The Institute of Chartered Accountants of Pakistan (ICAP) has put forward a strong recommendation to impose penalties on individuals and entities known as stop-filers of income tax returns.
(more…)Tag: budget proposals
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ICAP Proposes Direct Refund Credit for Salaried Persons
PkRevenue.com – The Institute of Chartered Accountants of Pakistan (ICAP) has recommended that tax authorities facilitate direct refunds to the bank accounts of salaried individuals.
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ICAP Recommends Real-Time Monitoring of Property Transactions
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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