Trends - Finance Act 2022 - Business Recorder

Finance Act 2022

Industry and investors: Dispute resolution tribunal to be set up

ISLAMABAD: The government has decided to establish a specialised tribunal to resolve disputes expeditiously between...

Updated 13 Dec, 2023 09:22am

Recovery of CVT under Finance Act 2022: Taxmen’s orders are without jurisdiction: former FBR chief

ISLAMABAD: All the orders passed by the taxation officers/Inland Revenue officers for the recovery of Capital Value...

Updated 24 Oct, 2023 09:38am

Opinion

Super tax for tax year 2023: hiked rate cannot be applied with retrospective effect

In our Technical Release 1/2023 relating to the Finance Act, 2023, which was issued on June 9, 2023, our view was...

Updated 26 Sep, 2023 07:32am

Editorials

Taxes on real estate

EDITORIAL: Representatives of the influential real estate sector informed the National Assembly Standing Committee ...

Published 08 Aug, 2023 06:37am

Section 4C of Income Tax Ord will only have prospective effect: IHC

ISLAMABAD: The Islamabad High Court (IHC) held that Section 4C of the Income Tax Ordinance, 2001 as read down, will...

Updated 21 Jul, 2023 09:30am

Opinion

Super tax and tax on bonus: misinterpretation of basic accounting–II

Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super...

Updated 06 Jul, 2023 06:24am

Wealthy persons: FBR reluctant to give info about tax payments

ISLAMABAD: The Federal Board of Revenue (FBR) is reluctant to disclose vital information regarding tax payments made...

Updated 20 Mar, 2023 09:00am

Business & Finance

Experts for imposition of tax on Toshakhana gifts on deemed income basis

ISLAMABAD: Gifts including jewelry/gold received/purchased by politicians from Toshakhana should be charged to ...

Published 17 Mar, 2023 06:16am

Opinion

Disclosure of beneficial ownership by companies

General: These notes represent our views and comments on the draft rules proposed to be inserted in the Income Tax...

Updated 02 Mar, 2023 07:13am

LHC has held that Section 8(2) (b) of Finance Act is valid

ISLAMABAD: The Lahore High Court (LHC) held that Section 8(2) (b) of the Finance Act, 2022, is valid, ...

Updated 25 Jan, 2023 08:53am

Business & Finance

FBR misses Dec target: Rs225bn revenue shortfall

ISLAMABAD: The Federal Board of Revenue (FBR) has suffered a massive revenue shortfall of Rs 225 billion during...

Updated 01 Jan, 2023 10:07am

Business & Finance

Fleecing end-consumers: FTO issues second order against MTL

ISLAMABAD: Federal Tax Ombudsman (FTO) has unearthed that Millat Tractors Limited (MTL) has not passed on the relief...

Published 21 Dec, 2022 06:46am

Failure to deposit CVT on foreign assets: Taxpayers/resident individuals liable to pay 12pc per default surcharge

ISLAMABAD: The taxpayers/resident individuals who failed to deposit Capital Value Tax (CVT) on their foreign assets...

Updated 20 Dec, 2022 09:37am

FBR exempts Reko Diq Mining Company from CVT

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted all assets of Reko Diq Mining Company (Private) Limited...

Updated 13 Dec, 2022 09:39am

Business & Finance

Pharma supplies: KTBA urges FBR to revisit clarification about ‘further tax’

KARACHI: Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to revisit its earlier...

Updated 09 Dec, 2022 09:25am

Rs38bn additional taxation measures: Tax Laws (Amend) Ord may be extended for another 120 days

ISLAMABAD: The government may extend the date of the Tax Laws (Second Amendment) Ordinance 2022, which was...

Updated 07 Dec, 2022 09:51am

Business & Finance

FBR BoD meeting postponed: Approval of TY19 draft audit policy deferred

ISLAMABAD: The Federal Board of Revenue (FBR) has not approved the draft audit policy for the Tax Year 2019 due to...

Published 23 Nov, 2022 06:41am

Business & Finance

Audit exemption: FBR to notify delegation of powers to IR commissioners

ISLAMABAD: The Federal Board of Revenue (FBR) will issue a notification for the delegation of powers to the...

Published 22 Nov, 2022 03:23am

Opinion

Putting the record straight: a rejoinder

In response to our article [FBR: dismal income tax collection, Business Recorder, November 11, 2022], the Federal...

Updated 18 Nov, 2022 10:29am

Business & Finance

Non-filers to pay increased rates of WHT

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to strictly monitor budgetary measures introduced under ...

Updated 13 Nov, 2022 06:05pm

Business & Finance

Persons not appearing on ATL: Commissioners told to enforce collection of higher rates of WHT by banks

ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Asim Ahmad Friday directed Chief Commissioners Inland Revenue...

Updated 05 Nov, 2022 11:31am

Business & Finance

Capacity charge/purchase price: PMLTC seeks exemption from sales tax

ISLAMABAD: Pak-Matiari-Lahore Transmission Company Limited (PMLTC) has sought exemption from chargeability of sales...

Published 01 Nov, 2022 05:55am

Assets declared under two statutes not subject to CVT: expert

ISLAMABAD: Former chairman of the Federal Board of Revenue (FBR), Shabbar Zaidi Friday said that assets declared...

Updated 29 Oct, 2022 09:46am

Business & Finance

Soneri Bank earns Rs1,295m PAT for nine months ended Sept 2022

KARACHI: The Board of Directors of Soneri Bank Limited, in their 194th meeting held in Karachi on Thursday, approved...

Published 28 Oct, 2022 05:58am

Business & Finance

ABL’s 9-month PBT grows 50pc to 33bn YoY

LAHORE: Allied Bank Limited is guided by its vision ‘to become a dynamic and efficient bank providing integrated...

Published 22 Oct, 2022 06:34am

Purchase of immovable properties: Advance tax exemption for expatriates sought

ISLAMABAD: The overseas Pakistanis including non-resident persons should be exempted from advance tax payable under...

Updated 03 Oct, 2022 09:37am

Beverage industry: FTO endorses govt’s proposal for Rs60bn additional taxes

Business & Finance

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 9	278.20
USD PKR Interbank Buying / May 9	278
USD to Japanese Yen / May 9	155.52
USD to Swiss Franc / May 9	0.91
Pound Sterling to USD / May 9	1.25
Euro to USD / May 9	1.08

Stock	Volume
S&P 500 / May 9	5214.08
India Sensex / May 9	72404.17
Tokyo Nikkei / May 9	38486.69
Nasdaq / May 9	16346.27
Hang Seng / May 9	18537.81
FTSE 100 / May 9	8381.35
Dow Jones / May 9	39387.76
Germany DAX 30 / May 9	18686.60

Item	Value
Crude Oil USD/Barrel / May 9	79.64
Karachi Cotton PKR/37.32 KG / May 9	19935
Gold 10 Grams PKR / May 9	205075
Gold Spot USD/Ounce / May 9	2347.74
Cotton US¢/pound / May 9	78.60
Petrol/Litre / May 10	288.49

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 10 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 10 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 10 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 10 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 10 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 10 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 10 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 10 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 10 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 10 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 10 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 10 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 10 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 10 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 10 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 10 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 10 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 10 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 10 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 10 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 10 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 10 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 10 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 10 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 10 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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Finance Act 2022

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