Manufacturers demand domestic supplies against FE should be treated as exports

KARACHI: Manufacturers have urged the government to treat goods booked abroad on which foreign exchange (FE) has been transferred should be treated as export. Federation of Pakistan Chambers of Commerce and Industry... Read more »

New slab for withholding tax on motor vehicle purchase recommended

KARACHI: Regional Tax Office (RTO) – II Karachi has recommended revision in slab for withholding tax collection on purchase of new motor vehicles from next fiscal year. The RTO-II Karachi in its... Read more »

Sindh urged to bring down sales tax rate at 10 percent

KARACHI: Sindh Revenue Board (SRB) has been suggested to bring down sales tax on services rate to 10 percent from existing 13 percent to encourage registration of more taxpayers. Overseas Investors Chambers... Read more »

Federal, provincial tax conflict hampers FDI

KARACHI: Foreign investors have said that duplication of taxes due to lack of coordination between federal and provincial tax authorities are hampering foreign direct investment (FDI) into Pakistan. The Overseas Investors Chamber... Read more »

Adjustable advance income tax recommended on sale of agri produce

KARACHI: The tax authorities have been recommended to collect adjustable advance income tax on sale of agriculture produce in order to broaden tax base. Overseas Investors Chamber of Commerce and Industry (OICCI)... Read more »

Changes to CNIC condition likely in budget

ISLAMABAD: Federal Board of Revenue (FBR) may introduce changes to mandatory CNIC (Computerized National Identity Card) condition in the upcoming budget 2020/2021 in to facilitate registered taxpayers. At present unregistered purchasers, excluding... Read more »

FBR suggested simplification of valuation for imported vehicles

KARACHI: Federal Board of Revenue (FBR) has been advised to simplify valuation and levy of duty and taxes on imported vehicles. Officials in FBR said that in budget proposals received for 2020/2021,... Read more »

Tax credit for final, minimum regimes may be withdrawn

ISLAMABAD: The tax authorities may withdraw tax credit available to taxpayers falling in final and minimum tax regimes, sources in Federal Board of Revenue (FBR) said. The sources said that the Large... Read more »

FBR advised to allow examination before filing GDs

KARACHI: Federal Board of Revenue (FBR) has been advised to allow examination/ weighment should be allowed before filing goods declaration (GDs) in order to verify contents of containers. Federation of Pakistan Chambers... Read more »

FPCCI demands elimination of discretionary powers of tax officials

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded withdrawal of discretionary powers of tax officials including multiple selection of audit and entering business premises. Mian Anjum Nisar, President... Read more »