Pakistan Revenue
KARACHI: The Sindh Revenue Board (SRB) has posted 52 percent growth in revenue collection during May 2021 as compared with same month of the last year, a statement said on Tuesday. The SRB collected Rs10.26 billion during May 2021 as compared with Rs6.734 billion in the corresponding month of the last year. The provincial revenue […]
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KARACHI: The government is seriously considering to bring down federal excise duty (FED) from existing 13 percent to 11.5 percent in the upcoming budget 2021/2022. According to sources the tax authorities had received instructions to finalize proposals regarding beverage industry for reducing the rate of FED from 13 percent to 11.5 percent. The FED rate […]
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KARACHI: The Sindh Revenue Board (SRB) on Monday launched a scheme to exempt whole of the amount of penalty and default surcharge on payment of principal amount by given date. Sindh Revenue Board (SRB) in this regard issued notification to exempt the whole of the amount of penalty and such of the amount of default […]
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KARACHI: Privatizing an integrating and monopoly provider of an essential service (i.e. electricity) to over 20 million people was a policy mistake, said a letter written by an advisor to the Prime Minister on Power and Petroleum. Tabish Gauhar, Special Advisor to the PM on Power and Petroleum, in his response to a letter written […]
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KARACHI: The stock market gained 770 points on Monday on strong economic indicators including remittances and tax collection. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,896 points as against last Friday’s closing of 47,126 points, showing an increase of 770 points. Analysts at Arif Habib Limtied said that the market crossed […]
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KARACHI: The government is considering to reduce the federal excise duty on cigarettes in order to discourage duty evasion and stop smuggling. Sources said that proposals had been invited from stakeholders to rationalize the duty structure on tobacco industry. The sources said that the authorities were considering to reduce the FED rate by 10 percent […]
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KARACHI: The Pak Rupee gained three paisas against the dollar on Monday despite higher demand of the foreign currency for import and corporate payments. The rupee ended Rs154.40 to the dollar from last Friday’s closing of Rs154.43 in the interbank foreign exchange market. Currency experts said that due to first trading day the demand for […]
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KARACHI: A former chairman of Federal Board of Revenue (FBR) has recommended the government to stop the circulation of Rs5000 banknote and phase out in circulation the banknote within one year. Syed Shabbar Zaidi, former FBR chairman, submitted his proposals for budget 2021/2022 to Prime Minister Imran Khan. “There has to be gradual evaporation of […]
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KARACHI: Tax practitioners have demanded the Federal Board of Revenue (FBR) to allow capital gain tax (CGT) exemption to private companies in order to encourage corporatization in the country.
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KARACHI: The Federal Board of Revenue (FBR) has been urged to rationalize rental income from property and individuals or Association of Persons (AOPs) should be taxes as full and final discharge of tax liability. Karachi Tax Bar Association (KTBA) in its proposals for budget 2021/2022 said that the rental income from property, AOP or individual […]
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