April 19, 2024

Pkrevenue.com

Pakistan Revenue

Category: 2019-2020

ICAP recommends harmonization of federal, provincial tax laws
May 9
2019-2020, Taxation

ICAP recommends harmonization of federal, provincial tax laws

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has recommended harmonization of federal and provincial tax laws to facilitate the taxpayers. In its budget proposals for fiscal year 2019/2020 the ICAP suggested following measures for harmonization of federal and provincial taxes: Integration of Taxation Authorities for One-Window Solution The ICAP believes, there should be a […]

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Chartered Accountants declare documenting agriculture income must for tax reforms
May 7
2019-2020, Budget, Taxation

Chartered Accountants declare documenting agriculture income must for tax reforms

KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) has said that documentation of agriculture income is must for bringing tax reforms in the country. In its budget proposals for year 2019/2020 the ICAP said that there was a serious need of brining taxation of agriculture income under a more transparent and documented manner. “Capacity […]

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KTBA discusses tax proposals at pre-budget seminar
May 7
2019-2020, Budget, Taxation

KTBA discusses tax proposals at pre-budget seminar

KARACHI: Karachi Tax Bar Association (KTBA) on Monday organized pre-budget seminar to recommend tax proposals for year 2019/2020. Ali A Rahim, Director, Bakertilly Chartered Accountants presented income tax recommendations for the upcoming budget. Rahim presented following recommendations: Depreciation on Musharika Assets Under Section 22(15)C Proposal: The depreciation on Musharika assets to be allowed retrospectively since […]

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PBC suggests measures for broadening tax base by enhancing withholding tax rates on non-filers, unregistered persons
May 6
2019-2020, Budget, Trade & Industry

PBC suggests measures for broadening tax base by enhancing withholding tax rates on non-filers, unregistered persons

KARACHI: Pakistan Business Council (PBC) has suggested measures for broadening tax base through enhancing withholding tax rates on non-filers and unregistered persons in various sectors. The PBC – the advisory council of large corporate entities – in its budget proposals for 2019/2020 said that the concept of separate withholding tax rates for filers and non-filers […]

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PSX proposes reducing withholding tax to 2.5pc on income from margin financing transactions
May 5
2019-2020, Budget, Stock & Commodity

PSX proposes reducing withholding tax to 2.5pc on income from margin financing transactions

KARACHI: Pakistan Stock Exchange (PSX) has recommended the tax authorities to reduce the withholding tax to 2.5 percent from 10 percent to develop the market and increase tax collection. In its budget proposals for 2019/2020, the stock market said that the proposed reduction in the rate of tax on margin financing transactions would help develop […]

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Commercial importers destroying domestic industry: PBC
May 5
2019-2020, Budget, Trade & Industry

Commercial importers destroying domestic industry: PBC

KARACHI: Pakistan Business Council (PBC) – the advisory forum of large corporate entities – has said that commercial importers are involved in massive under-invoicing and they are destroying the domestic industry. In its budget proposals for 2019/2020, the PBC recommended measures for documentation of economy to providing level playing field for domestic manufacturing. The PBC […]

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