Karachi, March 29, 2024: In a bid to enhance the tax-to-GDP ratio and mitigate budget deficits, advocacy firm Mustehkam Pakistan highlights the urgency for Pakistan to address tax evasion and illicit trade, estimating losses exceeding Rs 1 trillion across key sectors.
(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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Illicit Cigarette Manufacturers Exploit Exports Quota to Evade Tax
Karachi, March 28, 2024 – Cigarette manufacturers in Pakistan are finding loopholes in export regulations to evade taxes, causing significant losses to the national exchequer.
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Karachi Chamber Opens on Sunday for Membership Renewal
Karachi, March 27, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has announced the opening of its doors on Sunday, March 31, 2024, to facilitate the renewal of memberships, in response to the approaching deadline.
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Industry Urges Abolishment of Section 8B of Sales Tax Act
Karachi: The industrial sector in Pakistan has called upon authorities to take decisive action in abolishing Section 8B of the Sales Tax Act, 1990, asserting that such a move is crucial for fostering industrial growth in the country.
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PTC Recognized as Top Taxpaying Entity
The Government of Pakistan has bestowed the Pakistan Tobacco Company Limited (PTC) with an esteemed honor for its remarkable contribution as one of the country’s highest taxpaying entities.
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Unilever Pakistan Anticipates Challenges Ahead
Karachi, March 26, 2024 – Unilever Pakistan Foods Limited, in its latest report released on Tuesday, has underscored the daunting economic and operational hurdles expected in the near term.
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Lahore Chamber Demands Withdrawal of Gas Tariff Hike
Lahore Chamber of Commerce and Industry (LCCI) is vigorously advocating for the withdrawal of the recent gas tariff hike, asserting its detrimental impact on the economy at large.
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Philip Morris Pakistan Faces 86% Decline in Income for 2023
Philip Morris (Pakistan) Limited, a prominent international tobacco company, has reported a staggering 86 percent decline in its total income for the fiscal year 2023.
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Governor Sindh Advocates for Empowering Business Community
KARACHI, March 23, 2024 – Governor Sindh Kamran Khan Tessori emphasized the crucial role of collective efforts in reshaping the perception about the business community, stressing that Pakistan’s progress hinges on the prosperity of its entrepreneurs.
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Foreign Investors Submit Proposals for Pakistan Budget 2024-25
Foreign investors actively engaged in Pakistan have recently presented their proposals for the upcoming 2024-25 budget to the government, aiming to address critical fiscal deficits and enhance the investment climate in the country.
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