News stories for Muhammad Ali - Business Recorder

Muhammad Ali

Business & Finance

Massive sales tax refund 'fraud' detected

Regional Tax Office (RTO)-II, Karachi has detected a massive sales tax refund "fraud" amounting to around Rs 230 million, purportedly committed through three fake companies against flying invoices in connivance with FBR officials.

Published 22 Jan, 2020 12:00am

Business & Finance

US-Iran tension pushes up ATT to $2.3 billion: DGTT

Afghan Transit Trade (ATT) has increased to $ 2.3 billion from $1 billion, due to tensions between Iran and the United States.

Published 10 Jan, 2020 12:00am

Containers sans international specifications: No transit movement of Afghan exports goods from February 1: DGTT

Pakistan will not allow the transit movement of exports goods from Afghanistan in containers, lacking international specifications from February 1, 2020.

Published 09 Jan, 2020 12:00am

'Anomalies' in 2nd Tax Laws Amendment Ord 2019: KTBA sends letter to FBR

A registered manufacturer cannot make sales worth more than Rs10 million to even Federal Board of Revenue (FBR) as if it does, input tax will be disallowed, following the serious glitches in 2nd Tax Laws Amendment Ordinance, 2019.

Published 07 Jan, 2020 12:00am

Hafeez asks FBR to forcibly enforce POS registration

Abdul Hafeez Sheikh, Special Advisor to the Prime Minister on Finance, has directed the Federal Board of Revenue (FBR) to enforce Point of Sale (POS) registration forcibly in the markets across the country.

Published 03 Jan, 2020 12:00am

10 registered persons involved in sales tax evasion blacklisted

Directorate of Intelligence & Investigation (DI&I)-IR, Karachi has blacklisted 10 registered persons involved in sales tax evasion amounting Rs 1.305 billion through fake and flying invoices.

Published 27 Dec, 2019 12:00am

Queue system at ports: Ministry plans to award contract to Jordanian firm

The federal maritime affairs ministry is now planning to award a contract to Jordanian company for the development and operation of queue management system to monitor inward and outward cargos movements at ports under the World Bank's financial assistance

Published 26 Dec, 2019 12:00am

Drive against unregistered units begins

The Directorate of Intelligence & Investigation, Inland Revenue, Karachi has kicked off massive campaign against persons involved in taxable activities without getting sales tax registration and payment of due taxes.

Published 24 Dec, 2019 12:00am

Sports

Abid, Masood give Pakistan edge over Sri Lanka

The second-highest opening partnership of 278runs between Abid Ali and Shan Masood is turning the table in favour of hosts, taking the lead of 315 runs against Sri Lanka on a third day of second and final test match at National Stadium Karachi (NSK).

Published 22 Dec, 2019 12:00am

Sports

Shaheen Shah takes 5 wickets as Pakistan fight back

The duo Pakistani pacers - Shaheen Shah Afridi and Mohammad Abbas broke out Sri Lankan batting lineup, helping Pakistan to restrain touring side at 271 runs on second day of second and final Test match at National Stadium Karachi (NSK).

Published 21 Dec, 2019 12:00am

Sports

Pakistan recover after SL's shocking bowling spell

Sri Lanka appears dominating on the first day of second and Test match, putting full-stop on Pakistan's first inning at 191 in 59.3 overs, though the home side came strongly in last session, sending three batsmen of touring side to the pavilion with the s

Published 20 Dec, 2019 12:00am

Sports

MCC to tour Pakistan in February

Marylebone Cricket Club (MCC) has confirmed to send a touring squad to Pakistan in February 2020. According to details, captained by current MCC President Kumar Sangakkara, the Club will send a team to Lahore in February next year, playing a number of mat

Published 19 Dec, 2019 12:00am

Online integration with FBR system: 300 tier-I retailers issued notices

Regional Tax Office (RTO)-II, Karachi has issued notices to 300 tier-I retailers for online integration with FBR system before the last date of ST returns filing for the month of December, 2019 to avoid blocking adjustment of input tax under sub-section (

Published 19 Dec, 2019 12:00am

Rs 50 billion money laundering detected

Directorate General Intelligence and Investigation (DGI&I)-IR has detected massive money laundering amounting to over Rs. 50 billion approximately in 24 cases across the country. FIRs have been registered under Anti Money Laundering Act, 2010.

