FBR urged to extend tax credit to investment in infrastructure

KARACHI: Federal Board of Revenue (FBR) has been urged to extend tax credit facility to investment in factory building and manufacturing related infrastructure. Read more »

FBR suggested reduced corporate tax rate for job creation

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce corporate tax rate by one percent for companies creating 50 or more new jobs in a year. Read more »

Ban foreign cigarettes without health warnings: OICCI

KARACHI: The government has been advised to ban import of cigarettes without health warnings in order to discourage smuggling. Read more »

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. Read more »

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. Read more »

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... Read more »

FBR advised to substantially reduce penalties on non-filing, late-filing of tax returns

KARACHI: Federal Board of Revenue (FBR) has been advised to substantially reduce penalties for non-filing or late filing of income tax returns and wealth statements. Read more »

Installing scanners at Pak-China borders suggested to prevent misuse clearance under CPEC

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has suggested to install scanners at Pak-China borders to stop misuse customs clearance of goods transported under China – Pakistan Economic Corridor(CPEC). Read more »

New tax legislation sought for Islamic banking

KARACHI: Federal Board of Revenue (FBR) has been suggested to draft new legislation for taxation of Islamic banking. Read more »

FBR suggested removing impediments in availing exemption certificates for industrial growth

KARACHI: Federal Board of Revenue (FBR) has been suggested to remove restriction of exemption certificates for import of plant and machinery for new projects in order to promote industrial growth in the... Read more »

Demonetizing high denomination currency notes recommended to eliminate avenues for untaxed funds

KARACHI: The foreign investors and multinational companies have suggested the government to demonetize high denomination currency notes to eliminate parking lots for untaxed funds. Read more »

Amnesty schemes culture should be eliminated: OICCI

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the government to eliminate culture of amnesty schemes as such measures encourage tax evaders. Read more »