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.
KARACHI: Pakistan Stock Exchange (PSX) has advised the government to introduce a scheme for attracting investment from large black economy. In its budget proposals for fiscal year 2019/2020 the stock exchange advised the government to introduce a mechanism and regulatory structure for the launch of registered savings and investment accounts (RSIA) to help channel savings […]
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KARACHI: Pakistan Stock Exchange (PSX) has proposed to exempt capital gain tax (CGT) on disposal of securities by foreign investors. The PSX in its proposals for budget 2019/2020 on Thursday, recommended the exemption of CGT on disposal of securities by foreign investors. Giving rationale to its proposals, the PSX said that the exemption of CGT […]
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KARACHI: The office bearers of Karachi Tax Bar Association (KTBA) discussed budget proposals 2019/2020 with Chief Commissioners of Inland Revenue on Wednesday. The chief commissioners Inland Revenue from Regional Tax Offices (RTOs) Karachi including Shafqat Kehar, Badaruddin Ahmed Qureshi and Muhammad Ali Khan. The chief commissioners visited the KTBA and met newly elected office bearers. […]
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KARACHI: Federal Board of Revenue (FBR) has identified that large number of retailers are suppressing electricity consumption to avoid mandatory registration. A tax unit in Karachi in its budget proposals for fiscal year 2019/2020, asked the FBR Headquarters to review the present regime of sales tax registration for retailers as they were taking undue advantage. […]
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KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has recommended that harsh measures of freezing bank account and raid should only be undertaken on discovery of massive tax evasion. A delegation of KCCI held discussions on Budget Proposals for Federal Budget 2019-2020 with Chairman Federal Board of Revenue (FBR) Jehanzaib Khan and his team at […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to bring professionals into tax net as they are not documented despite earning huge money. In its proposals for Budget 2019/2020, the apex trade body said that the professionals including doctors and lawyers should be taxed as large number of those […]
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KARACHI: Federal Board of Revenue (FBR) to recommend the government to redefine withholding tax on motor vehicles to bring construction and heavy vehicles into tax net. The FBR sources said that the FBR may propose amendment to Section 231B(7) of Income Tax Ordinance, 2001. This section presently defined motor vehicle, including car, jeep, van, sports, […]
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KARACHI: Regional Tax Office (RTO) – II Karachi has recommended revival of minimum tax regime for commercial importers in the budget 2019/2020. According to budget proposals sent to Federal Board of Revenue (FBR), the RTO-II Karachi recommended that Final Tax Regime for commercial importers should be withdrawn as it was creating distortion in the taxation […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed reducing sales tax to single digit from existing 17 percent. In its pre-budget conference on Wednesday, the apex trade body present its set of proposals for budget 2019/2020.
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ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for submitting customs related budget proposals for 2019/2020. In a notification to all chambers and association, the FBR said that the board issued a letter on January 25, 2019 for submitting customs proposals for budget 2019/2020. The proposals would cover three areas i.e. changes […]
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