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 »

Federal budget 2019/2020 to be presented on June 11

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance, Revenue and Economic Affairs on Thursday said the federal budget 2019/2020 will be presented on June 11, 2019 in the National... 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 »

FBR recommended tax exemption to inter-corporate dividend

KARACHI: Federal Board of Revenue (FBR) has been suggested to allow tax exemption to inter-corporate dividend for promoting group formation and consolidation and strengthen the overall corporate structure in Pakistan. Read more »

FBR advised to restore tax credit to sales tax registered persons

KARACHI: Federal Board of Revenue (FBR) has been proposed to restore tax credit to sales tax registered persons for documentation of the economy. Read more »

FBR restructuring proposed to make autonomous body

KARACHI: The government has been proposed to make Federal Board of Revenue (FBR) as an autonomous body on similar line as State Bank of Pakistan. Read more »

FBR suggested reducing income tax rate for banks

KARACHI: Federal Board of Revenue (FBR) has been advised to reduce income tax rates for banking companies in line with general corporate tax rates. Read more »

PTBA urges benefits for taxpayers opting out of PTR

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the tax authorities to give benefits to persons opting out of presumptive tax regime (PTR). Read more »

ICAP suggests reviewing extra tax on electricity, gas consumption by industrial, commercial consumers

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has suggested the tax authorities to review imposition of extra sales tax on electricity and gas as this levy is passed unnecessarily to consumers... Read more »

Additional advance tax proposed on all type of motor vehicles to discourage premium

KARACHI: Federal Board of Revenue (FBR) has been urged to impose Rs100,000 as additional advance tax on all type of motor vehicles, which are sold before registration. Read more »

PTBA recommends retaining alternative corporate tax or minimum tax

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended the tax authorities to retain either Alternative Corporate Tax (ACT) or minimum tax, as existence of both regimes is inappropriate. Read more »