AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.2 (1.02%)
BR30 31,117 Increased By 516.5 (1.69%)
KSE100 94,155 Increased By 799.5 (0.86%)
KSE30 29,171 Increased By 240.1 (0.83%)

The Islamabad High Court (IHC) on Wednesday disposed off a case regarding tax recovery of Rs 19 billion from Pakistan Telecommunication Corporation Limited (PTCL) and Pak Telecom Mobile Limited (PTML), a parent company of U fone. The single bench of IHC comprising Justice Riaz Ahmed Khan while announcing his judgement of the case dismissed 23 identical petitions of telecommunication companies and directed them to deposit the tax with Federal Board of Revenue (FBR).
Earlier, Sardar Jamal Sukhera, counsel for telecommunication companies has contended that under item 49 of Part-I of fourth schedule of the constitution of the Islamic Republic of Pakistan, sales tax can be levied only in respect of goods by the federal government that can be claimed by FBR. Attorney General Molvi Anwar-ul-Haq and Hafiz Munawar Iqbal a counsel for FBR apprised the court that telecommunication companies are wrongly interpreting the constitution as FBR is collecting Federal Excise Duty from these companies.

Copyright Associated Press of Pakistan, 2011

Comments

Comments are closed.