Only NRPs can invest in NPCs: FBR

MG News | November 30, 2020 at 10:50 AM GMT+05:00

0:00

November 30, 2020 (MLN): Pakistani Residents are not permitted to invest in Naya Pakistan Certificates (NPC), said Federal Board of Revenue (FBR) in a clarification issued on Friday.

According to a statement issued by the FBR, only non-resident individuals can purchase Naya Pakistan Certificate who maintain bank account abroad or foreign currency account maintained in Pakistan. FBR also clarified that such individuals are not required to file returns of income.

In its statement, FBR further stated that Naya Pakistan Certificate, a new instrument launched by the Government/ State Bank of Pakistan, qualifies as debt instrument in terms of Clause (5AA) of Part-II of the Second Schedule of the Income Tax Ordinance, 2001. Therefore, profit on debt on the Naya Pakistan Certificate is subject to tax @ 10% which is final tax.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	153,866.17 113.04M	-0.36% -555.27
ALLSHR	92,322.41 289.91M	-0.18% -165.37
KSE30	47,054.02 67.50M	-0.57% -268.71
KMI30	220,139.18 52.42M	-0.81% -1787.82
KMIALLSHR	59,630.44 114.87M	-0.43% -258.98
BKTi	44,089.65 23.49M	-0.09% -38.05
OGTi	31,668.31 6.28M	-0.15% -47.11

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,495.00	0.00 0.00	170.00 0.24%
BRENT CRUDE	103.89	103.95 97.60	3.43 3.41%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-12.90 -11.49%
ROTTERDAM COAL MONTHLY	122.70	123.80 122.70	-1.10 -0.89%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	99.31	0.00 0.00	0.60 0.61%
SUGAR #11 WORLD	14.41	14.53 14.30	0.03 0.21%