April 26, 2024

Pkrevenue.com

Pakistan Revenue

Month: June 2019

Proposals for budget 2019/2020 finalized; salary persons may get increase; rise in additional customs duty likely
Jun 9
Finance

Proposals for budget 2019/2020 finalized; salary persons may get increase; rise in additional customs duty likely

ISLAMABAD: The ministry of finance has finalized proposals for budget 2019/2020 and will get approval from the Cabinet before presenting in the Parliament on June 11, 2019. Prime Minister Imran Khan will chair the cabinet meeting on Monday in which the budget with record deficit will be approved. The sources said that the cabinet would […]

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Profit on banking deposits: High tax rate planned for non-filers in budget 2019/2020
Jun 9
2019-2020, Budget, Exclusive, Taxation

Profit on banking deposits: High tax rate planned for non-filers in budget 2019/2020

ISLAMABAD: A sharp increase in withholding tax rate (may be up to 30 percent) on profit on banking deposits has been planned for non-filers in order to make it almost impossible to stay remain unregistered, sources said. Sources told PkRevenue.com that Federal Board of Revenue (FBR) a large sum of banking system deposits were remained […]

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Massive cut in tax exemptions, concessions likely in budget 2019/2020
Jun 9
2019-2020, Budget, Exclusive, Taxation

Massive cut in tax exemptions, concessions likely in budget 2019/2020

ISLAMABAD: The government has planned to a massive cut tax in exemptions and concessions in the budget 2019/2020, which is scheduled to be announced on June 11, 2019. Sources told PkRevenue.com that the government had committed with the World Bank and other international agencies to withdraw large size exemptions given to various sectors and individuals […]

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Protest on June 10 against plan to abolish zero-rate sales tax
Jun 9
2019-2020, Budget, Trade & Industry

Protest on June 10 against plan to abolish zero-rate sales tax

KARACHI: Textile value added sector has announced to stage protest on Monday June 10, 2019 against proposed plan to abolish sales tax zero-rating for export sector. Muhammad Jawed Bilwani, Chief Coordinator for Five Zero Rated Export Sectors in a statement on Saturday said that the exporters and manufacturers would stage peaceful protest outside the Karachi […]

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FBR to target large taxpayers for detailed field audit
Jun 8
Taxation

FBR to target large taxpayers for detailed field audit

ISLAMABAD: Federal Board of Revenue (FBR) to conduct tax audits of large taxpayers, who are selected through an automated risk-based tool. According to World Bank’s updated report on ‘Pakistan Revenue Mobilization’ said that according disbursement linked Indicators (DLI) the FBR required to conduct tax audits on cases selected through an automated risk-based tool, informed by […]

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President summons NA budget session on June 10
Jun 8
2019-2020, Budget

President summons NA budget session on June 10

ISLAMABAD: President of Pakistan has summoned the budget session of the National Assembly (NA) on June 10, 2019. A letter of the national assembly secretariat on Friday said that the President has been pleased to summon the 11th session (Budget 2019/2020) of the National Assembly to meet in the Parliament House, Islamabad on Monday, June […]

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Any duty increase on beverages to result in industry closure: Siraj Teli
Jun 8
2019-2020, Budget, Trade & Industry

Any duty increase on beverages to result in industry closure: Siraj Teli

KARACHI: Siraj Kassem Teli, director of Pakistan Beverage Limited (Pepso Co. franchisee), while using platform of Karachi Chamber of Commerce and Industry (KCCI) raised voice against government’s proposed plan for implementing excise duty on beverage industry. Teli, who is also chairman of Businessmen Group (BMG) and former President of KCCI, warned the government against hike […]

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