Pakistan Revenue
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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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.
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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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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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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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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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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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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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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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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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