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IHC issues stay order for tax on windfall income

Stay comes after private bank s petition against caretaker government’s move to levy windfall tax on banks revenues

Ejaz ishaq khanIslamabad high courtNational assemblyAnalysts at optimums researchSardar ejaz ishaq khanRevenue tax ordinanceFederal boardOptimums researchFinance billIncome tax ordinance

IHC stays windfall tax on banks

Govt had directed banks to submit 40% windfall tax on forex transactions in national exchequer

Ejaz ishaq khanAnalysts at optimums researchNational assemblyIslamabad high courtSardar ejaz ishaq khanRevenue tax ordinanceFederal boardOptimums researchFinance billIncome tax ordinance

Govt issues rules to tax windfall income by banks over last two years

Pakistan’s caretaker government issued rules requiring banks to pay 40 percent tax on windfall income reaped from foreign exchange transactions during the last two years

Muhammad yaqubJs researchInternational monetary fundAnalysts at optimums researchTax ordinanceFederal boardOptimums researchState bank

Govt notifies 40% tax on windfall income; analysts say move will hurt banking sector

Decision comes as govt aims to broaden its revenue base and punish lenders for currency speculation

Muhammad yaqubJs researchAnalysts at optimums researchInternational monetary fundTax ordinanceFederal boardOptimums researchState bank

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