Islamabad: Foreign investors have advised Pakistan to refrain from introducing new taxes in the forthcoming budget for 2023-24, expressing concerns over the potential negative impact on the country’s formal business sector.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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PAFLA Calls for Removal of Tax Burden on Freelancers
Pakistan Freelancers Association (PAFLA) has submitted a budget proposal to the government, calling for the abolition of taxes on freelancers’ income to support Pakistan’s booming freelancing industry and encourage foreign exchange earnings.
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KCCI Delegation Meets Finance Minister to Boost Business Support
The delegation of Karachi Chamber of Commerce and Industry (KCCI) met Finance Minister Ishaq Dar to business support. The Finance Minister reassured that the government is committed to supporting the business and industrial sector to ensure economic growth and stability in the country.
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UNISAME Calls for Tailored Amnesty Program to Boost Imports and Support SMEs
The Union of Small and Medium Enterprises (UNISAME) in Pakistan has launched an initiative to encourage both domestic and overseas Pakistanis to bring in their foreign currency without facing any inquiries.
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FPCCI welcomes barter trade with Afghanistan, Iran and Russia
President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh, has welcomed the barter trade with Afghanistan, Iran and Russia.
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PM Sharif Directs Strict Measures to Combat Illegal Sale of Cigarettes
Prime Minister Shehbaz Sharif, during a meeting with a delegation from the Pakistan Tobacco Company, emphasized the immediate need to address the issue of illegal sales of cigarettes and tobacco products.
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High Cigarette Taxes Fuel Illicit Trade in Pakistan: Experts
The imposition of high taxes on cigarettes inadvertently promotes the rise of illicit cigarette trade in Pakistan, sparking concerns about the government’s strategy to protect public health through increased taxation.
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Pakistan Seeks to Generate $300 Million in PVC Exports through Strategic Initiatives
Karachi, May 31, 2023: Pakistan is poised to capitalize on significant investments in domestic PVC production, with the potential to earn $300 million through the export of surplus volumes and products.
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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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NLC’s stall draws attention at TEXPO
The National Logistics Cell (NLC) garnered significant attention at the fourth edition of the Textile Exhibition (TEXPO) 2023, organized by the Trade Development Authority of Pakistan at the Karachi Expo Centre.
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