Trends - income tax - Business Recorder

income tax

Action against tax defaulters

EDITORIAL: Federal Board of Revenue (FBR) has decided to take strict action against tax defaulters and short-filers...

Updated 18 Jan, 2025 06:31am

Markets

Subsidy paid to Cotton Export Corporation liable to income tax

LAHORE: An appellate forum has held that a subsidy paid by the federal government to the Cotton Export Corporation ...

Published 18 Jan, 2025 05:45am

Corporate sector contributes Rs3,061bn as income tax

ISLAMABAD: The corporate sector contributed Rs 3,061 billion as income tax during 2023-24, according to a new...

Updated 09 Jan, 2025 02:10pm

FBR tax collection: Contribution of LTO Karachi highest

ISLAMABAD: The contribution of Large Taxpayer Office (LTO) Karachi in overall tax collection (income tax, sales tax,...

Updated 09 Jan, 2025 03:09pm

Pakistan

‘Ineligible persons’: stock brokers urge Aurangzeb for consultation on Tax Law (Amendment) Act

KARACHI: Pakistan Stock Brokers Association (PSBA) has urged Finance Minister Muhammad Aurangzeb to consult...

Updated 07 Jan, 2025 10:12pm

FBR voices concern over disparities in tax compliance

ISLAMABAD: The Federal Board of Revenue (FBR) has expressed serious concern over significant disparities in tax...

Updated 06 Jan, 2025 09:30am

Business & Finance

Tax experts question new eligibility criteria for property transactions

LAHORE: The tax experts have questioned the new eligibility criteria introduced by the government for individuals ...

Published 05 Jan, 2025 02:45am

Business & Finance

Tax dept suggests CAA to opt for ADR path to claim tax exemption

LAHORE: The Income Tax department has proved that the Civil Aviation Authority (CAA), a state-owned enterprise ...

Published 03 Jan, 2025 07:20am

Tax on foreign property income: PTBA for larger bench to address ‘conflicting rulings’

KARACHI: The Pakistan Tax Bar Association (PTBA) has called for a larger bench to address conflicting rulings on the...

Updated 03 Jan, 2025 08:53am

Coercive interpretation of fiscal laws: IHC slaps heavy penalties on FBR officers

ISLAMABAD: The Islamabad High Court (IHC) in a major decision has set a precedent by imposing significant costs on...

Updated 02 Jan, 2025 08:53am

Income Tax (amendment) Ordinance promulgated

FBR now expecting Rs 70 billion till December 31, 2024 from the banking sector which will help tax machinery reduce its shortfall in collection to some extent

Updated 31 Dec, 2024 04:52pm

Editorials

Move to facilitate overseas Pakistanis

EDITORIAL: In a move purported to be for the benefit of overseas Pakistanis, the FBR has announced the launch of an...

Updated 31 Dec, 2024 06:57am

World

India considers cutting personal income tax to lift consumption

NEW DELHI: India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year...

Published 27 Dec, 2024 06:27am

Pakistan Revenue Automation Limited: Restructuring plan approved by ECC

Revenue Division/FBR briefs the forum that the Pakistan Revenue Automation Limited is a company to support the revenue automation function of the Federal Board of Revenue

Updated 27 Dec, 2024 03:28pm

Business & Finance

Pakistan’s top 5% earners liable to pay Rs1.6trn in taxes, says FBR chief

During press conference alongside finance minister, Langrial says income tax evasion happening at massive scale

Updated 26 Dec, 2024 10:53pm

Editorials

Tax receipts must improve

EDITORIAL: Chairman Federal Board of Revenue (FBR) Rashid Mehmood Langrial while addressing the Lahore Chamber of...

Updated 23 Dec, 2024 08:17am

Opinion

Tax amendment bill

The Finance Minister has introduced a very important and pertinent tax amendment bill in the National Assembly. This...

Published 20 Dec, 2024 02:43am

Taxmen likely to seal unregistered people’s co’s premises

ISLAMABAD: The Federal Board of Revenue (FBR) will empower Inland Revenue officials to seal unregistered people’s...

Updated 19 Dec, 2024 03:03pm

FBR will now share income tax returns data with banks

According to Tax Laws (Amendment) Bill 2024 introduced in NA, exchange of banking and tax information related to high-risk persons has been allowed between banks and FBR

Updated 19 Dec, 2024 11:49am

Business & Finance

What is Tax Laws (Amendment) Bill, 2024 introduced in National Assembly?

Finance Minister Muhammad Aurangzeb introduced the Tax Laws (Amendment) Bill, 2024 in the National Assembly (NA) on...

Published 18 Dec, 2024 09:06pm

Tax rates can be reduced if revenue generated effectively: FBR chief

LAHORE: Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial has agreed with Lahore Chamber of Commerce...

Updated 18 Dec, 2024 03:43pm

1,064,639 business women are income tax return filers

ISLAMABAD: A total of 1,064,639 women engaged in businesses/women entrepreneurs in Pakistan are filers of income tax...

Updated 17 Dec, 2024 09:10am

Opinion

Pakistan’s economic outlook 2025: inflation, growth, & debt

Among macroeconomic indicators, primarily inflation has come down drastically over recent months, whereby consumer...

Updated 13 Dec, 2024 03:41pm

NFC award: govt official says IMF has attached no conditions

ISLAMABAD: The Senate Standing committee on Finance and Revenue, while observing increasing distortions in resources...

Updated 12 Dec, 2024 09:40am

34 banks declared withholding agents

ISLAMABAD: The Federal Board of Revenue (FBR) has declared 34 banks as withholding agents for the purpose of...

Updated 11 Dec, 2024 09:11am

Opinion

A culture of tax evasion

This is apropos a Business Recorder news item titled “Now revenue leakages come under govt focus” carried by the...

