SRB invites proposals for budget 2023-2024

Dec 13

Taxation

SRB invites proposals for budget 2023-2024

KARACHI: Sindh Revenue Board (SRB) has invited proposals for budget 2023-2024 and advised stakeholders to send their recommendations by January 27, 2023. In a notification issued on Tuesday, the SRB said that it had invited proposals in relation to the Sindh Sales Tax on Services Act, 2011 and the Rules and Notifications issued thereunder. The […]

by Faisal Shah

Pakistan may increase normal sales tax rate to 18%

Jun 9

Budget 2022-2023, Taxation

Pakistan may increase normal sales tax rate to 18%

Pakistan is likely to increase sales tax rate to 18 per cent in the federal budget 2022-2023, which is scheduled on June 10, 2022. The existing normal sales tax rate is 17 per cent. According to Budget Preview 2022/2023 issued on Thursday, analysts at Arif Habib Limited said the government is considering to raise an […]

by Hamza Shah

PM Shehbaz assures favorable measures on CNIC requirement

Jun 9

Budget 2022-2023, Trade & Industry

PM Shehbaz assures favorable measures on CNIC requirement

KARACHI: Prime Minister Shehbaz Sharif has assured business community of taking favorable measures related to CNIC requirement will be taken in the budget 2022-2023. A high-level delegation of the Karachi Chamber of Commerce and Industry (KCCI) led by Chairman Businessmen Group (BMG) Zubair Motiwala held meetings with Prime Minister Shehbaz Sharif and Federal Minister for […]

by Hamza Shah

Jun 7

Budget 2022-2023, Finance, Top stories

No increase in petroleum prices: Miftah

ISLAMABAD: Finance Minister Miftah Ismail on Tuesday strongly rejected the reports attributing him regarding increase in petroleum prices in Pakistan. “In the pre-budget seminar I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers. There will be no increase in prices today (June 7, 2022) and there […]

by Anjum Shah

Jun 5

Budget 2022-2023

Compliance cost much higher for corporatization: PSX

KARACHI: Pakistan Stock Exchange (PSX) has said that tax rates for compliance by corporate entities is much higher than the persons out of the tax net. The PSX in its proposals for budget 2022/2023 submitted to Federal Board of Revenue (FBR), said corporate business profits are taxed twice. Once at company level at 29 per […]

by Hamza Shah

FBR suggested reduction in tax rates for equity funds

Jun 5

Budget 2022-2023

FBR suggested reduction in tax rates for equity funds

KARACHI: The Federal Board of Revenue (FBR) has been suggested to reduce income tax rates for private equity funds in the upcoming budget 2022/2023. Pakistan Stock Exchange (PSX) in its proposals for budget 2022/2023, stated that Revamped regulations in 2015 introduced different types of Private Funds by replacing Private Equity and Venture Capital (PE&VC) Regulations. […]

by Hamza Shah

Jun 5

Budget 2022-2023

PSX proposes tax exemption on property transactions

KARACHI: Pakistan Stock Exchange (PSX) has proposed tax exemption on transactions of immovable properties to Real Estate Investment Trusts (REITs) in order to promote documentation. The PSX in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR), said REITS are an ideal instrument to document and help develop the real estate […]

by Hamza Shah

Jun 4

Budget 2022-2023

SMEs should be given tax credit to encourage listing

KARACHI: Pakistan Stock Exchange (PSX) has urged the tax authorities to allow tax credit to Small and Medium Enterprises (SMEs) to encourage listed on the stock exchange. The PSX in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR), said SMEs contribute immensely to Pakistan’s employment, export and GDP growth, and […]

by Hamza Shah

FBR urged to eliminate minimum tax for listed companies

Jun 3

Budget 2022-2023

FBR urged to eliminate minimum tax for listed companies

KARACHI: The Federal Board of Revenue (FBR) has been urged to eliminate minimum tax regime for listed companies in order to encourage documentation of economy. The PSX in its proposals for budget 2022/2023, submitted to the FBR stated that through the concept of minimum tax is prevalent in a few other countries, however, in other […]

by Hamza Shah

Jun 3

Budget 2022-2023

PSX proposes rationalizing tax rates for listed companies

KARACHI: Pakistan Stock Exchange (PSX) has proposed rationalizing tax rates for listed companies through incentives and credits, in order to encourage documentation of economy. The PSX in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) said that it is generally observed that when companies opt for a listing on a […]

by Faisal Shah