Federal Minister for Finance Senator Muhammad Aurangzeb disclosed to the National Assembly on Thursday that there are no plans for new legislation to extend tax and duty exemptions for the erstwhile Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) regions.
(more…)Tag: budget proposals
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Business Community Calls for Repeal of Section 7E
Amidst preparations for the upcoming budget 2024-25, the business community in Pakistan, represented by the Karachi Chamber of Commerce and Industry (KCCI), is vehemently urging the government to abolish Section 7E of the Income Tax Ordinance, 2001.
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KCCI Pushes for Tax Procedure Simplification in Budget 2024-25
Karachi Chamber of Commerce and Industry (KCCI) has mounted pressure on the government for the simplification of tax procedures in the upcoming budget for the fiscal year 2024-25.
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OICCI Proposes Revamping Telecom Sector WHT Regime
The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forward a comprehensive proposal aimed at revamping the withholding tax (WHT) regime for the telecom sector in Pakistan, as part of its recommendations for the upcoming budget 2024-25.
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OICCI Advocates for Regulatory Duties on Used Car Imports
The Overseas Investors Chamber of Commerce and Industry (OICCI) has put forward a proposal urging the reinstatement of regulatory duty (RD) and additional customs duty (ADD) on the import of used cars.
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Salaried Class Bears Excessive Tax Burden in Pakistan: OICCI
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.
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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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