Saudi Arabia’s state-owned oil giant, Aramco, announced on Sunday its decision to increase dividends for the past year, showcasing resilience in the face of a net profit dip from $161.1 billion in 2022 to $121.3 billion in 2023, primarily attributed to lower oil prices.
Samsung Electronics has unveiled its Shareholder Return Program for the period 2024-2026, following a thorough review by the Board of Directors.
Karachi, December 28, 2023 – In the first five months (July – November) of fiscal year 2023-24, foreign investors have withdrawn $532 million from Pakistan under the category of profit and dividends, according to data released by the State Bank of Pakistan (SBP).
A tax has been imposed on persons receiving dividends in Pakistan. The tax has been levied under Section 5 of the Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2022 after incorporating changes made through Finance Act, 2022. The following is text […]
ISLAMABAD: Federal Board of Revenue (FBR) has updated rate of advance tax on dividends for tax year 2021 (July 01, 2020 to June 30, 2021). The FBR issued Income Tax Ordinance, 2001 (updated up to June 30, 2020) after incorporating amendment brought through Finance Act, 2020. The FBR updated the rate of tax to be […]
ISLAMABAD: Federal Board of Revenue (FBR) has updated income tax rate on dividend received from a company during tax year 2021 (July 01, 2020 – June 30, 2021). The FBR issued Income Tax Ordinance, 2001 (updated up to June 30, 2020) incorporating amendments brought through Finance Act, 2020. The FBR updated following rate of dividend […]
KARACHI: The government has allowed 100 percent exemption on inter-corporate dividend to companies entitled to group relief. Analysts at Topline Securities on Tuesday said that as per the Tax Laws (Second Amendment) Ordinance 2019 issued on Dec 28th, the government has allowed 100% tax exemption on inter-corporate dividends, to companies entitled to group relief. To […]
KARACHI: Federal Board of Revenue (FBR) has been suggested to allow tax exemption to inter-corporate dividend for promoting group formation and consolidation and strengthen the overall corporate structure in Pakistan. Pakistan Tax Bar Association (PTBA) – the umbrella of tax bars in the country – in its tax proposals for budget 2019/2020, said that through […]
KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for Tax Year 2019 incorporating amendment made to Income Tax Ordinance, 2001 through Finance Supplementary (Second Amendment) Act, 2001. Following are the withholding tax rates for dividend income and return on investment in Sukuk under Section 150 and Section 150 A updated up to […]
Colgate-Palmolive (Pakistan) Limited has made a significant announcement by declaring its intention to deposit the amount of unclaimed shares and unpaid dividends into the national treasury.