FPCCI demands elimination of discretionary powers of tax officials

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded withdrawal of discretionary powers of tax officials including multiple selection of audit and entering business premises. Mian Anjum Nisar, President... Read more »

PBC advocates abolishing anti-dumping duty on raw material used for exports

KARACHI: Pakistan Business Council (PBC) has advocated abolishing anti-dumping duty on imported raw material that are used for export oriented units (EOU). In a letter sent to Abdul Razak Dawood, Advisor to... Read more »

Hafeez Shaikh directs FBR to collect data for effective budget making

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh on Monday directed the Federal Board of Revenue (FBR) to collect data for effective budget making for year... Read more »

FBR proposed to ensure CPR for deposited withholding tax

KARACHI: Federal Board of Revenue (FBR) has been advised to ensure Computerized Payment Receipt (CPR) for deposited withholding tax in order to avert chances of revenue leakages. Pakistan Business Council (PBC) in... Read more »

FBR advised to amend withholding tax on prize winnings

KARACHI: Federal Board of Revenue (FBR) has been advised to amend the income tax law related to withholding tax deduction on prize winnings. Pakistan Business Council (PBC) in its budget proposals for... Read more »

Corporate, super tax rates should be aligned for banks

KARACHI: Federal Board of Revenue (FBR) has been proposed to bring down the corporate tax rate for banks at par with other corporate sector and also treatment of super tax for banking... Read more »

Tax authorities consider reducing minimum tax rate: Zeeshan Merchant

KARACHI: Tax authorities have agreed to consider reducing minimum tax rate for corporate sector and individuals in the upcoming budget, especially in the wake of financial losses due to coronavirus pandemic, a... Read more »

Time limit for customs valuation issuance should be fixed

KARACHI: Federal Board of Revenue (FBR) has been recommended to fix time limit for issuance of customs valuation. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in its proposals for budget... Read more »

FBR advised to make annexure-J mandatory to prevent under reporting

KARACHI: Federal Board of Revenue (FBR) has been advised to make it mandatory the filing annexure-J along with monthly sales tax returns in order to remove disparity between formal and informal sectors.... Read more »

FBR urged to clarify income tax relief to group companies

KARACHI: Federal Board of Revenue (FBR) has been urged to clarify group relief under income tax laws regarding a holding company can purchase losses of its subsidiary. Pakistan Business Council (PBC) in... Read more »