In a bid to offset the costs of imported goods, Pakistan is contemplating an increase in tax rates for commercial importers. A high-powered commission, led by Finance Minister Muhammad Ishaq Dar, has recommended raising the tax rates under section 148 of the Income Tax Ordinance, 2001.
(more…)Category: Budget 2023-2024
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FPCCI demands abolishing section 7E of Income Tax Ordinance
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called on the government to abolish Section 7E of the Income Tax Ordinance, 2001.
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PM Shehbaz directs authorities to focus on relief measures in budget
Prime Minister Shehbaz Sharif has directed his economic team to focus on relief measures and economic stability in the upcoming budget 2023-2024.
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SITE Association urges government to lift import restrictions in budget 2023-2024
Karachi, May 23, 2023 – The SITE Association of Industry (SAI) has called on the government to lift import restrictions in the upcoming budget for 2023-2024.
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KCCI stresses out-of-box solutions to prevent further downslide in economy
The Karachi Chamber of Commerce and Industry (KCCI) has emphasized the need for out-of-the-box solutions to prevent a further downslide in Pakistan’s economy.
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FBR presents tax proposals for budget 2023-2024 in briefing to finance minister
The Federal Board of Revenue (FBR) conducted a briefing on Monday to present tax proposals for the upcoming budget of 2023-2024 to Finance Minister Muhammad Ishaq Dar. The meeting, held at the Finance Division, was chaired by Minister for Finance and Revenue, Senator Mohammad Ishaq Dar.
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Experts advocate for higher duties, taxes on cigarettes for healthy Pakistan
In a bid to ensure a healthier Pakistan, health experts are calling on the government to impose increased duties and taxes on cigarettes.
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Trade body proposes VAT on supplies to individuals without CNIC
The Karachi Chamber of Commerce and Industry (KCCI) has recommended that the Federal Board of Revenue (FBR) impose a value-added tax (VAT) on supplies made to individuals who fail to provide their Computerized National Identity Card (CNIC) number.
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Karachi Chamber calls for separate currency exchange portal to boost trade facilitation
Karachi Chamber of Commerce and Industry (KCCI) has urged the central bank to establish a dedicated online platform for buying and selling foreign currencies, specifically the US Dollar.
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KCCI proposes importers’ role in foreign exchange arrangements for import payments
Karachi Chamber of Commerce and Industry (KCCI) has put forward a proposal suggesting that importers should be allowed to independently arrange foreign exchange for their import payments.
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