April 28, 2024

Pkrevenue.com

Pakistan Revenue

Tag: OICCI

Foreign investors express satisfaction on security environment
Jul 6
Trade & Industry

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 and professional handling of the brazen attack on Pakistan Stock Exchange on June 29, and restoring order within a very short time, is […]

by
Read More
Haroon Rashid elected as President OICCI
Jul 1
Trade & Industry

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 Shazad Dada, who resigned as the President of OICCI after resigning from Standard Chartered Bank and taking over as President of United Bank […]

by
Read More
Exemption from withholding tax on foreign remittances may not practical for banks
Jun 24
Budget 2020-2021

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 Chamber of Commerce and Industry (OICCI) said that currently withholding tax is applicable on certain banking transactions executed by the persons not appearing […]

by
Read More
Foreign investors express concerns on proposed rates for imported raw materials
Jun 23
Budget 2020-2021, Trade & Industry

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 in Pakistan, highlighted anomalies in the Finance Bill 2020 and proposed rectifications. The OICCI said that the reduction in rate of income tax […]

by
Read More
Insurance should be excluded from taxable services
May 28
Budget 2020-2021, Taxation

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 proposals for budget 2020/2021 submitted to Sindh Revenue Board (SRB), said that each year, the life/health insurance companies have been approaching the SRB […]

by
Read More
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 […]

by
Read More