Karachi, January 2, 2025 – The Sindh Revenue Board (SRB) has invited stakeholders to submit tax proposals for the upcoming Budget 2025-26, signaling its commitment to fostering a collaborative approach to fiscal planning. The SRB aims to incorporate the suggestions of taxpayers and industry representatives into the final budget to ensure a balanced and effective taxation framework.
(more…)Tag: budget proposals
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REAP Suggests Hassle-Free Tax Payment System
PkRevenue.com – The Rice Exporters Association of Pakistan (REAP) has called on the government to implement a one-window tax system for exports to simplify tax payments and aid exporters.
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ICAP Suggests Tax Exemption on Annual Salary up to Rs 1 Million
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has put forth a significant proposal for the upcoming budget of 2024-25, suggesting an increase in the income threshold for tax exemption on salaries.
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FPCCI Strongly Opposes Section 7E, Demands Deletion in Budget
PkRevenue.com – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has vehemently criticized the deemed income tax imposed under Section 7E of the Income Tax Ordinance, 2001, and called for its removal in the upcoming 2024-25 budget.
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FPCCI Proposes Elimination of CVT on Foreign Assets
PkRevenue.com – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has put forth a significant proposal advocating for the elimination of the Capital Value Tax (CVT) on foreign assets of residents in the upcoming budget for 2024-25.
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FPCCI Demands SRO 350 Withdrawal to Ease Compliance Costs
PkRevenue.com — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called on tax authorities to withdraw SRO 350(I)/2024, citing increased compliance costs and bureaucratic hurdles for registered taxpayers.
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FPCCI Advocates Revoking Section 8B of Sales Tax Act
PkRevenue.com — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for the revocation of Section 8B of the Sales Tax Act, 1990 in the forthcoming budget for the fiscal year 2024-25.
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FPCCI Calls for Abolishment of Further Tax in 2024-25 Budget
PkRevenue.com – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the elimination of the further tax in the forthcoming 2024-25 budget, aiming to alleviate the burden on the business community.
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Proposals for Significant Salary Hikes in 2024-25 Budget
As the federal government expedites the finalization of the 2024-25 budget, significant changes are on the horizon for the public sector workforce. According to reports, the Finance Minister has proposed a substantial 15-20% salary increase, reflecting a broader strategy to enhance compensation across various grades.
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ICAP Urges Removal of Glitches in Business Bank Account
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has called on tax authorities to address the existing glitches in the process of adding or amending business bank accounts.
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