Pakistan Revenue
KARACHI: Foreign investors operating in Pakistan have demanded to clear all pending sales tax refunds in next six months. Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors, in its proposals for budget 2021/2022 demanded that all pending tax refund be cleared within next six months in an orderly/ prearranged […]
Continue Reading
ISLAMABAD: The collection of withholding tax on registration of new cars has declined by around 39 percent in tax year 2020 due coronavirus pandemic that has lowered the sales of locally assembled motor vehicles. According to details released by Federal Board of Revenue (FBR) the collection of withholding tax fell to Rs5.88 billion in tax […]
Continue Reading
ISLAMABAD: The payment of customs duty rebate to textile sector increased by over 100 percent during tax year 2020, which shows the commitment of Federal Board of Revenue (FBR) to facilitate the most import sector for resolving liquidity issues.
Continue Reading
ISLAMABAD: Model Customs Collectoarte (MCC) Quetta has announced auction of over 300 motor vehicles scheduled on April 12, 2021. The collectorate issued the following list of motor vehicles to be presented for the auction: S.No. Description Parked At 1 Toyota Mark X, Chassis No. GRX120-0037293, Engine Type: 4GR-FSE, Model 2005, 2500-CC, Colour White Sheela Bagh […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has been urged to exempt listed companies from electronic surveillance of business and records. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2021/2022 said that through SRO 888 of 2020 dated September 21, 2020, a new chapter was introduced in Sales Tax Rules, 2006 […]
Continue Reading
ISLAMABAD: The administrator general Zakat on Saturday issued the ‘Nisab of Zakat’ for the Zakat Year 1441-42 A.H at Rs.80,933.00/- (Rupees: eighty thousand nine hundred thirty-three only). No deduction of Zakat at source shall be mentioned in column 2 of Serial No.1 of the first schedule of Zakat and Ushr Ordinance, 1980 is less than […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has been urged to allow commercial import of used and reconditioned cars of models up to five years old to end monopoly of local car assemblers.
Continue Reading
KARACHI: Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) should devise a framework to ensure all customers of financial institutions whose account show turnover above Rs2 million have filed tax returns and wealth statement. “This could be done by the financial institutions simply notifying names/CNIC numbers of such customers to FBR without […]
Continue Reading
KARACHI: Positive sentiments are likely to prevail in the stock market during the next week due to result season is commencing and investors hope healthy earnings. Analysts at Arif Habib Limited said that market to remain bullish in the coming week. With the result season commencing from next week, we believe cyclical sectors / scrips […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has been urged to revamp withholding tax regime and bring down the existing 50 different tax rates to maximum five rates. Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors operating in Pakistan and multinational companies, in its proposals for budget 2021/2022 suggested the […]
Continue Reading