Pakistan Customs has successfully seized a cache of arms and ammunition from an Afghan registered import vehicle at Torkham station, as announced by the Federal Board of Revenue (FBR) on Friday.
(more…)Author: Hamza Shahnawaz
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Tax rates on usage of phone, internet for 2021-2022
The Federal Board of Revenue (FBR) has announced the updated rates of withholding tax on the usage of telephone and internet services for the fiscal year 2021-2022.
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FBR notifies major reshuffle of IRS officers
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday notified a major reshuffle in the top bureaucracy of BS-20 and BS-21 officers in Inland Revenue Service (IRS).
The FBR in a notification said that all officers being transferred and posted shall relinquish/assume their charges in accordance with this notification with effect from September 01, 2021:-
Following IRS officers of BS-20-21 are transferred:
01. Nazir Ahmad Shoro (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), stationed at Karachi from the post of Chief Commissioner, Regional Tax Office I, Karachi.
02. Dr. Ashfaq Ahmad Tunio (Inland Revenue Service/BS-21) has been transferred and posted as Member, (IT) Federal Board of Revenue (Hq), Islamabad from the post of Director General, Directorate General of Internal Audit (Inland Revenue), Islamabad.
03. Syed Maroof Gilani (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (Hq), stationed at Karachi from the post of Chief Commissioner, Regional Tax Office, Bahawalpur.
04. Amir Ali Khan Talpur (Inland Revenue Service/BS-21) has been transferred and posted as Director General, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad from the post of Chief Commissioner, Regional Tax Office II, Karachi.
05. Qaiser Iqbal (Inland Revenue Service/BS-21) has been transferred and posted as Member, (IR-Operations) FederalBoard of Revenue (Hq),Islamabad. (He will also hold theadditional charge of the post ofDirector General International TaxOperations as per Rules. He has been transferred from the post of Chief Commissioner, LargeTaxpayers Office, Lahore.
06. Dr.Lubna Ayub (Inland Revenue Service/BS-21) has been transferred and posted as Member, (Special Initiatives), stationed at Karachi from the post of Chief Commissioner, Regional Tax Office, Quetta.
07. Muhammad Naseer Butt (Inland Revenue Service/BS-21) has been transferred and posted as Member, (Admn/HR) FederalBoard of Revenue (Hq), Islamabad from the post of Chief Commissioner, LargeTaxpayers Office, Islamabad.
8 Mr. Sajidullah Siddiqui (Inland Revenue Service/BS-21) has been transferred and posted as Director General, (Retail) Federal Board of Revenue (Hq), Islamabad from the post of Member, (IT) Federal Board of Revenue (Hq), Islamabad.
09. Tariq Mustafa Khan (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Regional Tax Office I, Karachi from the post of Chief Commissioner, Regional Tax Office, Gujranwala.
10. Sardar Ali Khawaja (Inland Revenue Service/BS-21) has been transferred and posted as Member, (Accounting) Federal Board of Revenue (Hq), Islamabad from the post of Chief Commissioner, Regional Tax Office, Peshawar.
11. Ahmad Shuja Khan (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Large Taxpayers Office, Lahore from the post of Chief Commissioner, Regional Tax Office, Lahore
12. Bakhtiar Muhammad (Inland Revenue Service/BS-21) has been transferred and posted as Director General, DirectorateGeneral of Internal Audit (InlandRevenue), Islamabad from the post of Member, (Admin/HR) Federal Board of Revenue (Hq), Islamabad.
13. Malik Amjad Zubair Tiwana (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Large Taxpayers Office, Islamabad from the post of Chief Commissioner, Corporate Tax Office, Islamabad.
14. Karamatullah Khan Chaudhry (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue Regional Tax Office, Gujranwala from the post of Director General, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad.
15. Hyder Ali Dharejo (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office II, Karachi from the post of Chief Commissioner, Regional Tax Office, Sukkur.
16. Afaque Ahmed Qureshi (Inland Revenue Service/BS-20) has been transferred and posted as Member, (OPS) (IR-Policy) Federal Board of Revenue (Hq), Islamabad from the post of Chief Commissioner, (OPS) Regional Tax Office, Abbottabad.
17. Sajid Nazir Malik (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office, Abbottabad from the post of Commissioner-IR, Commissioner Inland revenue (Appeals-IV), Karachi.
18. Dr. Muhammad Sarmad Qureshi (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office, Bahawalpur from the post of Commissioner, (Legal) Large Taxpayers Office, Lahore.
19. Ms. Tehmina Aamer (Inland Revenue Service/BS-20) has been transferred and posted as Director General, (OPS) Directorate General of Broadening of Tax Base, Islamabad. (The officer shall also hold additional charge of the post of Chief (FATE), FBR (Hq), as per Rules. The officer has been transferred from the post of Chief, (FATE Wing) Federal Board of Revenue (Hq), Islamabad.
20. Qasim Raza Khan (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Corporate Tax Office, Islamabad from the post of Chief, (Legal-III) Federal Board of Revenue (Hq), Islamabad.
