KARACHI: The Federal Board of Revenue (FBR) has been urged to made mandatory the filing of income tax return for account holders having turnover Rs2 million or above during a year. Overseas Investors Chamber of Commerce and Industry (OICCI) in its recommendations for budget 2022/2023, advised that FBR and State Bank of Pakistan (SBP) should […]

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has highlighted the issue of unjustified audit notices served to taxpayers and said as a result companies are incurring huge administrative costs. The OICCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) pointed out that each year companies are served […]

The Overseas Investors Chamber of Commerce and Industry (OICCI), representing foreign investors in Pakistan, has put forth a series of demands to the Federal Board of Revenue (FBR), with a key focus on the inter-adjustment of income and sales tax refunds as part of the law.

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has presented recommendations to eliminate illicit trade in Pakistan. In its proposals for budget 2022/2023 presented to the Federal Board of Revenue (FBR), the OICCI stressed the need of structural reforms in Pakistan customs to bring Illicit Trade into tax ambit. READ MORE: OICCI urges harmonize […]

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has urged the tax authorities to harmonize sales tax rates. The OICCI in its proposals for budget 2022/2022 submitted to the Federal Board of Revenue (FBR) demanded reduction in sales tax rates. The sales tax rate in Pakistan, at 17 per cent, is the highest in […]

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the tax authorities to simplify issuance of exemption certificate in order to facilitate taxpayers. It its proposals for budget 2022/2023, the OICCI suggested the Federal Board of Revenue (FBR) to simplify the procedure of exemption certificate issuance. READ MORE: OICCI suggests revamping withholding tax […]

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has suggested the authorities to revamp withholding tax regime in order to facilitate compliant taxpayers. The OICCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR) recommended revamping of withholding tax regime, which is one of the key irritants for compliant […]

KARACHI: Federal Board of Revenue (FBR) has been proposed to reduce the general rate of minimum tax to 0.25 per cent. The Overseas Investor Chamber of Commerce and Industry (OICCI) in its proposals for budget 2022/2023 advised the FBR to review minimum tax regime (MTR) / abolish alternative corporate tax (ACT) under Section 113 and […]