Overseas Investors Chamber of Commerce and Industry Archives - Page 6 of 13

FBR urged to restore sales tax exemption on LED lights

April 19, 2022March 24, 2026Hamza Shahnawaz

KARACHI: The Federal Board of Revenue (FBR) has been urged to restore sales tax exemption on supply of LED or SMD lights as these are meant for conservation of energy.

Minimum tax 0.2% suggested for listed chemical companies

April 18, 2022April 18, 2022Hamza Shahnawaz

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has suggested that the minimum tax should be reduced to 0.2 per cent for listed companies with large turnover with lower profit margins. The OICC in its proposals for budget 2022/2023 submitted to Federal Board of Revenue (FBR) made tax recommendations related to chemical, pesticides, fertilizers, […]

Proposals for capital gain on disposal of securities by insurance companies

April 18, 2022April 19, 2022Hamza Shahnawaz

KARACHI: The Federal Board of Revenue (FBR) has been proposed to notify rules for computation of capital gain on disposal of securities for insurance companies. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2022/2023, said that as institutional investors, insurance companies are very important participants in the financial market, especially […]

FBR urged to align corporate tax rate for banks

April 18, 2022April 18, 2022Hamza Shahnawaz

KARACHI: Federal Board of Revenue (FBR) has been urged to bring corporate tax rate for banking companies at par with the other sectors. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2022/2023 pointed out towards higher effective tax of banking sector. It recommended that corporate tax rates for the banking […]

OICCI suggests duty cut on locally manufactured cars

April 17, 2022April 17, 2022Hamza Shahnawaz

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended reduction in federal excise duty (FED) on locally manufactured cars. The OICCI in its proposals for budget 2022/2023 submitted to the Federal Board of Revenue (FBR), recommended that levy of FED on locally manufactured vehicles should be reduced by amending Serial No. 55B and […]

Return filing be made mandatory for account holders

April 16, 2022April 16, 2022Hamza Shahnawaz

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 […]

Unjustified audit notices annoy taxpayers

April 14, 2022April 15, 2022Hamza Shahnawaz

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 […]

Foreign investors demand inter-adjustment of tax refunds

April 14, 2022January 1, 2024Hamza Shahnawaz

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.

OICCI presents recommendations to eliminate illicit trade

April 14, 2022April 14, 2022Hamza Shahnawaz

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 […]

OICCI urges harmonize sales tax rates