Tax relief package to mitigate COVID-19 shocks under consideration, FBR tells KCCI

Apr 18

Tax relief package to mitigate COVID-19 shocks under consideration, FBR tells KCCI

KARACHI: A top official of Federal Board of Revenue (FBR) has informed the office bearers of Karachi Chamber of Commerce and Industry (KCCI) that a tax relief package for business community was under consideration in order to dilute the adverse impact of coronavirus pandemic (COVID-19). “The relief measures in Sales Tax and other levies are […]

by Mrs. Anjum Shahnawaz

Why non-filers happy in paying high withholding tax rates, FPCCI asks FBR

Apr 16

Why non-filers happy in paying high withholding tax rates, FPCCI asks FBR

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over lower number of return filers and asked Federal Board of Revenue (FBR) to identify reasons that why non-filers happy in paying higher rate of withholding tax. According to a statement on Thursday, the FPCCI has finalize proposals for upcoming budget 2020/2021. […]

by Mrs. Anjum Shahnawaz

Budget Strategy: No amnesty schemes; individual tax threshold to be lowered for broadening of tax base

Mar 31

Budget, Budget 2020-2021, Taxation

Budget Strategy: No amnesty schemes; individual tax threshold to be lowered for broadening of tax base

ISLAMABAD: The government has prepared budget strategy under which no more amnesty scheme will be offered in future. Meanwhile, the tax threshold to broaden the tax base. The medium term budget strategy paper 2020/2023 released by the ministry of finance stated that the government will increase the share of direct taxes in revenues by enforcing […]

by Mrs. Anjum Shahnawaz

FBR invites sales tax proposals to eliminate flying invoices, tax fraud

Feb 27

Budget 2020-2021, Taxation

FBR invites sales tax proposals to eliminate flying invoices, tax fraud

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday invited sales tax proposals to eliminate flying invoices and tax frauds and with focus on broadening of tax base. The FBR issued a circular inviting all business chambers and associations to submit their sales tax and federal excise proposals for budget 2020/2021. The FBR said that the […]

by Mrs. Anjum Shahnawaz

FBR asked to suggest measure to eliminate exemptions

Feb 15

Budget 2020-2021, Taxation

FBR asked to suggest measure to eliminate exemptions

ISLAMABAD: The ministry of finance has asked Federal Board of Revenue (FBR) to suggest measure to eliminate exemptions and concessions. The Finance Division (Budget Wing) of the finance ministry asked the FBR to provide information for development of budget strategy paper 2020-2021 – 2022-2023. The finance division asked the FBR to provide information on the […]

by Mrs. Anjum Shahnawaz

Razak Dawood hints incentives for exporters in next budget

Jan 11

Budget 2020-2021, Trade & Industry

Razak Dawood hints incentives for exporters in next budget

KARACHI: Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Industry and Production on Saturday said that the ministry of commerce is planning a comprehensive strategy with the help of Federal Board of Revenue (FBR) to introduce export incentives in the next federal budget 2020/2021. Razak Dawood was addressing during his visit to Karachi Chamber […]

by Mrs. Anjum Shahnawaz

Jan 8

Budget 2020-2021

Federal budget 2020/2021 tentative schedule issued for May

ISLAMABAD: The government is planning to present federal budget 2020/2021 in the cabinet and the parliament in the month of May this year. The finance ministry on Wednesday issued budget call circular for the schedule of budget making process and its presentation in the parliament. The finance ministry has given tentative schedule of presenting the […]

by Mrs. Anjum Shahnawaz

Dec 22

Budget 2020-2021

Sindh issues schedule for announcing budget 2020/2021

KARACHI: Sindh government has announced to present provincial budget for 2020/2021 in first or second week of June 2020. According to schedule issued by Sindh Finance Department the budget for the fiscal year 2021/2020 likely to be presented to the cabinet and the provincial assembly by the finance minister in the first or second week […]

by Mrs. Anjum Shahnawaz