Category: Budget 2022-2023

KARACHI: The Federal Board of Revenue (FBR) has been proposed to restore group taxation laws in its initial form as introduced through Finance Act, 2007 and Finance Act, 2008. Karachi Tax Bar Association (KTBA) in its proposals for budget 2022/2023 urged the authorities to restore group taxation laws. It said through second amendment, exemption on […]

KARACHI: Karachi Tax Bar Association (KTBA) has proposed to delete provisions that are penalizing compliant taxpayers for fault or non-compliance of dealers.

KARACHI: The Federal Board of Revenue (FBR) has been proposed to restore first year allowance on installation of plant and machinery by an industrial undertaking in rural and under developed area. Karachi Tax Bar Association (KTBA) in its proposals for budget 2022/2023, recommended the FBR to reintroduce first year allowance under Section 23A of Income […]

KARACHI: Karachi Tax Bar Association (KTBA) has recommended abolishing minimum tax for listed companies and should be reduced in other cases.

KARACHI: The Federal Board of Revenue (FBR) has been suggested to reduce the corporate tax rate to 25 per cent from existing 29 per cent in order to attract both local and foreign investments. Karachi Tax Bar Association (KTBA) in its proposals for budget 2022/2023, suggested the FBR to bring down the corporate tax rate […]

KARACHI: Karachi Tax Bar Association (KTBA) has suggested tax authorities to allow tax incentives for new investments in order to promote industrialization in the country. The KTBA in its proposals for budget 2022/2023 suggested the Federal Board of Revenue (FBR) to allow tax credit for making new investments by amending sections 65B, 65D and 65E […]

KARACHI: The Federal Board of Revenue (FBR) has been suggested to expand the tax credit on employment generation in order to create opportunities of employment. Karachi Tax Bar Association (KTBA) in its proposals for budget 2022/2023 submitted to the FBR sought extension of tax credit on employment generation under section 64B of the Income Tax […]

KARACHI: Karachi Tax Bar Association (KTBA) has suggested the tax authorities to reintroduce tax credit on registered sales in order to broaden the tax base. The KTBA in its proposals for budget 2023/2023 urged the Federal Board of Revenue (FBR) to reintroduce the tax credit on registered sales by making amendment in Section 65A of […]

KARACHI: The Federal Board of Revenue (FBR) has been urged to amend provisions related to incentive to Greenfield industrial undertaking. According to proposals for budget 2022/2023 presented by Karachi Tax Bar Association (KTBA), incentive had been defined under Section 2(27A) of Income Tax Ordinance, 2001 related to Greenfield industrial undertaking. READ MORE: FBR invites Sales […]