PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed a series of tax relief measures aimed at easing the tax burden on salaried individuals in the country.
(more…)Author: Shahnawaz Akhter
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ICAP Suggests Replacing WHT Regime for Listed Companies
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed a major shakeup in the tax regime for listed companies. In its recommendations for the 2023-24 budget, ICAP suggests replacing the current withholding tax (WHT) system with an adjustable advance tax regime.
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ICAP Recommends Penalty on Stop-Filers
The Institute of Chartered Accountants of Pakistan (ICAP) has put forward a strong recommendation to impose penalties on individuals and entities known as stop-filers of income tax returns.
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FPCCI Backs Tajir Dost Scheme, Urges Further Simplification
PkRevenue.com – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced its strong support for the Federal Board of Revenue’s (FBR) initiative to bring small traders and shopkeepers into the tax net – the Tajir Dost Scheme (TDS).
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FBR Transfers High Profile Inland Revenue Officers on Budget Eve
PkRevenue.com – The Federal Board of Revenue (FBR) has announced the transfer and posting of several senior officers within the Inland Revenue Service (IRS) from BS-19 to BS-21, effective immediately.
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Pakistan Sees Massive 27% Exports Jump YoY in May 2024
PkRevenue.com – Pakistan has registered a significant 27.08 percent increase in exports on a year-on-year (YoY) basis in May 2024, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. Exports surged to $2.80 billion in May 2024, up from $2.20 billion in the same month of the previous year.
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OGDCL Commences Hydrocarbon Production from Chanda-7 Well
PkRevenue.com — The Oil and Gas Development Company Limited (OGDCL) announced on Monday the commencement of hydrocarbon production from its newly developed Chanda-7 well.
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ICAP Proposes Direct Refund Credit for Salaried Persons
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has recommended that tax authorities facilitate direct refunds to the bank accounts of salaried individuals.
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ICAP Recommends Real-Time Monitoring of Property Transactions
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the tax authorities implement real-time reporting of property transactions.
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ICAP Suggests Reactivation of BTB Directorate
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has recommended that the tax authorities reactivate the Directorate of Broadening of Tax Base (BTB) to enhance the country’s tax revenue.
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