The Institute of Chartered Accountants of Pakistan (ICAP) has put forth recommendations to ensure that foreign trade conducted through the China Pakistan Economic Corridor (CPEC) remains free from smuggling and illegal activities.
(more…)Author: Faisal Shahnawaz
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FBR receives suggestion to introduce fixed tax regime for small retailers
The Federal Board of Revenue (FBR) in Pakistan has received a proposal from the Institute of Chartered Accountants of Pakistan (ICAP) suggesting the implementation of a fixed tax regime for small retailers.
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ICAP proposes tax refunds for salaried individuals directly to bank accounts
The Institute of Chartered Accountants of Pakistan (ICAP) has put forward recommendations to streamline the tax refund process for salaried individuals to their bank accounts and strengthen whistle blower protection.
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ICAP proposes measures to identify tax evaders and broaden tax base
The Institute of Chartered Accountants of Pakistan (ICAP) has put forward a set of recommendations to the authorities aimed at identifying tax evaders and expanding the tax base.
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Pakistan advised to include pension income in tax regime
An international advisory firm, Adam Smith International, has recommended that Pakistan expand its income tax framework to encompass pension income.
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Potential impact of tax levy on undistributed profits
According to analysts at Arif Habib Limited, the government is considering new taxation measures in the upcoming budget, including the imposition of a tax on undistributed profits (reserves) of corporates.
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Karachi IR intelligence launches crackdown against mega sales tax refund scam
Directorate of Intelligence and Investigation (I&I) Inland Revenue (IR) Karachi of Federal Board of Revenue (FBR) has launched a massive crackdown on individuals involved in a multi-billion mega scam revolving around bogus sales tax refunds.
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Pakistani Rupee likely to stay stable to dollar amid Russian oil arrival
The Pakistani Rupee (PKR) is expected to maintain stability against the US Dollar in the coming week, driven by the anticipated arrival of Russian oil. This development raises hopes of reducing the country’s oil import bill, leading to positive market sentiment.
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Latest prices of Toyota Yaris Aero in Pakistan
Following are the latest prices of Toyota Yaris Aero in Pakistan. The Indus Motor Company (IMC) made an addition to the Toyota Yaris model lineup by introducing the Yaris Aero variant. This new variant boasts a sleek and enhanced exterior design, aimed at elevating the car’s visual appeal.
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Toyota unveils liquid hydrogen-powered Corolla for Super Taikyu Series
Toyota Motor Corporation (Toyota) is set to make history by entering the ENEOS Super Taikyu Series 2023 Round 2 NAPAC Fuji SUPER TEC 24 Hours Race with their hydrogen-powered #32 ORC ROOKIE GR Corolla H2 Concept running on liquid hydrogen.
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