Tag: Overseas Investors Chamber of Commerce and Industry
Foreign investors praise State Bank for facilitating remittances
KARACHI: Foreign investors operating in the country have appreciated the significant improvement in the foreign exchange remittance processing time and in growing engagement of the State Bank of Pakistan (SBP) […]
Foreign investors call for strong protection of intellectual property rights
KARACHI: Foreign investors from the platform of Overseas Chamber of Commerce and Industry (OICCI) have demanded strong protection of intellectual property rights in Pakistan for encouraging innovation and creativity in […]
FBR advised to simplify withholding tax regime on imports
KARACHI: Federal Board of Revenue (FBR) has been urged to simplify the withholding tax regime on imported goods under Section 148 of the Income Tax Ordinance, 2001. Overseas Investors Chamber […]
FBR urged to revise slabs for advance tax collection on motor cars
KARACHI: Federal Board of Revenue (FBR) has been urged to revise slabs of engine capacity of motor cars to give benefit to buyers in payment of withholding tax. Overseas Investors […]
FBR recommended to reduce minimum tax for chemical companies
KARACHI: Federal Board of Revenue (FBR) has been urged to reduce minimum tax rate for chemical companies having large turnover with low profit margins. Overseas Investors Chamber of Commerce and […]
Normal corporate tax rate for banking sector recommended
KARACHI: Foreign investors have recommended that corporate tax rates for the banking sector should be aligned with other sectors. At present the banking sector is paying 35 percent corporate tax […]
Abolishing withholding tax, reducing sales tax rate on telecom services recommended
KARACHI: Federal Board of Revenue (FBR) has been urged to abolish withholding tax rate at 12 percent on telecom services to promote the accessibility of internet/data services to the low-income […]
Foreign investors demand pending refunds payment in six months
KARACHI: Foreign investors operating in Pakistan have demanded to clear all pending sales tax refunds in next six months. Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body […]
Listed companies should be exempted from electronic tax surveillance
KARACHI: Federal Board of Revenue (FBR) has been urged to exempt listed companies from electronic surveillance of business and records. Overseas Investors Chamber of Commerce and Industry (OICCI) in its […]
Bank account holders should file tax returns, wealth statements
KARACHI: Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) should devise a framework to ensure all customers of financial institutions whose account show turnover above Rs2 million […]