May 12, 2024

Pkrevenue.com

Pakistan Revenue

Tag: OICCI

Withholding sales tax should be exempted on services rendered to registered persons
May 27
Budget 2020-2021, Taxation

Withholding sales tax should be exempted on services rendered to registered persons

KARACHI: Sindh Revenue Board (SRB) has been proposed to exempt sales tax withholding in case a registered person renders services to another registered person. Withholding of sales tax from registered sales tax persons with Sindh Revenue Board (SRB), does not provide any benefit and only creates hardships for genuine taxpayers of reconciliations and delay in […]

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Reverse charge should only be levied on service providers located outside Pakistan
May 26
Budget 2020-2021, Taxation

Reverse charge should only be levied on service providers located outside Pakistan

KARACHI: Sindh Revenue Board (SRB) has been advised that reverse charge should be restricted to such cases where service providers are located outside Pakistan. Overseas Investors Chamber of Commerce and Industry (OICCI) in its budget proposals for 2020/2021 submitted to SRB said that all provincial statues provide that service provided by non-resident service provider is […]

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Federal, provincial tax conflict hampers FDI
May 25
Budget 2020-2021, Taxation

Federal, provincial tax conflict hampers FDI

KARACHI: Foreign investors have said that duplication of taxes due to lack of coordination between federal and provincial tax authorities are hampering foreign direct investment (FDI) into Pakistan. The Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors in Pakistan, said that duplicate taxation is causing hardships to taxpayers and […]

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Adjustable advance income tax recommended on sale of agri produce
May 25
Budget 2020-2021, Taxation

Adjustable advance income tax recommended on sale of agri produce

KARACHI: The tax authorities have been recommended to collect adjustable advance income tax on sale of agriculture produce in order to broaden tax base. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for provincial budget 2020/2021 submitted to Sindh government, recommended that adjustable withholding tax should be introduced on sale of agricultural […]

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OICCI lauds SECP for improving regulatory environment
May 18
Trade & Industry

OICCI lauds SECP for improving regulatory environment

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has praised Securities and Exchange Commission of Pakistan (SECP) for improving regulatory environment for registered entities. In a statement on Monday the OICCI felicitated the SECP on the Companies (Amendment) Ordinance, 2020 promulgated on April 30th. The Chamber, along with other leading business association, has […]

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FBR urged to abolish withholding tax on telecom services
May 14
Budget 2020-2021, IT & Telecom

FBR urged to abolish withholding tax on telecom services

KARACHI: Federal Board of Revenue (FBR) has been recommended to abolish withholding tax on telecom services considering the rate is too high and a large segment of people living below poverty line. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021 said that currently, telecommunication services in Pakistan are subject […]

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