The Pakistan Stock Exchange (PSX) has recommended to the government the introduction of an investment and saving accounts scheme as part of its proposals for the 2023-2024 budget.
(more…)Category: Budget
This is parent category of budgets presented by Pakistan government. Here you will find year-wise federal and provincial budgets.
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Pakistan May Impose High Tax Rates on Non-Filer Religious Travelers
Pakistan is reviewing a proposal to impose significantly higher tax rates on non-filer religious travelers as part of its efforts to bring undocumented money into the formal economy.
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Pakistan Urged to Intensify Taxation on Tobacco Industry
As Pakistan prepares for the federal budget of 2023-2024, advisory firm Adam Smith International, under its REMIT (Revenue, Mobilization, Investment, and Trade) project, has recommended further taxation on the tobacco industry.
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Dar Vows Business-Friendly Budget to Spur Economic Growth
Islamabad, May 29, 2023: In a meeting with the Association of Builders and Developers of Pakistan (ABAD), Senator Mohammad Ishaq Dar, the Federal Minister for Finance and Revenue, announced the government’s commitment to introduce a business-friendly budget aimed at supporting the masses and bolstering economic growth. The gathering took place in Islamabad on Monday.
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ICAP Proposes Rationalizing Tax Rates for Salary Income
The Institute of Chartered Accountants of Pakistan (ICAP) has suggested the rationalization of tax rates on the income of salaried individuals in their proposals for the budget 2023-2024.
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Proposal to Abolish Withholding Tax Regime for Listed Companies
The Institute of Chartered Accountants of Pakistan (ICAP) has recommended the removal of the withholding tax burden imposed on listed companies by the Federal Board of Revenue (FBR).
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ICAP Recommends Separate Bench at Higher Courts for Tax Cases
The Institute of Chartered Accountants of Pakistan (ICAP) has proposed the establishment of a separate bench dedicated to tax cases at all higher courts.
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Chartered Accountants Demand KIBOR+3% for Delayed Refund Payments
Chartered Accountants in Pakistan have raised concerns over the delayed refund payments by the Federal Board of Revenue (FBR). The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the FBR should pay interest at the Karachi Interbank Offered Rate (KIBOR) plus 3 percent for delayed refunds.
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Pakistan advised to increase sales tax rate to 18% for fashion textile
In the run-up to the budget for the fiscal year 2023-2024, Adam Smith International’s REMIT (Revenue, Mobilization, Investment, and Trade) program for Pakistan has recommended an increase in the sales tax rate on fashion textile retailers from 12 percent to 18 percent.
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ICAP recommends steps to prevent smuggling in CPEC trade
The Institute of Chartered Accountants of Pakistan (ICAP) has put forth recommendations to ensure that foreign trade conducted through the China Pakistan Economic Corridor (CPEC) remains free from smuggling and illegal activities.
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