Pakistan Revenue
KARACHI: The State Bank of Pakistan (SBP) on Monday allowed banks to issue guarantees on behalf of Pakistani firms and companies against the back to back / counter – guarantees of banks/development financial institutions (DFIs) rated at least A or equivalent by a credit rating agency on approved panel of the SBP. The SBP amended […]
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KARACHI: The Pak Rupee fell by 34 paisas against the dollar on Monday owing to demand for import and corporate payments. The rupee ended Rs153.70 to the dollar from last Friday’s closing of Rs153.36 in the interbank foreign exchange market. Currency experts said that due to first day of the week the demand for import […]
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ISLAMABAD: Pakistan Telecommunication Authority (PTA) has issued advisory for telecom consumers to avoid billing shocks while subscribing broadband internet packages. The PTA on Sunday said that following options may be considered/exercised to avoid billing issues and avail mobile broadband services at affordable rates/prices: — Standard / baseline mobile data (default) rates are generally costly/expensive, therefore, […]
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KARACHI: Pakistan Stock Exchange (PSX) has pointed out that at present timelines for exemption from Capital Gain Tax (CGT) are discouraging long-term investors from entering the Real Estate Sector. Moreover, different Real Estate Investment Trust (REIT) categorization have created distortion and excluded commercial and mixed-use REIT projects, the PSX highlighted the issue in its proposals […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to exempt withholding tax on transactions made for future contracts at commodity exchange. The Pakistan Stock Exchange (PSX) in budget proposals 2021/2022 submitted to the FBR, highlighted the issue and stated that currently, buyer of a commodity withholds tax (4 percent-9 percent) from seller before making […]
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KARACHI: Inequality in tax rates for corporate and non-corporate businesses has discouraging corporatization in the country, Pakistan Stock Exchange (PSX) noted in its proposals for budget 2021/2022. The stock exchange pointed out that corporate business profits are taxed twice: once at company level at 29 percent and on dividend distribution at 15 percent. As compare […]
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ISLAMABAD: Federal Board of Revenue (FBR) has revised the processing parameters and increased refund to export ratio to 15 percent. According to Sales Tax General Order (STGO) No. 05 of 2021, the FBR announced to re-fix the ceiling of parametric refund-to-export ratio from the previous 12 percent to 15 percent of the export value for […]
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KARACHI: The stock market likely to remain positive during next week on expectation of no change in policy rate in the monetary policy statement schedule to be announced on May 28, 2021. Analysts at Arif Habib Limited said that the market likely to remain positive in the upcoming week. With the monetary policy scheduled to […]
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KARACHI: Pakistan Stock Exchange (PSX) has recommended modification in Shariah compliance criteria under Income Tax laws to make it practically possible to meet the requirement. The PSX in its proposals for budget 2021/2022 said that the modification would held the promotion and development of Islamic capital markets by encouraging new listings of companies on PSX […]
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KARACHI: The government should avoid short term tax policies to ensure stable economic environment so investors can plan their investments in the country. Pakistan Stock Exchange (PSX) in its proposals for budget 2021/2022 said that as much as favorable tax treatment, investors need a stable and predictable tax environment. When making a long-term investment decision, […]
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