Pakistan Revenue
You can go through stories related to budget 2019-2020. The stories are about changes in taxation, customs, sales tax and federal excise.
ISLAMABAD: The government has planned to a massive cut tax in exemptions and concessions in the budget 2019/2020, which is scheduled to be announced on June 11, 2019. Sources told PkRevenue.com that the government had committed with the World Bank and other international agencies to withdraw large size exemptions given to various sectors and individuals […]
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KARACHI: Textile value added sector has announced to stage protest on Monday June 10, 2019 against proposed plan to abolish sales tax zero-rating for export sector. Muhammad Jawed Bilwani, Chief Coordinator for Five Zero Rated Export Sectors in a statement on Saturday said that the exporters and manufacturers would stage peaceful protest outside the Karachi […]
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ISLAMABAD: The government may restore threshold of taxable salary income to June 30, 2018 level in the budget 2019/2020 after facing Rs50 billion revenue loss in the current fiscal year and considering difficult economic situation in the year ahead. Sources said reverting tax rates for salary persons to the June 30, 2018 position was under […]
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ISLAMABAD: President of Pakistan has summoned the budget session of the National Assembly (NA) on June 10, 2019. A letter of the national assembly secretariat on Friday said that the President has been pleased to summon the 11th session (Budget 2019/2020) of the National Assembly to meet in the Parliament House, Islamabad on Monday, June […]
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KARACHI: Siraj Kassem Teli, director of Pakistan Beverage Limited (Pepso Co. franchisee), while using platform of Karachi Chamber of Commerce and Industry (KCCI) raised voice against government’s proposed plan for implementing excise duty on beverage industry. Teli, who is also chairman of Businessmen Group (BMG) and former President of KCCI, warned the government against hike […]
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KARACHI: Pakistan Tax Bar Association (PTBA) has advised the Federal Board of Revenue (FBR) to revisit law related to arrest and prosecution under Sales Tax Act, 1990. In its tax proposals for budget 2019/2020, the apex tax bar said that under the existing law, every director and officer of the Company is liable to be […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to reduce withholding tax rate to 0.2 percent for distributors of Fast Moving Consumer Goods (FMCG) companies as higher rate is increasing the cost of doing business. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020, said that the […]
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KARACHI: Federal Board of Revenue (FBR) may recommend amending application of super tax in the forthcoming budget 2019/2020 to generate around Rs2 billion. FBR sources said that the tax authorities had recommended amendments to Section 4B of Income Tax Ordinance, 2001 through Finance Bill, 2019. The sources said that it had been recommended to apply […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to allow multiple businesses on one sales tax registration for better documentation of the economy. In its tax proposals for budget 2019/2020, the Pakistan Tax Bar Association (PTBA) said that after amendment in Sales Tax Act, 1990, through Finance Act, 2008, FBR has directed to cancel […]
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ISLAMABAD: Prime Minister Imran Khan on Tuesday reviews preparations for budget 2019/2020. The prime minister chaired the preparatory meeting for budget 2019-20 wherein he was briefed in detail about the revenue and spendings. The federal budget scheduled to be announced on June 11, 2019 for fiscal year 2019/2020. The meeting was attended by Finance Advisor […]
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