Tax system not to improve without documentation of economy: Hafeez Shaikh

KARACHI: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance and Revenue, on Saturday said that taxation system will not be improved without documentation of economy. Read more »

Overseas investors spend Rs5.5bn for CSR activities

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) member companies spent Rs 5.5 billion during 2018-2019 and directly benefited 5.8 million people across Pakistan as part of its Corporate Social... Read more »

Reforms showing improvement in economy: SBP governor

KARACHI: The reforms to address the macroeconomic challenges faced by the economy are now beginning to bear fruit and improvement in the external sector has become visible, said Dr. Reza Baqir, Governor,... Read more »

Foreign investors’ perception over security environment further improves

KARACHI: The foreign investors have expressed satisfaction over improved security environment in Pakistan, according to a report released by Overseas Investors Chamber of Commerce and Industry (OICCI) on Tuesday. Read more »

FBR urged to reduce withholding tax for FMCG distributors

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce withholding tax rate to 0.2 percent for distributors of Fast Moving Consumer Goods (FMCG) companies as higher rate is increasing the... Read more »

FBR suggested abolishing regulatory duty on import of phrma raw materials

KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish regulatory duty and reduce customs duty on import of raw materials by pharmaceutical industry. Read more »

Ban foreign cigarettes without health warnings: OICCI

KARACHI: The government has been advised to ban import of cigarettes without health warnings in order to discourage smuggling. Read more »

Reduction in corporate tax for E&P companies recommended to attract foreign investment

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce corporate tax rate for exploration and production companies in order attract foreign investment in this sector and generate more revenue for... Read more »

New tax legislation sought for Islamic banking

KARACHI: Federal Board of Revenue (FBR) has been suggested to draft new legislation for taxation of Islamic banking. Read more »

Demonetizing high denomination currency notes recommended to eliminate avenues for untaxed funds

KARACHI: The foreign investors and multinational companies have suggested the government to demonetize high denomination currency notes to eliminate parking lots for untaxed funds. Read more »

Amnesty schemes culture should be eliminated: OICCI

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the government to eliminate culture of amnesty schemes as such measures encourage tax evaders. Read more »

FBR restructuring proposed to make autonomous body

KARACHI: The government has been proposed to make Federal Board of Revenue (FBR) as an autonomous body on similar line as State Bank of Pakistan. Read more »