Published 13 Dec, 2019 12:00am

'Historic' tax recovery made

Directorate General Intelligence and Investigation - Customs, Karachi has made a "historic" tax recovery of Rs 221.7 million from Oil & Gas Development Company Ltd (OGDCL).

Published 12 Dec, 2019 12:00am

Pakistan

Appointment of judges: Parliamentary body seeks tax details

The parliamentary committee on appointment of judges has directed Federal Board of Revenue (FBR) to furnish the income tax and returns details of nominees recommended by Judicial Commission of Pakistan (JCP) for their appointments as additional judges in

Published 27 Nov, 2019 12:00am

Sindh, Punjab and KP: FBR unearths massive tax evasion by sugar mills

The Federal Board of Revenue (FBR) has identified massive tax evasion by sugar mills, operating in Sindh, Punjab and KP through under-reporting of stocks and fake sales. Therefore, it has been decided to carry out investigative audit of sugar manufacturer

Updated 12 Nov, 2019 07:38am

FBR constitutes consultative committees on restructuring

Following the strong resistance showed by Inland Revenue Service (IRS) officers, the Federal Board of Revenue (FBR) has constituted consultative committees to address their concerns regarding "Restructuring of FBR".

Published 12 Nov, 2019 12:00am

Customs puts Benami imports on its radar to curtail money laundering

Directorate of Intelligence and Investigation (DI&I), Customs Karachi has put Benami imports on its radar to curtail one of the major sources of money laundering. Talking to Business Recorder, Director Irfan Jawed said that Directorate has started investi

Updated 02 Nov, 2019 08:47am

Karachi and Lahore are poles apart

Karachi and Lahore are poles apart in terms of contribution of registered traders in the national kitty as latter only deposited income tax to Rs 567.65 million as compared to Rs 30.87 billion collected from the traders of former in FY 2018-19.

Published 01 Nov, 2019 12:00am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 21	278.03
USD PKR Interbank Buying / Nov 21	277.78
USD to Japanese Yen / Nov 21	154.92
USD to Swiss Franc / Nov 21	0.88
Pound Sterling to USD / Nov 21	1.26
Euro to USD / Nov 21	1.05

Stock	Volume
S&P 500 / Nov 20	5,917.11
Nasdaq / Nov 20	18,966.14
Dow Jones / Nov 20	43,408.47
India Sensex / Nov 21	77,137.20
Tokyo Nikkei / Nov 21	38,026.17
Hang Seng / Nov 21	19,620.49
FTSE 100 / Nov 21	8,069.57
Germany DAX 30 / Nov 21	18,942.65

Item	Value
Petrol/Litre / Nov 21	248.38
Crude Oil USD/Barrel / Nov 21	69.38
Karachi Cotton PKR/37.32 KG / Nov 21	17,785
Gold 10 Grams PKR / Nov 21	238,340
Gold Spot USD/Ounce / Nov 21	2,662.71
Diesel/Litre / Nov 21	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▼ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▼ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▼ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▲ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▲ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▲ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 21 K-Electric Limited(KEL)	174,389,145 ▲ 0.00
Hascol Petrol / Nov 21 Hascol Petroleum Limited(HASCOL)	63,973,243 ▲ 0.00
Kohinoor Spining / Nov 21 Kohinoor Spinning Mills Limited(KOSM)	62,996,737 ▲ 0.00
Aisha Steel Mill / Nov 21 Aisha Steel Mills Limited(ASL)	48,137,561 ▲ 0.00
Waves Home Appliances / Nov 21 Waves Home Appliances Limited(WAVESAPP)	43,506,391 ▲ 0.00
Lotte Chemical / Nov 21 Lotte Chemical Pakistan Limited(LOTCHEM)	40,852,960 ▲ 0.00
Telecard Limited / Nov 21 Telecard Limited(TELE)	36,937,252 ▲ 0.00
Cnergyico PK / Nov 21 Cnergyico PK Limited(CNERGY)	31,401,025 ▲ 0.00
WorldCall Telecom / Nov 21 Worldcall Telecom Limited(WTL)	31,346,592 ▲ 0.00

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