Telecom Operators Fight Proposed Fines and Taxes
Islamabad, June 23, 2024 – The Telecom Operators Association is locked in a battle against proposed penalties and tax measures outlined in the recently unveiled Finance Bill 2024-25.
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Category: Budget 2024-25
Pakistan Budget 2024–25 outlines key fiscal measures, taxation updates, development allocations, and economic reforms aimed at stabilizing economy.
SMAP Roils Over Proposed Tax Regime Shift in Pakistan
Karachi, June 23, 2024 – The Salt Manufacturers Association of Pakistan (SMAP) has become the latest industry group to voice strong opposition to a key provision in the recently unveiled federal budget.
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Education and Healthcare Sectors Fight for Tax Breaks in Pakistan
Islamabad, Pakistan – June 22, 2024 – Pakistan’s education and healthcare sectors are locked in a battle to preserve vital tax breaks proposed for elimination in the recently unveiled Finance Bill 2024.
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Anomaly Committee Calls for Review of New Exporters Tax Regime
Karachi, Pakistan – June 21, 2024 – Pakistan’s business community is calling for a reevaluation of a key provision in the recently unveiled Finance Bill 2024. The proposed change, a shift from a fixed tax regime for exporters to a regular tax system, has raised concerns and prompted a high-level meeting at the Federation of […]
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Exporters in Scramble to Avoid Tax Regime Shakeup
Islamabad, June 21, 2024 – Pakistan’s export sector is in a state of flux as exporters scramble to negotiate a way out of the proposed changes to their tax regime outlined in the Finance Bill 2024.
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FBR Officials Authorized Best Judgement Assessment in Sales Tax
ISLAMABAD, June 21, 2024 — In a significant move to streamline tax administration and compliance, the Federal Board of Revenue (FBR) officials have been granted the authority to make best judgement assessments in sales tax cases.
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Salaried Class Up in Arms Over Tax Hike in Finance Bill 2024
Pakistan’s salaried class has erupted in protest against the proposed tax hikes outlined in the recently unveiled Finance Bill 2024. The Salaried Class Alliance, a representative body for salaried workers, has submitted a scathing critique to the newly formed FBR technical anomaly committee.
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Finance Bill 2024 Enlarges Scope of Sales Tax Fraud Definition
Islamabad, Pakistan (June 19, 2024) — The Finance Bill 2024 has proposed significant changes to the definition of sales tax fraud, expanding its scope to encompass a wider array of activities.
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Finance Bill 2024 Revamps Sales Tax Audit
In a significant overhaul of the sales tax audit process, the Finance Bill 2024 proposes a complete revamp of Section 25 of the Sales Tax Act 1990.
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Capital Gains Tax on Disposal of Securities Increased
In a significant fiscal policy shift, the Finance Bill 2024 has proposed an increase in the capital gains tax (CGT) on the disposal of securities. Effective for securities acquired on or after July 1, 2024, the tax rate for gains realized by individuals appearing on the Active Taxpayers’ List (ATL) at both the time of […]
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