Immunity from audit against CNIC condition demanded

KARACHI: The business community has demanded the Federal Board of Revenue (FBR) to give immunity from audit against CNIC condition for tax year 2020. In its budget proposals for fiscal year 2020/2021,... Read more »

FBR proposed to review regulatory duty regime to promote domestic industry

KARACHI: Business community has urged the Federal Board of Revenue (FBR) to review existing regulatory duty regime in order to promote domestic industry. Pakistan Business Council (PBC) in its budget proposals 2020/2021... Read more »

Revival of sales tax zero rating suggested to ease liquidity problem

KARACHI: Business community has recommended revival of zero rated sales tax for the export sector in the wake of difficulties faced following COVID-19. Pakistan Business Council (PBC) has suggested sales tax proposals... Read more »

Minimum tax collection should be suspended for two years

KARACHI: Pakistan Business Council (PBC) has recommended suspending minimum tax under Section 113 of Income Tax Ordinance, 2001 considering the pandemic of COVID-19 and its impact on businesses. The PBC in its... Read more »

Introduction of registered savings, investment accounts proposed

KARACHI: Pakistan Stock Exchange (PSX) has proposed introduction of registered savings and investment accounts (RSIAs) in the upcoming budget 2020/2021. In its budget proposals for the fiscal year 2020/2021, the PSX said... Read more »

PSX proposes abolishing capital gains tax for two years

KARACHI: Pakistan Stock Exchange (PSX) has demanded eliminating Capital Gains Tax (CGT) for up to next two years in order to attract more foreign investment. The PSX in its tax proposals for... Read more »

SECP highlights difficulties in present tax regime

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has highlighted difficulties faced by corporate sector due to prevailing tax regime. The SECP chairman called upon the chairperson of Federal Board of Revenue... Read more »

Tax relief package to mitigate COVID-19 shocks under consideration, FBR tells KCCI

KARACHI: A top official of Federal Board of Revenue (FBR) has informed the office bearers of Karachi Chamber of Commerce and Industry (KCCI) that a tax relief package for business community was... Read more »

Why non-filers happy in paying high withholding tax rates, FPCCI asks FBR

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over lower number of return filers and asked Federal Board of Revenue (FBR) to identify reasons that why non-filers... Read more »

FBR invites suggestions for phasing out tax exemption, concessions

ISLAMABAD: Federal Board of Revenue (FBR) has invited suggestions from business community and other stakeholders for elimination of tax exemption and concessions. Read more »