Karachi, May 13, 2024 – Startling revelations by foreign investors operating in Pakistan have shed light on an alarming fiscal trend: the salaried class is shouldering a disproportionate tax burden, eclipsing the combined contributions of exporters and retailers.
(more…)Tag: budget proposals
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Foreign Investors Demand Elimination of Super Tax
Karachi, May 12, 2024 – Foreign investors operating in Pakistan have issued a fervent plea to authorities to eliminate the super tax as part of the budget for the fiscal year 2024-25.
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FBR Asked to Link WHT Collection with Property Tax
The Overseas Investors Chamber of Commerce and Industry (OICCI) has called upon the Federal Board of Revenue (FBR) to adopt a groundbreaking approach by linking the collection of withholding tax (WHT) with property tax revenues gathered by provincial authorities.
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OICCI Presents Novel Idea to Tax Register Retail Sector
Karachi, May 12, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forth an innovative approach to tackle the challenge of tax registration within the highly undocumented retail sector.
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Health Experts Propose Ambitious Tax Hike on Cigarettes
Health experts have put forward a compelling case for a substantial tax increase on cigarette sales as a means to deter tobacco use and promote public health.
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PBF Advocates Tax Reforms to Combat Under-Invoicing
The Pakistan Business Forum (PBF) has put forth a comprehensive set of proposals urging tax authorities to undertake significant reforms aimed at curbing under-invoicing by commercial importers and fostering industrial growth.
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PBC Proposes 24% Tax on Motor Vehicle Purchases by Non-Filers
The Pakistan Business Council (PBC) has put forth a bold proposal for the upcoming budget of 2024-25, recommending a significant increase in advance tax rates on motor vehicle purchases by non-filers of income tax returns.
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FBR Receives Proposals to Clamp Down Benami Car Purchases
KARACHI, May 9, 2024 – The Federal Board of Revenue (FBR) is considering new measures for the 2024-25 budget to combat benami (anonymous) transactions in the automobile sector and to enhance tax collection across various sectors.
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Proposal to Lift Import Tax for Manufacturers in Budget 2024-25
The business community has recently put forth a significant proposal for budget 2024-25 aimed at boosting efficiency of manufacturers within Pakistan.
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Pakistan Business Council Seeks Clarity on Group Taxation
Karachi, May 6, 2024 – The Pakistan Business Council (PBC), a leading advocacy group representing major businesses in the country, has submitted proposals for the upcoming budget 2024-25. A key area of focus for the PBC is seeking amendments to the existing group taxation regulations to provide clarity and relief regarding inter-corporate dividends (ICD).
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