Pakistan Revenue
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Monday gained 398 points despite implementation of strict lockdown. The index closed at 47,453 points as against last Friday’s closing of 447,055 points, showing an increase of 398 points. Analysts at Arif Habib Limited said Disregarding the stringent COVID lockdown conditions, the KSE-100 index […]
Continue Reading
KARACHI: The Pak Rupee (PKR) fell by Rs1.24 against the dollar on Monday due to higher import and other external payments. The rupee ended Rs163.67 to the dollar from previous closing on July 30, 2021 at Rs162.43 in the interbank foreign exchange market. The rupee was remained under pressure during the day due to dollar […]
Continue Reading
KARACHI: The State Bank of Pakistan (SBP) on Monday approved Sukuk to be issued by Pakistan International Airlines Company Limited (PIACL) for the requirement of Statutory Liquidity Requirement (SLR). The SBP said that in terms of Government of Pakistan, Ministry of Finance notification S.R.O. 746(I)/2021 dated May 31, 2021, the privately placed Sukuk to be […]
Continue Reading
Section 35 of Income Tax Ordinance, 2001 has explained tax treatment on disposal of stock in trade. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021.
Continue Reading
KARACHI: The Pak Rupee sharply fell to Rs163.05 against the dollar during midday trade in interbank foreign exchange market on Monday. The rupee fell by 62 paisas against the dollar in intraday trade. The import payment demand deteriorated the rupee value. Currency experts said that higher dollar demand was as the market opened after two […]
Continue Reading
In July 2021, Pakistan experienced a notable shift in inflationary trends, with the headline inflation based on the Consumer Price Index (CPI) registering at 8.4 percent year-on-year, down from 9.7 percent in June 2021.
Continue Reading
KARACHI: Association of Builders and Developers (ABAD) has urged the government to extend the amnesty scheme for six months to document another Rs1 trillion. Fayyaz Ilyas, Chairman, ABAD, in a statement said that the investment in Construction Industry will double to Rs2 trillion if special construction package is extended at least for six months. Quoting […]
Continue Reading
KARACHI: The intricacies of accounting methods for income tax purposes are elucidated in Sections 32, 33, and 34 of the Income Tax Ordinance, 2001, as outlined by the Federal Board of Revenue (FBR).
Continue Reading
Section 31 of Income Tax Ordinance, 2001 has allowed transfer of participatory reserve on certain circumstances. 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. 31. Transfer to participatory reserve.—(1) Subject to this section, a company shall be allowed […]
Continue Reading
KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 1, 2021: Buying: Rs 187.50 to the Euro Selling: Rs 189.50 to the Euro We update rates hourly so we can offer you the best EUR to PKR. The Euro /PKR parity […]
Continue Reading