May 27, 2024

Pkrevenue.com

Pakistan Revenue

Month: May 2020

Reverse charge should only be levied on service providers located outside Pakistan
May 26
Budget 2020-2021, Taxation

Reverse charge should only be levied on service providers located outside Pakistan

KARACHI: Sindh Revenue Board (SRB) has been advised that reverse charge should be restricted to such cases where service providers are located outside Pakistan. Overseas Investors Chamber of Commerce and Industry (OICCI) in its budget proposals for 2020/2021 submitted to SRB said that all provincial statues provide that service provided by non-resident service provider is […]

by
Read More
Manufacturers demand domestic supplies against FE should be treated as exports
May 26
Budget 2020-2021, Trade & Industry

Manufacturers demand domestic supplies against FE should be treated as exports

KARACHI: Manufacturers have urged the government to treat goods booked abroad on which foreign exchange (FE) has been transferred should be treated as export. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in its proposals for budget 2020/2021, said that some manufacturers (like Dawlance etc.) are demanding that overseas Pakistanis may be allowed to […]

by
Read More
Federal, provincial tax conflict hampers FDI
May 25
Budget 2020-2021, Taxation

Federal, provincial tax conflict hampers FDI

KARACHI: Foreign investors have said that duplication of taxes due to lack of coordination between federal and provincial tax authorities are hampering foreign direct investment (FDI) into Pakistan. The Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors in Pakistan, said that duplicate taxation is causing hardships to taxpayers and […]

by
Read More
Adjustable advance income tax recommended on sale of agri produce
May 25
Budget 2020-2021, Taxation

Adjustable advance income tax recommended on sale of agri produce

KARACHI: The tax authorities have been recommended to collect adjustable advance income tax on sale of agriculture produce in order to broaden tax base. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for provincial budget 2020/2021 submitted to Sindh government, recommended that adjustable withholding tax should be introduced on sale of agricultural […]

by
Read More
Changes to CNIC condition likely in budget
May 24
Budget 2020-2021, Taxation

Changes to CNIC condition likely in budget

ISLAMABAD: Federal Board of Revenue (FBR) may introduce changes to mandatory CNIC (Computerized National Identity Card) condition in the upcoming budget 2020/2021 in to facilitate registered taxpayers. At present unregistered purchasers, excluding end-consumers, of above Rs50,000 are required to provide a copy of CNIC in order bring the sales into the documented economy. The business […]

by
Read More
Eid ul Fitr Mubarak 2
May 24
National

Eid ul Fitr Mubarak 2

As the holy month of Ramadan draws to a close, PkRevenue.com extends heartfelt Eid-ul-Fitr greetings to its esteemed readers and followers. In the spirit of joyous celebration and communal harmony, the online platform takes this opportunity to convey warm wishes for a blessed and prosperous Eid-ul-Fitr.

by
Read More