Trends - VAT - Business Recorder

VAT

Temu told to suspend Vietnam operations, state media reports

HANOI: Chinese online retailer Temu has been told to suspend its operations in Vietnam after it failed to meet an...

Published 05 Dec, 2024 11:51am

World

Sri Lanka approves VAT hike to 18% ahead of IMF review

COLOMBO: Sri Lanka’s parliament approved a hike in value-added tax (VAT)to 18% from 15% on Monday ahead of the...

Published 11 Dec, 2023 07:09pm

World

Scrapping food VAT not enough to tackle cost of living crisis

LISBON: As prices soar in one of western Europe’s poorest nations, many Portuguese say the government is failing ...

Published 30 Mar, 2023 06:35am

World

Spain axes VAT on basic foods to ease inflation pain

MADRID: The Spanish government on Tuesday announced a new package of measures worth some 10 billion euros ($10.6...

Published 27 Dec, 2022 08:24pm

Business & Finance

UK’s Liz Truss considers 5pc cut in VAT if she becomes PM

LONDON: British leadership frontrunner Liz Truss is considering cutting value-added tax (VAT) by 5% across the board...

Published 29 Aug, 2022 05:44am

Business & Finance

Indonesia to impose VAT, income tax on crypto assets from May

JAKARTA: Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital...

Published 04 Apr, 2022 05:38am

Business & Finance

Indonesia to impose VAT, income tax on crypto assets from May

JAKARTA: Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital...

Published 02 Apr, 2022 04:14am

Business & Finance

How Russia's war in Ukraine rocked global economy

PARIS: In a month of conflict in Ukraine, global oil prices have soared, foreign companies have exited Russia and...

Updated 23 Mar, 2022 11:26am

Business & Finance

Turkish food tax cut to ease inflation by 1.5pc pts

ISTANBUL: Turkey's new cut to the value added tax (VAT) on basic food items should decrease overall inflation by 1.5...

Published 14 Feb, 2022 02:57pm

World

Erdogan slashes VAT on basic foods as inflation spirals

ISTANBUL: Turkish President Recep Tayyip Erdogan on Saturday slashed sales tax on dairy products, fruit, vegetables...

Published 13 Feb, 2022 05:48am

Opinion

FBR — making tax digital and beyond (II)

The top global trend at the moment is continuous transaction control-CTC aiming to close VAT gaps, increase revenue...

Updated 05 Feb, 2022 06:12am

Technology

El Salvador plans first 'Bitcoin City', backed by bitcoin bonds

MIZATA: El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds,...

Updated 21 Nov, 2021 03:01pm

Business & Finance

German inflation rises to 28-year high of 4.5%

BERLIN: German consumer prices rose at their fastest pace since 1993 in October on the back of higher energy prices,...

Published 28 Oct, 2021 05:39pm

Business & Finance

Indonesia parliament commission, government agree on major tax changes

JAKARTA: The Indonesian parliament's finance commission and the government have reached an agreement on major tax...

Published 30 Sep, 2021 11:32am

Business

FBR estimates nearly $3.5bn VAT gap

ISLAMABAD: The Federal Board of Revenue (FBR) has estimated that the value-added tax (VAT) gap in Pakistan is nearly...

Published 16 Jun, 2021 03:39am

Business & Finance

Botswana central bank sees inflation breaching target range

Due to supply-side factors related to the coronavirus pandemic as well as the upward adjustments in taxes and administered prices we see inflation breaching the 6 percent upper bound before it falls back within the range in the first quarter of 2022.
Effective in April, the government hiked value added tax (VAT), increased the fuel levy and introduced a new tax on sugar-based drinks, which the central bank expects to drive prices higher.

Published 29 Apr, 2021 06:38pm

Markets

Saudi inflation rate eases further in March to 4.9%

Annual inflation was 3.4% in 2020, picking up in the second half of the year after the VAT hike. The first half had seen mild inflation, following a deflationary trend in 2019, when the annual rate was -2.1%.

Published 15 Apr, 2021 12:04pm

Business

Oman to boost VAT exemptions, hike subsidies

DUBAI: Oman plans to widen exemptions to a value-added tax (VAT) it will introduce this month and increase certain...

Published 09 Apr, 2021 04:51am

VAT exemption: FBR approached against discontinuation

ISLAMABAD: The Ministry of Foreign Affairs has approached the Federal Board of Revenue (FBR) against the...

Published 23 Mar, 2021 04:37am

Business & Finance

UK to extend virus support, may raise tax in budget

They added that Sunak must also help the economy -- which has shrunk by around 10 percent owing to the pandemic -- adjust to the "triple challenge" of Brexit, Covid and the green energy transition.

Published 02 Mar, 2021 10:43am

Import and supply: White sugar exempted from 17pc GST, 3pc VAT

ISLAMABAD: The Federal Board of Revenue (FBR) Friday exempted 17 percent sales tax and three percent minimum Value...

Published 20 Feb, 2021 04:52am

World

Nigeria needs to raise VAT to boost revenues post-recession: IMF

"The Nigerian economy is at a critical juncture. Policy adjustment and reforms are urgently needed to navigate this crisis and change the long-running lackluster course," it said.
Nigeria collects the equivalent of 5.7% of gross domestic product in tax and the government mostly relies for revenue on crude sales.

Published 08 Feb, 2021 08:03pm

Business & Finance

Duty-Free Imports Of Electric 2-3 Wheelers Allowed in Pakistan: FBR

FBR announced exemptions from Additional Customs Duty (ACD) on imports of electric 2-3 wheelers till the 30th of June, 2025.

