Supplementary Budget 2019 Archives - Page 2 of 4

Reform package exempts withholding tax for rupee accounts receiving foreign remittances

January 27, 2019May 13, 2024Mrs. Anjum Shahnawaz2 Comments

KARACHI: The new reform package has allowed exemption from collection of withholding tax on cash withdrawals from a bank account maintained in local currency where deposits are made through foreign remittances.

Bill proposes valuation in US Dollar for imported mobile phones to collect smart phone levy

January 26, 2019November 14, 2023Mrs. Anjum Shahnawaz

KARACHI – The Finance Supplementary (Second Amendment), 2019 has introduced a proposed overhaul in the valuation and levy structure for imported mobile phones, shifting from Pakistani Rupees to US Dollars.

Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials

January 26, 2019November 14, 2023Mrs. Anjum Shahnawaz

In a major move aimed at boosting both the export sector and domestic industrial production, the Pakistani government has unveiled plans to eliminate or reduce customs duty, additional customs duty, and regulatory duty on 135 tariff lines associated with crucial raw materials.

Changes to sales tax exemptions proposed

January 26, 2019November 14, 2023Mrs. Anjum Shahnawaz

Changes to sales tax exemption have been proposed through Finance Supplementary (Second Amendment) Bill of 2019.

Rs6.8 billion revenue loss estimated on implementation of reform package: FBR

January 25, 2019November 13, 2023Mrs. Anjum Shahnawaz

An amount of Rs6.8 billion as revenue loss has been estimated on implementation of reform package by the Federal Board of Revenue (FBR).

FED rates revised for locally manufactured, imported vehicles

January 25, 2019November 13, 2023Mrs. Anjum Shahnawaz

Federal Excise Duty (FED) rates have been revised for locally manufactured and imported vehicles through the Finance Supplementary (Second Amendment) Bill, 2019.

Sales tax rates revised for imported mobile phones

January 24, 2019November 11, 2023Mrs. Anjum Shahnawaz1 Comment

Sales tax rates have been revised for imported mobile phones. The new tax rates will also apply on local supply as well as registration of IMEI.

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

January 24, 2019November 11, 2023Hamza Shahnawaz

Obtaining Sales tax refunds has been made easy as the government decided to issue 3-year promissory notes to bear 10 percent annual profit.

Finance Supplementary Bill: Major changes introduced to income tax

January 24, 2019November 11, 2023Mrs. Anjum Shahnawaz

Finance Supplementary Bill: Major changes introduced to income tax have been announced by the Federal Board of Revenue (FBR).

Finance Supplementary Bill: FBR issues salient features of sales tax and federal excise duty

January 24, 2019November 11, 2023Mrs. Anjum Shahnawaz

Finance Supplementary Bill: Federal Board of Revenue (FBR) has issued salient features of sales tax and federal excise duty proposed through Finance Supplementary (Second Amendment) Bill, 2019.

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Category: Supplementary Budget 2019

Reform package exempts withholding tax for rupee accounts receiving foreign remittances

Bill proposes valuation in US Dollar for imported mobile phones to collect smart phone levy

Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials

Changes to sales tax exemptions proposed

Rs6.8 billion revenue loss estimated on implementation of reform package: FBR

FED rates revised for locally manufactured, imported vehicles

Sales tax rates revised for imported mobile phones

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

Finance Supplementary Bill: Major changes introduced to income tax

Finance Supplementary Bill: FBR issues salient features of sales tax and federal excise duty

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