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Category: Money & Banking

Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.

  • Tax expenditures against transfer of participatory reserve

    Tax expenditures against transfer of participatory reserve

    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 a deduction for a tax year for any amount transferred by the company in the year to a participatory reserve created under section 66 of the Companies Act, 2017 (XIX of 2017) in accordance with an agreement relating to participatory redeemable capital entered into between the company and a banking company as defined in the Financial Institutions(Recovery of Finances) Ordinance,2001 (XLVI of 2001).

    (2) The deduction allowed under subsection (1) for a tax year shall be limited to five per cent of the value of the company’s participatory redeemable capital.

    (3) No deduction shall be allowed under subsection (1) if the amount of the tax exempted accumulation in the participatory reserve exceeds ten per cent of the amount of the participatory redeemable capital.

    (4) Where any amount accumulated in the participatory reserve of a company has been allowed as a deduction under this section is applied by the company towards any purpose other than payment of share of profit on the participatory redeemable capital or towards any purpose not allowable for deduction or exemption under this Ordinance the amount so applied shall be included in the income from business of the company in the tax year in which it is so applied.

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

  • Pak Rupee to Saudi Riyal on August 1, 2021

    Pak Rupee to Saudi Riyal on August 1, 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 1, 2021:

    Buying: Rs 43.00 to the Saudi Riyal

    Selling: Rs 43.50 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.

  • Pak Rupee to UAE Dirham on August 1, 2021

    Pak Rupee to UAE Dirham on August 1, 2021

    The buying and selling rates of the UAE Dirham (AED) against the Pakistani Rupee (PKR) in the open market were recorded as follows:

    (more…)
  • Pak Rupee to Euro on August 1, 2021

    Pak Rupee to Euro on August 1, 2021

    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 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.

  • Pak Rupee to UK Pound on August 1, 2021

    Pak Rupee to UK Pound on August 1, 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 1, 2021:

    Buying: Rs 222 to the UK Pound Sterling

    Selling: Rs 225 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.

  • Pak Rupee to US Dollar on August 1, 2021

    Pak Rupee to US Dollar on August 1, 2021

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 1, 2021:

    Buying: Rs 161.30 to the Dollar

    Selling: Rs 162.30 to the Dollar

    We update rates hourly so we can offer you the best USD to PKR.

    The US Dollar /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.

  • Pak Rupee to Saudi Riyal on July 31, 2021

    Pak Rupee to Saudi Riyal on July 31, 2021

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on July 31, 2021:

    Buying: Rs 43.00 to the Saudi Riyal

    Selling: Rs 43.50 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.

  • Pak Rupee to UAE Dirham on July 31, 2021

    Pak Rupee to UAE Dirham on July 31, 2021

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on July 31, 2021:

    Buying: Rs 43.00 to the UAE Dirham

    Selling: Rs 43.50 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.

  • Pak Rupee to Euro on July 31, 2021

    Pak Rupee to Euro on July 31, 2021

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on July 31, 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 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.

  • Pak Rupee to UK Pound on July 31, 2021

    Pak Rupee to UK Pound on July 31, 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 July 31, 2021:

    Buying: Rs 222 to the UK Pound Sterling

    Selling: Rs 225 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.