Pakistan Revenue
This is parent category of budget presented by Pakistan government. Here you will find year-wise federal and provincial budgets.
KARACHI: The government is considering to reduce the federal excise duty on cigarettes in order to discourage duty evasion and stop smuggling. Sources said that proposals had been invited from stakeholders to rationalize the duty structure on tobacco industry. The sources said that the authorities were considering to reduce the FED rate by 10 percent […]
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KARACHI: A former chairman of Federal Board of Revenue (FBR) has recommended the government to stop the circulation of Rs5000 banknote and phase out in circulation the banknote within one year. Syed Shabbar Zaidi, former FBR chairman, submitted his proposals for budget 2021/2022 to Prime Minister Imran Khan. “There has to be gradual evaporation of […]
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KARACHI: Tax practitioners have demanded the Federal Board of Revenue (FBR) to allow capital gain tax (CGT) exemption to private companies in order to encourage corporatization in the country.
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KARACHI: The Federal Board of Revenue (FBR) has been urged to rationalize rental income from property and individuals or Association of Persons (AOPs) should be taxes as full and final discharge of tax liability. Karachi Tax Bar Association (KTBA) in its proposals for budget 2021/2022 said that the rental income from property, AOP or individual […]
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KARACHI: The Karachi Tax Bar Association (KTBA) has presented income tax proposals for salary income for incorporating in the Finance Bill 2021. In its proposals for budget 2021/2022, the tax bar highlighted the issue related to taxation of notional income. It said that the difference between the benchmark rate and the actual rate of interest […]
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KARACHI: Pakistan Stock Exchange (PSX) has recommended to reduce the rate of withholding tax on the gross income earned on margin financing (MF) transactions from 10 percent to 2.5 percent. The PSX in its proposals for budget 2021/2022 said that MF facility is available to all Trading Rights Entitlement Certificate (TREC) holders against net ready […]
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KARACHI: The Pakistan Business Council (PBC) has informed the higher authorities that the massive under-invoicing, especially by commercial importers, is destroying domestic industry. In its proposals for budget 2021/2022 the PBC pointed out that across the board massive under invoicing and dumping of imported products has been increasing. Information regarding values at which various custom […]
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KARACHI: Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to restore laws related to group taxation in the initial form as introduced via Finance Act 2007 and Finance Act 2008. In its proposals for budget 2021/2022, the business council said that most recently, via Income Tax Laws (Second Amendment) Ordinance, 2021, […]
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KARACHI: Pakistan Business Council (PBC) has identified anomalies in minimum tax rates and demanded the levy should be abolished. In its budget proposals for 2021/2022 submitted to the Federal Board of Revenue (FBR) the council said that the rate of minimum tax of 1.5 percent is extremely high and unrealistic. It identified that as per […]
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KARACHI: Pakistan Business Council (PBC) has suggested rationalizing sales tax regime as higher standard rate of 17 percent is discouraging documentation. In its proposals for budget 2021/2022, the PBC said that the high standard tax rate of 17 percent has led to low registration of less than 200,000 while income tax filers are about 2. […]
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