Tag: budget proposals
SECP proposes exemption of additional CGT on foreign investors
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has recommended exemption of additional capital gain tax (CGT) on disposal of shares in case of foreign investors, who are not […]
Value added textile exporters demand 50 percent reduction in withholding tax
KARACHI: The association of value added textile exporters on Wednesday demanded to reduce the withholding income tax by 50 percent in order to reduce burden on manufacturers and improve country’s […]
SECP suggests measures to document real estate sector
ISLAMABAD: Securities and Exchange Commission (SECP) has submitted its tax proposals for budget 2021/2022 for documenting real estate sector and promotion of Real Estate Investment Trusts (REITs). The SECP submitted […]
ACCA suggests imposing income tax on landowners
KARACHI: The Association of Chartered Certified Accountants (ACCA) has suggested the government to impose income tax at 7 percent on landowners to increase the agriculture share in the GDP. The […]
FBR urged to issue FTNs against withholding tax deduction
KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) to issue Fee Tax Numbers (FTNs) to persons who are not liable for withholding tax. In its proposals for […]
KTBA proposes amendments to automatic stay in recovery cases
KARACHI: Karachi Tax Bar Association (KTBA) has recommended amendments to provisions of the Income Tax Ordinance, 2001 related to automatic stay in recovery notices. It is proposals for budget 2021/2022, […]
Measures proposed to curb under invoicing by commercial importers
KARACHI: Pakistan Business Council (PBC) has recommended the authorities to take additional measures to stop massive under invoicing by commercial importers. In its proposals for the budget 2021/2022, the PBC […]
Massive rise in withholding tax rates proposed for non-filers
KARACHI: The concept of separate withholding tax rates for filers and non-filers was introduced as a measure for increasing documentation of the economy. However, no efforts were made to increase […]
Cut in tobacco tax under consideration
KARACHI: The government is considering to reduce the federal excise duty on cigarettes in order to discourage duty evasion and stop smuggling. Sources said that proposals had been invited from […]
Rs5000 banknote proposed to withdraw from circulation
KARACHI: A former chairman of Federal Board of Revenue (FBR) has recommended the government to stop the circulation of Rs5000 banknote and phase out in circulation the banknote within one […]