Foreign investors express concern over high turnover tax

KARACHI: Foreign investors have expressed concerns over high rate of turnover tax rate, especially for those sectors where margins are very low. Overseas Investors’ Chamber of Commerce and Industry (OICCI) expressed this... Read more »

OICCI members pay one third of total tax collection

KARACHI: The foreign investors operating in Pakistan and multinational companies (MNCs) have contributed around 1/3rd of the total tax collection by Federal Board of Revenue (FBR) during fiscal year 2019/2020. The representative... Read more »

Foreign investors express satisfaction on security environment

KARACHI: The foreign investors operating in Pakistan have showed satisfaction over security environment especially after quick response of law enforcement agency against failed terror attack on Pakistan Stock Exchange (PSX). “The smooth... Read more »

Haroon Rashid elected as President OICCI

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has elected Haroon Rashid as president of the chamber with effect from July 01, 2020. His appointment came following a successful tenure of... Read more »

Exemption from withholding tax on foreign remittances may not practical for banks

KARACHI: The government has granted withholding tax exemption on transfer of foreign remittances to Pak Rupee accounts. But tax experts said that bifurcating transactions for banks may not be practical. Overseas Investors... Read more »

Restoration of multiple years audit to burden taxpayers

KARACHI: Business community has criticized the government for eliminating condition of conducting audit once in three-year period. Overseas Investors Chamber of Commerce and Industry (OICCI) highlighted anomalies in the Finance Bill 2020,... Read more »

Foreign investors express concerns on proposed rates for imported raw materials

KARACHI: Foreign investors have raised concerns over the proposed tax rates on import of raw materials. Overseas Chamber of Commerce and Industry (OICCI), which is represented of foreign investors and multinational companies... Read more »

OICCI suggests eliminating Sindh infrastructure cess

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the Sindh government to withdraw infrastructure cess for easing cost of doing business. In its proposals for provincial budget 2020/2021, the... Read more »

SRB urged to allow normal tax for car dealers

KARACHI: Sindh Revenue Board (SRB) has been urged to bring authorized dealers of car manufacturers into normal tax regime. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget... Read more »

Insurance should be excluded from taxable services

KARACHI: The provincial tax authorities have been urged to exclude insurance from taxable services in order to provide incentives to insurance industry. Overseas Investors Chamber of Commerce and Industry (OICCI) in its... Read more »