Islamabad, May 13, 2025 — The government of Pakistan is considering a significant tax reform by planning to abolish the 18% sales tax on locally produced cotton in the upcoming federal budget for 2025-26.
(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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SAI urges withdrawal of Tax Laws (Amendment) Ordinance 2025
Karachi, May 10, 2025 — The SITE Association of Industry (SAI) has issued a strong appeal to Prime Minister Shehbaz Sharif, demanding the urgent withdrawal of the recently promulgated Tax Laws (Amendment) Ordinance 2025, warning that the new legislation poses a significant threat to both economic stability and constitutional norms.
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Foreign tobacco giants urge Aurangzeb to reform duty structure
Islamabad, May 9, 2025 – Major international tobacco companies have urged Finance Minister Muhammad Aurangzeb to reform Pakistan’s excise duty framework in order to combat illicit trade, increase tax revenue, and stabilize the formal tobacco sector.
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OICCI advocates broadening tax base to achieve 15% tax-to-GDP
ISLAMABAD, May 9, 2025 — The Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the government to prioritize broadening the tax base in the upcoming budget for FY2025-26, stating that this is essential to achieving a sustainable tax-to-GDP ratio of 15%.
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OICCI recommends gradual phasing out of minimum turnover tax
Karachi, May 9, 2025 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed a structured, three-year phase-out of the minimum turnover tax, citing its detrimental impact on businesses operating on slim profit margins.
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Foreign investors demand abolition of super tax in FY26 budget
Karachi, May 9, 2025 – A strong call has emerged from the foreign business community in Pakistan, urging the government to abolish the super tax in the upcoming federal budget for 2025–26.
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SECP registers 2,956 new companies in April 2025
Islamabad, May 9, 2025 — The Securities and Exchange Commission of Pakistan (SECP) has reported a significant boost in corporate activity, with the registration of 2,956 new companies during April 2025.
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SAPM reassures KCCI of full support for Karachi’s industrial revival
Karachi, May 8, 2025 — Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan held a detailed virtual meeting with the leadership of the Karachi Chamber of Commerce and Industry (KCCI) via Zoom.
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KCCI, RCCI lead unified business stand against tax ordinance
KARACHI: In a strong display of solidarity, the Karachi Chamber of Commerce and Industry (KCCI) and the Rawalpindi Chamber of Commerce and Industry (RCCI) have jointly voiced firm opposition to the Tax Ordinance (Amendment) 2025, calling it detrimental to business growth and investor confidence in Pakistan.
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SAI criticizes minimal rate cut, urges reduction to single digits
KARACHI: The SITE Association of Industry (SAI) has expressed strong dissatisfaction over the State Bank of Pakistan’s (SBP) recent decision to cut the benchmark policy rate by just 1%, terming the move inadequate and disconnected from the economic needs of the industrial sector.
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