Realtors have staunchly opposed any proposed tax hikes on property transactions in the forthcoming 2024-25 budget. The government has hinted at the possibility of imposing additional taxes on the real estate sector as part of its commitments to the International Monetary Fund (IMF), prompting significant backlash from industry stakeholders.
(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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Foreign Investors Urge Beverage Industry Protection in Pakistan
Karachi, May 26, 2024 – Foreign investors operating in Pakistan have called for the protection of the beverage industry and demanded a level playing field comparable to other sectors within the food industry.
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OICCI Advises Pakistan Avoid Further Increase in Cigarette Taxes
Karachi, May 26, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has advised Pakistan to avoid further increases in taxes on cigarettes.
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PBC Demands Transparent Fixation of Import Trade Price
Karachi, May 26, 2024 – The Pakistan Business Council (PBC) has called on authorities to ensure a transparent system for fixing import trade prices. In its proposals for the upcoming Budget 2024-25, the PBC highlighted that commercial importers are undermining the domestic industry through widespread under-invoicing and dumping of imported products.
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Sindh Minister Forms Committee to Resolve KATI Problems
KARACHI: In a bid to address the longstanding issues faced by the Korangi Association of Trade and Industry (KATI), Sindh Minister of Local Government, Housing Town Planning, and Public Health Engineering, Saeed Ghani, has announced the formation of a dedicated committee comprising municipal officers.
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PBC Urges Rectification of Tax Anomalies in Services Sector
Karachi, May 24, 2024 – The Pakistan Business Council (PBC) has urged authorities to address and rectify tax anomalies in the services sector through amendments in the forthcoming budget for the fiscal year 2024-25.
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PPL Forms JV with Degan Exploration for Mineral Project
Karachi, May 24, 2024 – Pakistan Petroleum Limited (PPL) announced on Friday the formation of a joint venture (JV) with Degan Exploration Works (DEW) for a mineral exploration license in District Chagai, Balochistan. This strategic move aims to diversify PPL’s business portfolio by expanding its mining operations.
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Fruit Juice Council Demands Removal of 20% FED in Budget
Karachi, May 23, 2024 – The Fruit Juice Council (FJC) has urgently appealed to the Federal Board of Revenue (FBR) for the elimination of the 20% Federal Excise Duty (FED) in the forthcoming budget for 2024-25.
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UNISAME Calls for Bringing PayPal and Stripe to Pakistan
Karachi, May 23, 2024 – The Union of Small and Medium Enterprises (UNISAME) has urged the Pakistani government to expedite the introduction of PayPal and Stripe in the country to address the payment issues faced by start-ups and freelancers.
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KCCI Proposes Measures to Combat Fraud by Foreign Suppliers
Karachi, May 23, 2024 — In a bid to protect importers from fraudulent activities by foreign suppliers, the Karachi Chamber of Commerce and Industry (KCCI) has presented a comprehensive plan to the tax authorities.
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