Budget 2021/2022: salient features of budgetary measures in Customs Duty

Jun 11

Budget 2021/2022: salient features of budgetary measures in Customs Duty

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced measures in regime of customs duty. GUIDING PRINCIPLES (a) Remove anomalies in cascading structure of tariff (b) Promote and protect domestic industry by introducing targeted interventions (c) Enhance import-substitution by rationalizing tariffs on industrial raw materials / intermediate goods (d) Facilitate export-oriented manufacturing by […]

by Mrs. Anjum Shahnawaz

Budget 2021/2022: salient features of budget measures in sales tax regime

Jun 11

Budget 2021-2022, Taxation

Budget 2021/2022: salient features of budget measures in sales tax regime

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced following budgetary measures pertaining to Sales Tax: REVENUE MEASURES 1. The sale of goods through online market place is proposed to be brought into the sales tax net by deeming the online market place as supplier in respect of third party sales through their […]

by Mrs. Anjum Shahnawaz

Budget 2021/2022: salient features of budgetary measures in federal excise duty

Jun 11

Budget 2021-2022, Taxation

Budget 2021/2022: salient features of budgetary measures in federal excise duty

ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and proposed following budgetary measures pertaining to Federal Excise Duty (FED): REVENUE MEASURES 1. In order to reap reasonable revenue from this sector, federal excise on mobile phone calls exceeding three minutes @ Re 1 per call, SMS message @ Re. 0.1 per […]

by Mrs. Anjum Shahnawaz

Budget 2021/2022: salient features of measures taken in income tax

Jun 11

Budget 2021-2022, Taxation

Budget 2021/2022: salient features of measures taken in income tax

ISLAMABAD: The federal government on Friday announced budget for fiscal year 2021/2022 and notified relief and revenue measures in income tax. REVENUE MEASURES • Special regime for export of services at par with export of goods to be taxed @ 1% under final tax regime. • Elimination of block taxation of property income and shift […]

by Mrs. Anjum Shahnawaz

Budget 2021/2022: key features of spending under public sector development program

Jun 11

Budget 2021-2022, Finance

Budget 2021/2022: key features of spending under public sector development program

ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and allocated Rs900 billion for public sector development program (PSDP). Following are the highlights of allocations PSDP for various ministries and divisions for the fiscal year 2021-22 announced by the Federal Government here Friday: — Total outlay of the PSDP for the fiscal […]

by Mrs. Anjum Shahnawaz

Budget 2021/2022: salary and pension increased by 10 percent

Jun 11

Budget 2021-2022, Finance

Budget 2021/2022: salary and pension increased by 10 percent

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announce an increase of 10 percent in basic salary and pension of the government employees. While delivering the budget speech for the year 2021-22, Minister for Finance Shaukat Tarin announced that the increase in salaries and pensions of the federal government employees would be applicable […]

by Mrs. Anjum Shahnawaz

Jun 11

Budget 2021-2022, Finance

Budget 2021/2022 at a glance

ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022. Following is the budget at a glance: Total resources: Rs8,487 billion Total revenue (Federal Board of Revenue): Rs5,829 billion Non Tax Revenue: Rs2,080 billion Gross Revenue Receipts: Rs7,909 billion Less Provincial Share: Rs3,412 billion Net Revenue Receipts (a-b): Rs4,497 billion Non Bank Borrowing […]

by Mrs. Anjum Shahnawaz

Preparation for Budget 2021/2022 finalized, to be presented on June 11

Jun 9

Budget 2021-2022, Finance

Preparation for Budget 2021/2022 finalized, to be presented on June 11

Despite the ongoing challenges posed by the third wave of the COVID-19 pandemic, the Pakistani government is gearing up to present its third budget for the fiscal year 2021-22 in the Parliament on June 11, Friday.

by Mrs. Anjum Shahnawaz

SECP proposes exemption of additional CGT on foreign investors

Jun 9

Budget 2021-2022, Stock & Commodity

SECP proposes exemption of additional CGT on foreign investors

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has recommended exemption of additional capital gain tax (CGT) on disposal of shares in case of foreign investors, who are not on the Active Taxpayers List (ATL). The SECP submitted tax proposals for budget 2021/2022 to the Federal Board of Revenue (FBR). The SECP submitted following […]

by Mrs. Anjum Shahnawaz

Value added textile exporters demand 50 percent reduction in withholding tax

Jun 9

Budget 2021-2022, Trade & Industry

Value added textile exporters demand 50 percent reduction in withholding tax

KARACHI: The association of value added textile exporters on Wednesday demanded to reduce the withholding income tax by 50 percent in order to reduce burden on manufacturers and improve country’s foreign exchange earnings. In a joint press conference, the exporters demanded the government of restoring Zero Rating – No Payment No Refund System, continuation of […]

by Mrs. Anjum Shahnawaz