: Rs 222.20 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 17, 2022

    ————————————————-

    Pakistani Rupee to UK Pound Sterling on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 253.50 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 17, 2022

    ————————————————-

    Pakistani Rupee to UAE Dirham on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 61.50 to the UAE Dirham

    Selling: Rs 62.50 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 17, 2022

    ————————————————-

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pakistani Rupee to UAE Dirham on October 18, 2022

    Pakistani Rupee to UAE Dirham on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 61.50 to the UAE Dirham

    Selling: Rs 62.50 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 17, 2022

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    Pakistani Rupee to Canadian Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 161.50 to the Canadian Dollar

    Selling: Rs 163.50 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 17, 2022

    ————————————————-

    Pakistani Rupee to US Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 223.50 to the US Dollar

    Selling: Rs 225.75 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 17, 2022

    ————————————————-

    Pakistani Rupee to Saudi Riyal on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 59.25 to the Saudi Riyal

    Selling: Rs 59.85 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 17, 2022

    ————————————————-

    Pakistani Rupee to Euro on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 220.00 to the Euro

    Selling: Rs 222.20 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 17, 2022

    ————————————————-

    Pakistani Rupee to UK Pound Sterling on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 253.50 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 17, 2022

    ————————————————-

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Pakistani Rupee to UK Pound Sterling on October 18, 2022

    Pakistani Rupee to UK Pound Sterling on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 253.50 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 17, 2022

    ————————————————-

    Pakistani Rupee to UAE Dirham on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 61.50 to the UAE Dirham

    Selling: Rs 62.50 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 17, 2022

    ————————————————-

    Pakistani Rupee to Canadian Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 161.50 to the Canadian Dollar

    Selling: Rs 163.50 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 17, 2022

    ————————————————-

    Pakistani Rupee to US Dollar on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 223.50 to the US Dollar

    Selling: Rs 225.75 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 17, 2022

    ————————————————-

    Pakistani Rupee to Saudi Riyal on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 59.25 to the Saudi Riyal

    Selling: Rs 59.85 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 17, 2022

    ————————————————-

    Pakistani Rupee to Euro on October 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 18, 2022:

    Buying: Rs 220.00 to the Euro

    Selling: Rs 222.20 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 17, 2022

    ————————————————-

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.