Pakistan Revenue
ISLAMABAD: The government has announced abolishing duty and taxes on locally manufactured and imported cars with engine capacity up to 850cc to enable low earning families to afford motor vehicles. Finance Minister Shaukat Tarin while presenting federal #budget 2021/2022 on Friday announced duty and tax incentives for sale and import of motor cars with engine […]
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ISLAMABAD: The government has announced input sales tax adjustment for companies listed on Pakistan Stock Exchange (PSX) to promote corporatization in the country. Finance Minister Shaukat Tarin while presenting federal #budget 2021/2022 on Friday said that relaxation of restriction on input tax adjustment under section 8B of Sales Tax Act, 1990 had been granted. He […]
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ISLAMABAD: The government has facilitated small businesses and increased the threshold of turnover up to Rs10 million from Rs3 million and they will not be required to get sales tax registration.
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ISLAMABAD: Finance Minister Shaukat Tarin on Friday said that the government will incentivize consumers through a system of prizes on sales tax receipts through an open ballot every month. The finance minister while presenting the federal budget 2021/2022 on the floor of the house said that a special cell in FBR had been established comprising […]
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ISLAMABAD: Finance Minister Shaukat Tarin on Friday announced to restore Universal Self Assessment Scheme (USAS) in actual form to facilitate tax return filers. While presenting federal budget 2021/2022, the finance minister said that the lynchpin of economic policy would be resource mobilisation, especially tax revenues. We plan to fundamentally restructure the taxation regime and working […]
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ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced increase in monthly minimum wage to Rs20,000 from Rs17,500. Finance Minister Shaukat Tarin while presenting the budget on floor of the house, announced to increase the minimum wage to Rs20,000 to reduce the burden on lower income group of rising prices. The minister also […]
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ISLAMABAD: The federal government on Friday presented a deficit budget with total outlay of Rs8.4 trillion with host of relief and budgetary measures. Presenting the fiscal year budget, Finance Minister Shaukat Tarin on floor of the house said despite the severity of 3rd wave of COVID-19 pandemic, the incumbent government in its third budget made […]
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ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced measures in regime of customs duty. GUIDING PRINCIPLES (a) Remove anomalies in cascading structure of tariff (b) Promote and protect domestic industry by introducing targeted interventions (c) Enhance import-substitution by rationalizing tariffs on industrial raw materials / intermediate goods (d) Facilitate export-oriented manufacturing by […]
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ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced following budgetary measures pertaining to Sales Tax:
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ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and proposed following budgetary measures pertaining to Federal Excise Duty (FED): REVENUE MEASURES 1. In order to reap reasonable revenue from this sector, federal excise on mobile phone calls exceeding three minutes @ Re 1 per call, SMS message @ Re. 0.1 per […]
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