21 Mr. Shahid Mehmood Sheikh (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office, Quetta from the post of Regional Tax Office II, Karachi.
22. Mohammad Farooq Azam Memon (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office, Sukkur from the post of Commissioner, Commissioner Inland Revenue (Appeals-II), Karachi.
23. Nasir Iqbal (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner InlandRevenue (OPS) Regional TaxOffice, Lahore has been transferred and posted as Commissioner, (Enforcement) Large Taxpayers Office, Islamabad.
24. Khurshid Ahmad Khan Marwat (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue (OPS) Regional Tax Office, Peshawar from the post of Chief, (Admin Pool) Federal Board of Revenue (Hq), Islamabad.
The FBR said that the officers, who are drawing a performance allowance prior to issuance of the notification, shall continue to draw this allowance on the new place of posting.
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Indus Motors announces 152% growth in annual profit
KARACHI: Indus Motor Company Limited on Friday announced 152 per cent increase in profit after tax for the year 2020/2021.
The company declared Rs12.83 billion as profit after tax for the year 2020/2021 as compared with Rs5.08 billion in the preceding year.
The company declared Rs163.21 as earnings per share for the year under review as compared with EPS Rs64.66 of the last year.
Indus Motors announced Rs103.50 as dividend per share for the year as compared with Rs30 in the preceding year.
According to analysts at Arif Habib Limited, Net sales of the company increased by 108 per cent YoY to Rs179 billion in FY21 attributable to volumetric growth of 102 per cent YoY to 57,236 units (Yaris 28,295 units, Corolla 18,355 units, Fortuner 3,543 units, Hilux 7,043 units) vs. 28,378 units (Corolla 22,140 units, Yaris 1,327 units, Fortuner 1,163 units, Hilux 3,748 units) in FY20.
Revenue during 4QFY21 increased by 364 per cent YoY to Rs 48 billion. This is primarily owing to surge in sale of cars by 373 per cent YoY during 4QFY21 (14,566 vs. 3,078 units).
Gross margins settled at 12.28 per cent in the quarter, up by 307bps QoQ due to appreciation of Rs against green back.
Other income increased by 94 per cent YoY to Rs 1,686 million on account of significant jump in short term investment (government securities), and cash and bank balance.
Effective tax rate during 4QFY21 was set at 30.75 per cent in contrast to 47.32 per cent in 4QFY20.
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Stock market ends down by 227 points
KARACHI: The stock market remained under pressure on Friday and closed with a decline of 227 points.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,137 points as against 47,363 points.
Analysts at Topline Securities said that the market largely remained under pressure during the trading session.
Major contributions to the index came from Meezan Bank Limited (MEBL), Systems Limited (SYS) and Lucky Cement (LUCK), as they cumulatively contributed to 100 points.
On the other hand Engro Corporation Limited (ENGRO), Habib Bank Limited (HBL), International Industries (INIL), Service Industries Limited (SRVI) and Oil and Gas Development Company (OGDC), as they weighed down on the index by 110 points.
Traded volume and value for the day stood at 382 million shares and Rs.13.3 billion.
World Call Telecom Limited (WTL) was today`s volume leader with around 31.6 million shares.
Indus Motors Company Limited (INDU) posted its 4QFY21 result announcement in which its posted earnings per share of Rs56.1 along with a final cash dividend of Rs.36.5/share.Bank of Punjab (BOP) in the banking space posted 2Q2021 EPS of Rs1.4. Abbott Laboratories (Pakistan) Limited (ABOT) for its 2Q2021 posted EPS of Rs.18.79 along with an Interim cash dividend of Rs.20/share.
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Pak Rupee to Saudi Riyal on August 27, 2021
KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 27, 2021:
Buying: Rs 44.20 to the Saudi Riyal
Selling: Rs 44.70 to the Saudi Riyal
We update rates hourly so we can offer you the best SAR to PKR.
The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
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.
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Pak Rupee to UAE Dirham on August 27, 2021
KARACHI, August 27, 2021 – The exchange rates for the UAE Dirham (AED) against the Pakistani Rupee (PKR) in the open market have been reported as follows:
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Pak Rupee to Euro on August 27, 2021
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 27, 2021:
Buying: Rs 194 to the Euro
Selling: Rs 196 to the Euro
We update rates hourly so we can offer you the best EUR to PKR.
The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
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.
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Pak Rupee to UK Pound on August 27, 2021
KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 27, 2021:
Buying: Rs 227 to the UK Pound Sterling
Selling: Rs 230 to the UK Pound Sterling
We update rates hourly so we can offer you the best GBP to PKR.
The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.
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.
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Pak Rupee to US Dollar on August 27, 2021
August 27, 2021 – KARACHI – The exchange rate between the US Dollar (USD) and the Pakistani Rupee (PKR) has experienced fluctuations in the open market, with rates updated hourly to provide the most competitive values for currency traders and businesses.
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