7,210
June 1, 2009The CGT issue seems to need further clarification ( see below ) as its appears to be buggering the market sentiment and the market takes a dump every time there is any mention of taxation in any news article.
News : The exemption of capital gains tax on stock exchanges would continue up to June 30, 2010, as per the provisions of the Income Tax Ordinance 2001. FBR officials told Business Recorder on Monday that the Federal Board of Revenue (FBR) would not touch this exemption in the coming budget under clause-110 of Part-I of the Second Schedule of the Income Tax Ordinance 2001…..Aaj News
The Competition Commission of Pakistan (CCP) on Monday ordered the Karachi Stock Exchange (KSE) to initiate a unified trading platform with Lahore and Islamabad bourses.“Refusal on the part of KSE cannot continue,” read the CCP order in KSE’s violation of Section 3 of the Competition Ordinance 2007…This shall eliminate the present distortion of competition, and ensure availability of and access to the best price of commonly listed securities to all investors in order to restore competition in the market.
In the event of non-compliance, KSE will be liable to pay a penalty of Rs50 million at the end of the six-month grace period and thereafter an additional penalty of Rs250,000 per day if non-compliance continues… The News
Market Low : 7,194.23 High : 7,328.46
Market : 7,210.34 — 66.27 points down