Published 05 Feb, 2021 03:29pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 28	281.26
USD PKR Interbank Buying / Apr 28	281.06
USD to Japanese Yen / Apr 28	142.05
USD to Swiss Franc / Apr 28	0.82
Pound Sterling to USD / Apr 28	1.34
Euro to USD / Apr 28	1.14
UK LIBOR % / Apr 24	4.96

Stock	Volume
S&P 500 / Apr 28	5,528.75
India Sensex / Apr 28	80,218.37
Tokyo Nikkei / Apr 28	35,839.99
Nasdaq / Apr 28	17,366.13
Hang Seng / Apr 28	21,971.96
FTSE 100 / Apr 28	8,417.34
Dow Jones / Apr 28	40,227.59
Germany DAX 30 / Apr 28	22,271.67
France CAC40 / Apr 28	7,573.76

Item	Value
Crude Oil USD/Barrel / Apr 28	62.05
Karachi Cotton PKR/37.32 KG / Apr 28	16,985
Gold 10 Grams PKR / Apr 28	297,582
Gold Spot USD/Ounce / Apr 28	3,347.70
Cotton US¢/pound / Apr 28	67.55
Petrol/Litre / Apr 29	254.63
Diesel/Litre / Apr 29	258.64

Gainers
Losers
Leaders

Stock	Price
Ruby Textile / Apr 28 Ruby Textile Mills Limited(RUBY)	7.98 ▲ 0.78 (10.83%)
ECOPACK Ltd / Apr 28 Ecopack Limited(ECOP)	34.71 ▲ 3.16 (10.02%)
EMCO Industries / Apr 28 Emco Industries Limited(EMCO)	38.36 ▲ 3.49 (10.01%)
Sunrays Textile / Apr 28 Sunrays Textile Mills Limited(SUTM)	172.02 ▲ 15.64 (10%)
S.S.Oil / Apr 28 S.S.Oil Mills Limited(SSOM)	392.76 ▲ 35.71 (10%)
Shakarganj / Apr 28 Shakarganj Limited(SML)	43.58 ▲ 3.96 (9.99%)
PIA Holding Co.B / Apr 28 PIA Holding Company Limited B(PIAHCLB)	3,608.54 ▲ 326.25 (9.94%)
Popular Islamic / Apr 28 Popular Islamic Modaraba(PIM)	13.89 ▲ 1.25 (9.89%)
Supernet Ltd. / Apr 28 Supernet Limited (GEM)(GEMSPNL)	23.79 ▲ 1.96 (8.98%)
MCB Invest. Managmt. / Apr 28 MCB Investment Management Limited(MCBIM)	92.81 ▲ 7.54 (8.84%)

Stock	Price
Lucky Cement / Apr 28 Lucky Cement Limited(LUCK)	358.88 ▼ -1392.57 (-79.51%)
Ghani Chemworld / Apr 28 Ghani Chemworld Limited(GCWL)	7 ▼ -1 (-12.5%)
Dewan Textile / Apr 28 Dewan Textile Mills Limited(DWTM)	6.51 ▼ -0.79 (-10.82%)
Pak Gen.Ins. / Apr 28 The Pakistan General Insurance Co. Ltd.(PKGI)	8.74 ▼ -0.99 (-10.17%)
Matco Foods Ltd / Apr 28 Matco Foods Limited(MFL)	39.84 ▼ -4.43 (-10.01%)
Bunnys Limited / Apr 28 Bunnys Limited(BNL)	30.75 ▼ -3.42 (-10.01%)
Cyan Limited / Apr 28 Cyan Limited(CYAN)	36.20 ▼ -4.02 (-10%)
Atlas Battery / Apr 28 Atlas Battery Limited(ATBA)	292.11 ▼ -32.46 (-10%)
Dawood Lawrencepur / Apr 28 Dawood Lawrencepur Limited(DLL)	216.10 ▼ -24 (-10%)
At-Tahur Ltd. / Apr 28 At-Tahur Limited(PREMA)	78.07 ▼ -8.67 (-10%)

Stock	Volume
B.O.Punjab / Apr 28 The Bank of Punjab(BOP)	23,705,546 ▼ -0.41
Power Cement / Apr 28 Power Cement Limited(POWER)	21,585,733 ▼ -0.99
WorldCall Telecom / Apr 28 Worldcall Telecom Limited(WTL)	18,309,847 ▼ -0.03
Pak Elektron / Apr 28 Pak Elektron Limited(PAEL)	18,055,841 ▼ -2.41
Maple Leaf Cement / Apr 28 Maple Leaf Cement Factory Limited(MLCF)	14,648,408 ▼ -0.99
Sui North Gas / Apr 28 Sui Northern Gas Pipelines Limited(SNGP)	13,187,141 ▼ -4.28
Ghani Chemworld / Apr 28 Ghani Chemworld Limited(GCWL)	12,616,978 ▼ -1
Cnergyico PK / Apr 28 Cnergyico PK Limited(CNERGY)	12,357,232 ▼ -0.28
Sui South Gas / Apr 28 Sui Southern Gas Company Limited(SSGC)	11,366,687 ▼ -2.77
Lucky Cement / Apr 28 Lucky Cement Limited(LUCK)	9,953,480 ▼ -1392.57

Markets →

Budget 2024-25: income tax calculator for FY25

VAT

Most Popular