Pakistan Revenue
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 group. Similarly, Federal Excise Duty (FED) is charged at 17 percent on telecom services which is on higher side as compared to other sectors, and […]
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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 of foreign investors, in its proposals for budget 2021/2022 demanded that all pending tax refund be cleared within next six months in an orderly/ prearranged […]
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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 proposals for budget 2021/2022 said that through SRO 888 of 2020 dated September 21, 2020, a new chapter was introduced in Sales Tax Rules, 2006 […]
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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 have filed tax returns and wealth statement. “This could be done by the financial institutions simply notifying names/CNIC numbers of such customers to FBR without […]
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KARACHI: Federal Board of Revenue (FBR) has been urged to revamp withholding tax regime and bring down the existing 50 different tax rates to maximum five rates. Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body of foreign investors operating in Pakistan and multinational companies, in its proposals for budget 2021/2022 suggested the […]
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KARACHI: Foreign investors operating in Pakistan have suggested the government to abolish Final Tax Regime (FTR) and make all provisions pertaining to withholding tax as adjustable. In its proposals for budget 2021/2022, the Overseas Investors Chamber of Commerce and Industry (OICCI) on Wednesday said it had submitted comprehensive taxation proposals for the Federal Budget 2021-2022 […]
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KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has elected Irfan Siddiqui as its president for the 2021 term at its annual general meeting held on Monday. Siddiqui, who currently serves as the President and CEO of Meezan Bank Limited, will lead the chamber, which represents foreign investors in Pakistan.
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KARACHI: The foreign investors operating in Pakistan have contributed Rs16 billion in different CSR activities and for containment of the negative impact of coronavirus. In addition to monetary contributions the CSR activities of OICCI members included investment of their employees’ time in different value adding social activities across Pakistan with the underlying commitment to uplift […]
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KARACHI: Foreign investors operating in Pakistan have expressed concerns over lack of attention by government authorities on protection of Intellectual Property Rights (IPRs). The concerns have been expressed in a survey conducted by Overseas Investors Chamber of Commerce and Industry (OICCI). The OICCI announced the key findings of its latest IPR Survey on Wednesday. The […]
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KARACHI: Dr Reza Baqir, Governor of State Bank of Pakistan (SBP) has said that market based exchange rate helped shrinking current account deficit. In an interactive session with leading foreign investors, members of the Overseas Investors Chamber of Commerce and Industry (OICCI), he shared an overview of the current Economic Outlook of Pakistan and informed: […]
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