The Federal Board of Revenue (FBR) has outlined critical provisions related to the exploration and production of oil, natural gas, and other minerals under Section 100 of the Income Tax Ordinance, 2001. This section, updated through the Finance Act, 2021, provides a framework for taxation specific to the energy and mining sectors, reflecting their importance to Pakistan’s economy.
(more…)Author: Hamza Shahnawaz
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Pak Rupee to Saudi Riyal on August 21, 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 21, 2021:
Buying: Rs 43.50 to the Saudi Riyal
Selling: Rs 44.00 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 21, 2021
KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 21, 2021:
Buying: Rs 44.50 to the UAE Dirham
Selling: Rs 45.00 to the UAE Dirham
We update rates hourly so we can offer you the best AED to PKR.
The UAE Dirham /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 Euro on August 21, 2021
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 21, 2021:
Buying: Rs 190.60 to the Euro
Selling: Rs 192.60 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 21, 2021
Karachi, August 21, 2021 – The open market in Pakistan witnessed dynamic fluctuations in the exchange rates of the UK Pound Sterling (GBP) against the Pakistani Rupee (PKR) on August 21, 2021.
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Pak Rupee to US Dollar on August 21, 2021
KARACHI, August 21, 2021 – The exchange rates between the US Dollar (USD) and the Pakistani Rupee (PKR) held steady in the open market August 21, 2021, with the buying rate at Rs 163.80 and the selling rate at Rs 164.80.
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Foreign exchange rates on August 21, 2021
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 21, 2021:
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Taxpayers receive mechanical notices for return filing
Taxpayers across Karachi are facing undue stress as they continue to receive auto-generated notices for filing income tax returns of previous years, despite the Federal Board of Revenue (FBR) assuring that such notices would only be issued after scrutiny by the Commissioner Inland Revenue.
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Special tax provisions relating to various businesses
Section 99 of Income Tax Ordinance, 2001 discussed special tax provisions related to various businesses including profits and gains of any insurance business shall be computed in accordance with the rules in the Fourth Schedule.
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Treatment of deduction in change of entity control
Treatment of deduction in change of entity control has been explained under Section 98 of the Income Tax Ordinance, 2001 as it plays a significant role in addressing changes in ownership and business continuity, ensuring that the tax implications are appropriately managed.
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