The Revenue and Reform Mobilization Commission (RRMC) has proposed a simplified sales tax return system to bolster compliance among taxpayers.
(more…)Tag: budget proposals
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Pakistan Urged to Implement Urgent Measures to Stem Foreign Currency Outflow
In a bid to address the escalating issue of illegal transfer of foreign currencies outside Pakistan, the Pakistan Hotels Association has submitted proposals for the budget of 2023-2024.
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Karachi Tax Bar Association Proposes Sales Tax Relief for Non-Profit Organizations
The Karachi Tax Bar Association (KTBA) has presented a tax proposal aimed at providing relief to charitable and non-profit organizations engaged in charitable activities.
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KTBA Raises Concerns Over Undescribed Timelines under Sales Tax Law
The Karachi Tax Bar Association (KTBA) has recently highlighted the issue of undescribed timelines under the Sales Tax Law in Pakistan.
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FPCCI Proposes Dollar Amnesty Scheme to End Exchange Rate Volatility
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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Foreign Investors Warn Pakistan of Negative Impact on Formal Sector with New Taxes
Islamabad: Foreign investors have advised Pakistan to refrain from introducing new taxes in the forthcoming budget for 2023-24, expressing concerns over the potential negative impact on the country’s formal business sector.
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Anticipated Tax Measures in the Federal Budget 2023-24
The upcoming federal budget for 2023-24 is expected to include a range of tax measures aimed at achieving a tax revenue target of Rs9-9.2 trillion.
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Pakistan Budget 2023-2024: Navigating Challenges and Striving for Economic Stability
The Pakistan Budget for the fiscal year 2023-2024 faces significant challenges due to stagflation, uncertainties surrounding the upcoming elections, and the country’s external account funding gap.
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PAFLA Calls for Removal of Tax Burden on Freelancers
Pakistan Freelancers Association (PAFLA) has submitted a budget proposal to the government, calling for the abolition of taxes on freelancers’ income to support Pakistan’s booming freelancing industry and encourage foreign exchange earnings.
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Auto Assemblers Reject Proposed Withholding Tax on Invoice Prices
Karachi, June 3, 2023 – Local auto assemblers have strongly opposed a budget proposal for the fiscal year 2023-24 that suggests levying the Withholding Tax (WHT) based on invoice prices of motor vehicles instead of engine capacity. Industry representatives argue that this change could further distress an already struggling auto sector, leading to a decline in sales.
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