PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the tax authorities implement real-time reporting of property transactions.
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ICAP Suggests Reactivation of BTB Directorate
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has recommended that the tax authorities reactivate the Directorate of Broadening of Tax Base (BTB) to enhance the country’s tax revenue.
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Sales Tax Rate May Be Enhanced to 19% in 2024-25 Budget
PkRevenue.com – The government is contemplating a significant adjustment to the sales tax rate, potentially increasing it to 19% from the current 18% in the upcoming 2024-25 budget.
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SECP Proposes Reduction in Dividend Tax in 2024-25 Budget
PkRevenue.com — In a significant move aimed at fostering a more equitable tax regime and encouraging corporatization, the Securities and Exchange Commission of Pakistan (SECP) has proposed a reduction in the tax on dividend income to 10 percent in the upcoming budget for 2024-25.
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PBC Opposes Withholding Tax on Bonus Shares
PkRevenue.com – The Pakistan Business Council (PBC) has voiced strong opposition to the imposition of a withholding tax on bonus shares issued by companies.
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FBR Considers Complete Overhaul of Tax on Property Transactions
PkRevenue.com – The Federal Board of Revenue (FBR) is contemplating a comprehensive overhaul of the taxation system related to property transactions.
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KCCI Demands Uniform WHT Rate for Importers, Manufacturers
PkRevenue.com – The Karachi Chamber of Commerce and Industry (KCCI) has called on authorities to implement a uniform withholding tax (WHT) rate for both commercial importers and manufacturers in the upcoming budget for 2024-25.
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SECP Advocates for Income Tax Credit for Insurance Products
PkRevenue.com – The Securities and Exchange Commission of Pakistan (SECP) has put forward a proposal for the upcoming 2024-25 budget, advocating for the introduction of income tax credits for individuals purchasing insurance products.
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Tax Managers Propose Removal of E&P Depletion Allowance
PkRevenue.com – The tax managers of Federal Board of Revenue (FBR) have recommended a significant policy change that could impact the Exploration and Production (E&P) sector.
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FBR Suggests 100% Increase in Tax on Bonus Shares for Non-ATL
PkRevenue.com – The Federal Board of Revenue (FBR) has proposed a 100 percent increase in tax on bonus shares for individuals who are not listed on the Active Taxpayers List (ATL). The tax managers at the FBR have recommended amendments to the Income Tax Ordinance, 2001, to be implemented in the forthcoming budget for 2024-25.
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