Pakistan Revenue
KARACHI: Federal Board of Revenue (FBR) has been suggested to draft new legislation for taxation of Islamic banking. It is proposed that the audited financial statements of Islamic banks as well as those of Islamic Banking branches/windows operations of conventional banks provided separately in the audited financial statements of conventional banks submitted to the State […]
Continue Reading
KARACHI: The foreign investors and multinational companies have suggested the government to demonetize high denomination currency notes to eliminate parking lots for untaxed funds. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 suggested measures to eliminate legally permissible ‘parking lots’ for untaxed funds. The OICCI – representative […]
Continue Reading
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.
Continue Reading
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. The Overseas Chamber of Commerce and Industry (OICCI) in its budget proposals for 2019/2020 suggested restructuring of FBR as an independent governing body. It suggested that FBR should be made […]
Continue Reading
KARACHI: Federal Board of Revenue (FBR) has been advised to reduce income tax rates for banking companies in line with general corporate tax rates. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020, said that the banking sector tax rates have not been reduced in line with the […]
Continue Reading
KARACHI: Foreign and multinational companies have demanded the Federal Board of Revenue (FBR) to exempt sales tax and customs duty on import of telecom equipment in order to encourage investment in this sector. The Overseas Chamber of Commerce and Industry (OICCI) in its proposals for budget 2019/2020 said that telecom was very investment intensive sector […]
Continue Reading
KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI), has appreciated the appointment of tax expert Shabbar Zaidi as Chairman of the Federal Board of Revenue (FBR), a statement said on Wednesday. The OICCI President, Shazia Syed commenting on the appointment said “Shabbar Zaidi, is a well-respected tax professional, who has been closely associated […]
Continue Reading
KARACHI: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, has said that 100 percent foreign shareholding remained allowed in legal entities incorporated in Pakistan.
Continue Reading
Saudi Arabia and the United Arab Emirates (UAE) are gearing up for substantial investments in the country, according to Abdul Razak Dawood, the Adviser to the Prime Minister on Commerce and Textile.
Continue Reading
KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) on Friday released results of its Business Confidence Index (BCI) Survey – Wave 17, which shows that the overall Business Confidence in Pakistan stands at negative 12 percent, a 26 percent decline from the 14 percent positive recorded in the Wave 16 results announced in May […]
Continue Reading