Tag: budget proposals

Taxation

PTBA proposes withdrawal of restriction on input claim under Sindh sales tax

— June 10, 2019 add comment
KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Sindh government to withdraw the restriction on claiming input tax by services rendered by a taxpayer. Read more »
Finance

Proposals for budget 2019/2020 finalized; salary persons may get increase; rise in additional customs duty likely

— June 9, 2019 add comment
ISLAMABAD: The ministry of finance has finalized proposals for budget 2019/2020 and will get approval from the Cabinet before presenting in the Parliament on June 11, 2019. Read more »
2019-2020

Profit on banking deposits: High tax rate planned for non-filers in budget 2019/2020

— June 9, 2019 add comment
ISLAMABAD: A sharp increase in withholding tax rate (may be up to 30 percent) on profit on banking deposits has been planned for non-filers in order to make it almost impossible to... Read more »
2019-2020

Massive cut in tax exemptions, concessions likely in budget 2019/2020

— June 9, 2019 add comment
ISLAMABAD: The government has planned to a massive cut tax in exemptions and concessions in the budget 2019/2020, which is scheduled to be announced on June 11, 2019. Read more »
2019-2020

PTBA advises revisiting arrest, prosecution law under sales tax

— June 7, 2019 add comment
KARACHI: Pakistan Tax Bar Association (PTBA) has advised the Federal Board of Revenue (FBR) to revisit law related to arrest and prosecution under Sales Tax Act, 1990. Read more »
2019-2020

FBR urged to reduce withholding tax for FMCG distributors

— June 7, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been urged to reduce withholding tax rate to 0.2 percent for distributors of Fast Moving Consumer Goods (FMCG) companies as higher rate is increasing the... Read more »
2019-2020

Super tax application may be amended to generate around Rs2 billion

— June 5, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) may recommend amending application of super tax in the forthcoming budget 2019/2020 to generate around Rs2 billion. Read more »
2019-2020

FBR urged to allow one sales tax registration for multiple businesses

— June 5, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been urged to allow multiple businesses on one sales tax registration for better documentation of the economy. Read more »
2019-2020

FBR advised to stop issuing revision in sales tax rates on petroleum products

— June 4, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been advised to stop practice of issuing revision in sales tax on petroleum products on monthly basis. Read more »
2019-2020

FBR suggested relaxing exports restriction to Afghanistan

— June 2, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been advised to relax export conditions to Afghanistan in order to improve exports and inflows of foreign exchange. Read more »
2019-2020

FBR suggested abolishing regulatory duty on import of phrma raw materials

— June 2, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish regulatory duty and reduce customs duty on import of raw materials by pharmaceutical industry. Read more »
2019-2020

FBR advised to allow tax adjustment on telecom services

— June 2, 2019 add comment
KARACHI: Federal Board of Revenue (FBR) has been urged to allow adjustment of withholding tax on services provided telecom sector. Read more »