Published 10 Dec, 2024 07:01am

Opinion

Poor FBR performance

The monthly Economic Update and Outlook was uploaded on the Finance Division website on 28 November 2024 with the ...

Updated 09 Dec, 2024 08:11am

Editorials

Elite capture

EDITORIAL: In economic terms an elite is defined as external rent seekers comprising of an entity or a group who...

Updated 09 Dec, 2024 08:08am

Now revenue leakages come under govt focus

Finance Minister Muhammad Aurangzeb says government is taking all necessary steps to digitalise revenue structure

Updated 09 Dec, 2024 02:49pm

Editorials

ADR tax: SBP steps in, FBR must step out

EDITORIAL: Due to the imposition of the Advance to Deposits Ratio (ADR) tax by the federal government, banks have...

Updated 02 Dec, 2024 07:18am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 22	278.92
USD PKR Interbank Buying / Jan 22	278.72
USD to Japanese Yen / Jan 22	155.66
USD to Swiss Franc / Jan 22	0.91
Pound Sterling to USD / Jan 22	1.23
Euro to USD / Jan 22	1.04

Stock	Volume
S&P 500 / Jan 21	6,049.24
Nasdaq / Jan 21	19,756.78
Dow Jones / Jan 21	44,025.81
India Sensex / Jan 22	76,197.90
Tokyo Nikkei / Jan 22	39,646.25
Hang Seng / Jan 22	19,778.77
FTSE 100 / Jan 22	8,579.82
Germany DAX 30 / Jan 22	21,258.81

Item	Value
Karachi Cotton PKR/37.32 KG / Jan 21	18,485
Gold 10 Grams PKR / Jan 21	242,798
Crude Oil USD/Barrel / Jan 22	75.52
Gold Spot USD/Ounce / Jan 22	2,751.94
Cotton US¢/pound / Jan 22	67.34
Petrol/Litre / Jan 23	256.13

Gainers
Losers
Leaders

Stock	Price
Apna Microfin. / Jan 22 Apna Microfinance Bank Limited(AMBL)	10.49 ▲ 0.96 (10.07%)
Leather Up Ltd. / Jan 22 Leather Up Limited(LEUL)	27.57 ▲ 2.51 (10.02%)
Jah.Sidd. Co. / Jan 22 Jahangir Siddiqui & Co. Ltd.(JSCL)	24.29 ▲ 2.21 (10.01%)
Pak Elektron (Pref) / Jan 22 Pak Elektron Limited (Preference)(PELPS)	14.94 ▲ 1.36 (10.01%)
Ashfaq Textile / Jan 22 Ashfaq Textile Mills Limited(ASHT)	15.51 ▲ 1.41 (10.00%)
Crescent Cotton / Jan 22 Crescent Cotton Mills Limited(CCM)	54.45 ▲ 4.95 (10.00%)
Fecto Cement / Jan 22 Fecto Cement Limited(FECTC)	116.40 ▲ 10.58 (10.00%)
Fateh Sports / Jan 22 Fateh Sports Wear Limited(FSWL)	86.43 ▲ 7.86 (10.00%)
Pak Engineering / Jan 22 Pakistan Engineering Company Limited(PECO)	738.34 ▲ 67.12 (10.00%)

Stock	Price
First Capital Equities / Jan 22 First Capital Equities Limited(FCEL)	5.30 ▼ -0.70 (-11.67%)
Nagina Cot. / Jan 22 Nagina Cotton Mills Limited(NAGC)	49.95 ▼ -5.55 (-10.00%)
Zahid Jee Textile / Jan 22 Zahidjee Textile Mills Limited(ZAHID)	27.21 ▼ -3.00 (-9.93%)
Gulistan Sp. / Jan 22 Gulistan Spinning Mills Limited(GUSM)	11.58 ▼ -1.26 (-9.81%)
TPL Life Insur. / Jan 22 TPL Life Insurance Limited(TPLL)	51 ▼ -5.50 (-9.73%)
Masood Textile / Jan 22 Masood Textile Mills Limited(MSOT)	49.05 ▼ -5.27 (-9.70%)
Karam Ceramics / Jan 22 Karam Ceramics Limited(KCL)	55.98 ▼ -5.92 (-9.56%)
Mari Energies / Jan 22 Mari Energies Limited(MARI)	598 ▼ -61.53 (-9.33%)
Hala Enterprise / Jan 22 Hala Enterprises Limited(HAEL)	12.10 ▼ -1.21 (-9.09%)

Stock	Volume
Cnergyico PK / Jan 22 Cnergyico PK Limited(CNERGY)	114,034,653 ▲ 0.04
WorldCall Telecom / Jan 22 Worldcall Telecom Limited(WTL)	99,158,485 ▼ -0.07
Fauji Cement / Jan 22 Fauji Cement Company Limited(FCCL)	83,500,175 ▲ 3.03
Bank Makramah / Jan 22 Bank Makramah Limited(BML)	69,476,357 ▲ 0.02
Citi Pharma Ltd / Jan 22 Citi Pharma Ltd.(CPHL)	23,402,152 ▲ 3.23
Lotte Chemical / Jan 22 Lotte Chemical Pakistan Limited(LOTCHEM)	23,042,045 ▼ -0.08
Ghani Chem. Ind. / Jan 22 Ghani Chemical Industries Limited(GCIL)	21,938,589 ▲ 1.04
Power Cement / Jan 22 Power Cement Limited(POWER)	21,682,567 ▲ 0.10
Fauji Foods Ltd / Jan 22 Fauji Foods Limited(FFL)	18,601,390 ▼ -0.41

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Budget 2024-25: income tax calculator for FY25

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