Karachi, May 13, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for the immediate reopening of the Chaman Border to facilitate seamless transportation and alleviate the hardships faced by traders and communities on both sides of the border.
(more…)Author: Shahnawaz Akhter
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Salaried Class Bears Excessive Tax Burden in Pakistan: OICCI
Karachi, May 13, 2024 – Startling revelations by foreign investors operating in Pakistan have shed light on an alarming fiscal trend: the salaried class is shouldering a disproportionate tax burden, eclipsing the combined contributions of exporters and retailers.
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ATL Expands to 4.22 Million Amid SIM Blocking Fears
Karachi, May 13, 2024 – The Active Taxpayers List (ATL) has surged to 4.22 million individuals as the looming threat of SIM card blocking for non-compliance compelled previously non-compliant citizens to make tax filings, sources disclosed on Monday.
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OICCI Demands Development of Sales Tax Laws for Distributors
Karachi, May 13, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the development of policy guidelines for sales tax laws on distributors, emphasizing the need for collaboration and coordination among federal and provincial tax regulators.
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Foreign Investors Demand Elimination of Super Tax
Karachi, May 12, 2024 – Foreign investors operating in Pakistan have issued a fervent plea to authorities to eliminate the super tax as part of the budget for the fiscal year 2024-25.
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FBR Asked to Link WHT Collection with Property Tax
The Overseas Investors Chamber of Commerce and Industry (OICCI) has called upon the Federal Board of Revenue (FBR) to adopt a groundbreaking approach by linking the collection of withholding tax (WHT) with property tax revenues gathered by provincial authorities.
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OICCI Presents Novel Idea to Tax Register Retail Sector
Karachi, May 12, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forth an innovative approach to tackle the challenge of tax registration within the highly undocumented retail sector.
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Rupee Expected to Maintain Stability Against Dollar in Near Term
Analysts predict that the Pakistani rupee will likely remain stable against the US dollar in the coming week and continue its trend until the end of the current fiscal year.
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PBC Proposes 24% Tax on Motor Vehicle Purchases by Non-Filers
The Pakistan Business Council (PBC) has put forth a bold proposal for the upcoming budget of 2024-25, recommending a significant increase in advance tax rates on motor vehicle purchases by non-filers of income tax returns.
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Saudi Arabia Signals Investment in Pakistan’s Refinery Sector
Islamabad, May 11, 2024 – Saudi Arabia has signaled its eagerness to invest in Pakistan’s refinery sector, marking a pivotal moment in bilateral economic cooperation.
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