Chemical merchants advocate FTR continuation for commercial importers

KARACHI: Chemical merchants have strongly advocated continuation of Final Tax Regime (FTR) for commercial importers in the upcoming budget. Read more »

Hafeez Shaikh discusses budget proposals with chambers of commerce and industries

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance and Revenue on Thursday met presidents of various chamber of commerce and industries to discuss proposals for budget 2019/2020. Read more »

ICAP proposes restricting powers of Directorate General Intelligence and Investigation

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has proposed restricting powers of Directorate General of Intelligence and Investigation (I&I) as multiple powers of tax authorities are causing hardship for taxpayers. Read more »

PTBA suggests reducing record retention time to five years under Sindh tax laws

KARACHI: Pakistan Tax Bar Association (PTBA) has submitted budget proposals 2019/2020 to Sindh Revenue Board (SRB) suggesting to reduce time limit for retaining records to 5 years from 10 years. Read more »

FBR urged to extend tax credit to investment in infrastructure

KARACHI: Federal Board of Revenue (FBR) has been urged to extend tax credit facility to investment in factory building and manufacturing related infrastructure. Read more »

FBR suggested reduced corporate tax rate for job creation

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce corporate tax rate by one percent for companies creating 50 or more new jobs in a year. Read more »

Ban foreign cigarettes without health warnings: OICCI

KARACHI: The government has been advised to ban import of cigarettes without health warnings in order to discourage smuggling. Read more »

PTBA suggests allowing further tax adjustment to suppliers

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended the Federal Board of Revenue (FBR) to allow adjustment of further tax against input tax. Read more »

Hafeez reviews proposals for budget 2019/2020

ISLAMABAD: Dr. Abdul Hafeez Shaikh chaired a meeting on Sunday to review the proposals for budget 2019/2020. Read more »

Reduction in corporate tax for E&P companies recommended to attract foreign investment

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce corporate tax rate for exploration and production companies in order attract foreign investment in this sector and generate more revenue for... Read more »

FBR advised to substantially reduce penalties on non-filing, late-filing of tax returns

KARACHI: Federal Board of Revenue (FBR) has been advised to substantially reduce penalties for non-filing or late filing of income tax returns and wealth statements. Read more »

Installing scanners at Pak-China borders suggested to prevent misuse clearance under CPEC

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has suggested to install scanners at Pak-China borders to stop misuse customs clearance of goods transported under China – Pakistan Economic Corridor(CPEC). Read more »