Karachi Tax Bar Association (KTBA) has proposed significant amendments to the existing laws concerning tax recoveries through the freezing of bank accounts.
(more…)Tag: budget proposals
-
KTBA Opposes Income Tax Deduction on Gross Salary
Karachi, June 1, 2023 – The Karachi Tax Bar Association (KTBA) has expressed its opposition to taxing salary income based on the gross amount.
(more…) -
Pakistan Considers Restricting Cash Transactions Above Rs. 10,000 at Retail Outlets
In an effort to promote the documentation of the economy, the government of Pakistan is contemplating imposing restrictions on cash transactions exceeding Rs. 10,000 at retail outlets.
(more…) -
Commission Recommends Amendments to Taxation on Prizes and Winnings
In a significant move, a high powered tax commission has put forth a series of recommendations aimed at amending the taxation on prizes and winnings.
(more…) -
Karachi Tax Bar Association Proposes Amendments to Ease Tax Challan Issuance
Karachi Tax Bar Association (KTBA) has proposed amendments to ease in tax challane issuance while raising concerns over the difficulties faced by taxpayers in obtaining copies of challans from withholding agents.
(more…) -
KTBA Suggests Abolishing Tax on Deemed Income
Karachi Tax Bar Association (KTBA) has made a compelling case for the government to abolish the tax on deemed income by proposing an amendment to the Finance Bill 2023.
(more…) -
Tax Reform Commission Recommends Measures to Counter Petroleum Smuggling
The Reform and Revenue Mobilization Commission (RRMC) has proposed the implementation of a marking and monitoring system in the petroleum sector to combat the rampant smuggling of petroleum products in Pakistan.
(more…) -
PSX Proposes Investment and Saving Accounts Scheme to Spur Economic Growth
The Pakistan Stock Exchange (PSX) has recommended to the government the introduction of an investment and saving accounts scheme as part of its proposals for the 2023-2024 budget.
(more…) -
Pakistan May Impose High Tax Rates on Non-Filer Religious Travelers
Pakistan is reviewing a proposal to impose significantly higher tax rates on non-filer religious travelers as part of its efforts to bring undocumented money into the formal economy.
(more…) -
Pakistan Urged to Intensify Taxation on Tobacco Industry
As Pakistan prepares for the federal budget of 2023-2024, advisory firm Adam Smith International, under its REMIT (Revenue, Mobilization, Investment, and Trade) project, has recommended further taxation on the tobacco industry.
(more…)