PM Shehbaz assures favorable measures on CNIC requirement

Jun 9

PM Shehbaz assures favorable measures on CNIC requirement

KARACHI: Prime Minister Shehbaz Sharif has assured business community of taking favorable measures related to CNIC requirement will be taken in the budget 2022-2023. A high-level delegation of the Karachi Chamber of Commerce and Industry (KCCI) led by Chairman Businessmen Group (BMG) Zubair Motiwala held meetings with Prime Minister Shehbaz Sharif and Federal Minister for […]

by Hamza Shah

KCCI appeals rescuing small traders in Catch-22 situation

Jun 4

Trade & Industry

KCCI appeals rescuing small traders in Catch-22 situation

Karachi Chamber of Commerce and Industry (KCCI) on Saturday declared Catch-22 situation and urged the government to rescue small traders from its fallout. Chairman Businessmen Group Zubair Motiwala and President KCCI Muhammad Idrees, while referring to upsurge in petroleum prices by Rs60 within a week along with exorbitant hike of Rs7.91 in electricity base tariff […]

by Hamza Shah

Income tax audit should be once in three years

May 30

Budget 2022-2023

Income tax audit should be once in three years

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has suggested the authorities to conduct income tax audit once in three years. The KCCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) stated that through Finance Act 2019 powers of Commissioners Inland Revenue and the FBR have been restored to […]

by Hamza Shah

Cut in duty, taxes on tea import suggested to stop smuggling

May 30

Budget 2022-2023

Cut in duty, taxes on tea import suggested to stop smuggling

KARACHI: The Federal Board of Revenue (FBR) has been suggested a drastic cut in duty and taxes on import of black to stop smuggling and increase revenue. The Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2022/2023 submitted to the FBR said that consumption of black tea in Pakistan is 240,000 […]

by Hamza Shah

KCCI proposes sales tax exemption to solar panels, inverters

May 28

Budget 2022-2023

KCCI proposes sales tax exemption to solar panels, inverters

Karachi Chamber of Commerce and Industry (KCCI) has proposed restoration of sales tax exemption on supply of solar panels and inverters. The KCCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR), stated that solar panels and inverters were earlier granted zero rated of sales tax. READ MORE: FBR suggested […]

by Hamza Shah

FBR suggested automatic GD filing extension on system failure

May 27

Budget 2022-2023

FBR suggested automatic GD filing extension on system failure

KARACHI: The Federal Board of Revenue (FBR) has been urged to allow automatic extension for filing Goods Declaration (GDs) where traders unable to file due to system glitches. Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2022/2023 informed the FBR that due to malfunctioning of the online filing system, Importers are […]

by Hamza Shah

KCCI proposes sales tax exemption to e-commerce

May 24

Budget 2022-2023

KCCI proposes sales tax exemption to e-commerce

Karachi Chamber of Commerce and Industry (KCCI) has proposed sales tax exemption to e-commerce retailers to promote online business transactions in the country. The KCCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) said that through Clause 3(1)(c) a new Clause (18A) under Section 2 whereby a definition of […]

by Hamza Shah

Withholding tax on raw material import should be adjustable

May 16

Budget 2022-2023

Withholding tax on raw material import should be adjustable

KARACHI: The Federal Board of Revenue (FBR) has been suggested to allow adjustment of withholding income tax collected at import of raw material against the actual liability. Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2022/2023 submitted to the FBR highlighted that by amendment to Section 148 of Income Tax Ordinance, […]

by Faisal Shah

KCCI suggests VAT removal for commercial importers

May 13

Budget 2022-2023

KCCI suggests VAT removal for commercial importers

Karachi Chamber of Commerce and Industry (KCCI) has suggested the tax authorities to withdraw Value Added Tax (VAT) imposed on commercial importers in order to rectify anomaly in the law. The KCCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) said that a three per cent value addition sales […]

by Hamza Shah

May 12

Trade & Industry

BMG chairman urges end to political war

KARACHI: The chairman of Businessmen Group (BMG), Zubair Motiwala, on Wednesday urged the political parties to end ongoing political war for sake of the country. He expressed deep concerns over the ongoing and never-ending political brawl in the country, cautioned that this tussle has created a disastrous situation for Pakistan’s economy which was already in […]

by Faisal Shah