Trends - Finance Bill 2023 - Business Recorder

Finance Bill 2023

Dar explains what actually led to changes in budget

Says for securing an agreement with the IMF, the government had to impose new taxes

Updated 05 Aug, 2023 03:06pm

Working out new rates of immovable properties: On Dar’s directive, FBR to hold talks with realtors today

ISLAMABAD: Finance Minister Ishaq Dar Friday directed the Federal Board of Revenue (FBR) to immediately convene a...

Updated 05 Aug, 2023 03:08pm

Finance bill: Bureaucracy can devise ‘zero tax’ regime

Senate Standing Committee on Finance holds meeting under chairmanship of Senator Saleem Mandviwalla

Updated 21 Jul, 2023 09:48am

Opinion

Retrospective tax on windfall income discourages corporatization—I

A new Section 99D has been introduced in the Income Tax Ordinance 2001 (“ITO”) through the Finance Act 2023...

Updated 07 Jul, 2023 06:10am

Opinion

Super tax and tax on bonus: misinterpretation of basic accounting—I

In the Finance Act 2023 many amendments have been proposed. This article is restricted to two important measures...

Published 05 Jul, 2023 06:00am

Editorials

IMF: We have to pay the price we deserve to pay

EDITORIAL: While specific details of precisely what are the prior conditions that the government has agreed to in ...

Updated 04 Jul, 2023 05:45am

Erstwhile tribal areas: Tax, duty exemption extended by one year

ISLAMABAD: The government has granted one-year extension in exemption from duties and taxes for the erstwhile tribal...

Updated 03 Jul, 2023 08:55am

Shares transactions of listed cos: Procedure of capital gain on disposal of securities to remain applicable

ISLAMABAD: The procedure of capital gain on disposal of securities will remain applicable on transactions of shares...

Updated 29 Jun, 2023 03:25pm

Business & Finance

Amendments enacted by Finance Act, 2023 vis-à-vis those proposed in Finance Bill 2023–II

SALES TAX
INCREASE IN RATE OF FURTHER TAX

Published 29 Jun, 2023 04:19am

‘Tax on Deemed Income basis’ on immovable properties: Exemption only for persons appearing on Active Taxpayers’ List

ISLAMABAD: The exemption from payment of “Tax on Deemed Income basis” on immovable properties would only be...

Updated 28 Jun, 2023 09:00am

Business & Finance

Amendments enacted by Finance Act, 2023 vis-à-vis those proposed in Finance Bill 2023–I

The Federal Government presented Finance Bill, 2023(‘FB’) in the National Assembly on June 9, 2023. After the...

Published 28 Jun, 2023 06:31am

PL: Hike may not be levied in one go

Ministry of Finance officials say concern at this time was creating sufficient fiscal space that would satisfy the IMF

Updated 28 Jun, 2023 01:06pm

Business & Finance

Erstwhile tribal areas: One-year extension in exemption of taxes withdrawn

ISLAMABAD: The Finance Act 2023 has withdrawn one-year extension in exemption from duties and taxes for the ...

Published 28 Jun, 2023 06:31am

Business & Finance

Islamabad Capital Territory: FBR to charge 15pc ST on electric power transmission services

ISLAMABAD: The Federal Board of Revenue (FBR) will charge 15 percent sales tax on Electric Power Transmission...

Published 28 Jun, 2023 06:31am

Markets

FBR’s tax collection hits Rs7tr, says Dar

The Federal Board of Revenue (FBR) has collected Rs7 trillion in tax revenue till June 26, said Finance Minister...

Updated 27 Jun, 2023 05:40pm

Pakistan

Sanjrani signs finance and election bills into law

ISLAMABAD: Acting President Sadiq Sanjrani, on Monday, signed the Finance Bill, 2023 and the Elections (Amendment)...

Published 27 Jun, 2023 06:15am

Business & Finance

Duties and taxes for erstwhile tribal areas: One-year extension in exemption withdrawn

ISLAMABAD: Finance Act 2023 has withdrawn one-year extension in exemption from duties and taxes for the erstwhile...

Published 27 Jun, 2023 06:15am

Business & Finance

Comments on changes in Finance Bill 2023

General These notes provide comments on the changes proposed in the Finance Bill 2023 by the Finance Minister. This...

Published 27 Jun, 2023 06:15am

Business & Finance

Budget 2023-24: ‘high earners’ to pay a higher income tax as govt revises rates

Budget proposals originally maintained income tax rates before govt amended the Finance Bill

Updated 26 Jun, 2023 06:40pm

Advance tax on registration of vehicles above 2000cc hiked

ISLAMABAD: The government has increased the advance income tax on the registration of vehicles above 2000cc under...

Updated 26 Jun, 2023 12:53pm

FBR issues increased income tax slabs for salaried class

ISLAMABAD: The new income tax slabs for the salaried class under the amended Finance Bill 2023 revealed that higher...

Updated 26 Jun, 2023 09:17am

Supplies made to unregistered persons: Rate of ‘Further Sales Tax’ increased to 4pc

ISLAMABAD: In a major move to document unregistered sales tax persons, the Federal Board of Revenue (FBR) has...

Updated 26 Jun, 2023 09:22am

Business & Finance

The Foreign Investment (Promotion and Protection) Act, 2022: Investors and shareholders granted income tax exemption

ISLAMABAD: The government has given full protection to the income tax exemption granted to the investors and...

Updated 26 Jun, 2023 09:13am

Amended finance bill sails through NA: Key steps taken to keep IMF in good humour

Revenue target of Federal Board of Revenue goes up from Rs9.2 trillion to Rs9.415 trillion

Updated 26 Jun, 2023 12:52pm

Business & Finance

New condition imposed on sellers of properties

ISLAMABAD: The government has imposed a major condition on the sellers or transferors of immovable properties to...

Published 26 Jun, 2023 06:38am

Business & Finance

Fruit juice industry rejects 20pc FED

ISLAMABAD: The fruit juices industry has out rightly rejected 20 percent federal excise duty (FED) in amended ...

Published 26 Jun, 2023 06:38am

Pakistan

National Assembly approves IMF-aligned budget FY24

Revised budget imposes additional taxes of Rs215 billion and cuts expenditures by Rs85 billion

Updated 25 Jun, 2023 10:42pm

Finance Bill: NA discusses Senate suggestions

ISLAMABAD: The recommendations made by the Senate on Finance Bill, 2023-24 were presented in the National Assembly...

Updated 22 Jun, 2023 08:52am

Business & Finance

Cigarettes: Rs364bn can be generated by maintaining enhanced FED slabs

Islamabad: The government can generate around Rs 364 billion from the tobacco sector in 2023-24 by maintaining the...

Published 21 Jun, 2023 05:21am

Business & Finance

FPCCI chief speaks about various budget ‘anomalies’

KARACHI: President Federation of Pakistan Chambers of Commerce and Industry (FPPCI) Irfan Iqbal Sheikh has said ...

Published 18 Jun, 2023 06:07am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Petrol/Litre / Dec 21	252.10
Karachi Cotton PKR/37.32 KG / Dec 21	17,585

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

Markets →

Budget 2024-25: income tax calculator for FY25

Finance Bill 2023

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