Pakistan, China sign four CPEC agreements to boost bilateral cooperation

ISLAMABAD: Pakistan and China on Sunday signed four agreements under China Pakistan Economic Corridor (CPEC) in order to further enhance bilateral cooperation. The signing ceremony was held here during the three-day visit of Chinese Vice President Wang Qishan, who arrived earlier in the day along with a high level delegation. Prime Minister Imran Khan and […]

by Faisal Shahnawaz

Ban foreign cigarettes without health warnings: OICCI

May 26

2019-2020, Budget, Trade & Industry

Ban foreign cigarettes without health warnings: OICCI

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended to the government to impose a ban on the import of cigarettes lacking health warnings, as part of a strategy to deter the rampant smuggling of tobacco products.

by Faisal Shahnawaz

PTBA suggests allowing further tax adjustment to suppliers

May 26

2019-2020, Budget, Taxation

PTBA suggests allowing further tax adjustment to suppliers

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended the Federal Board of Revenue (FBR) to allow adjustment of further tax against input tax. The PTBA in its proposals for budget 2019/2020, said that presently further tax has been charged by the registered person on the supplies made to the person who are required to be […]

by Faisal Shahnawaz

FTO orders recovery from IR officers in unlawful bank account attachment

May 26

Taxation

FTO orders recovery from IR officers in unlawful bank account attachment

ISLAMABAD: Federal Tax Ombudsman (FTO) has ordered recovery from officers of Inland Revenue Officers in a case of unlawful recovery through bank attachment of a taxpayer. The FTO ordered dated May 21, 2019 in a complaint filed by a taxpayer against unlawful recovery of tax demand from the bank account of the complainant outstanding against […]

by Faisal Shahnawaz

Hafeez reviews proposals for budget 2019/2020

May 26

2019-2020, Budget

Hafeez reviews proposals for budget 2019/2020

ISLAMABAD: Dr. Abdul Hafeez Shaikh chaired a meeting on Sunday to review the proposals for budget 2019/2020.Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR), gave a detailed presentation about the budget proposals for the upcoming budget.He proposed various steps to expand the tax base as well as increase revenue of the country.The adviser directed FBR […]

by Faisal Shahnawaz

Reduction in corporate tax for E&P companies recommended to attract foreign investment

May 26

2019-2020, Budget, Taxation, Trade & Industry

Reduction in corporate tax for E&P companies recommended to attract foreign investment

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce corporate tax rate for exploration and production companies in order attract foreign investment in this sector and generate more revenue for the country. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 said that the applicable tax […]

by Faisal Shahnawaz