Revival of sales tax zero rating suggested to ease liquidity problem

May 2

Budget 2020-2021

Revival of sales tax zero rating suggested to ease liquidity problem

KARACHI: Business community has recommended revival of zero rated sales tax for the export sector in the wake of difficulties faced following COVID-19. Pakistan Business Council (PBC) has suggested sales tax proposals for budget 2020/2021 to ease the pressure on the industry. It said that the proposal for bringing the five export sectors under the […]

by Mrs. Anjum Shahnawaz

Minimum tax collection should be suspended for two years

May 2

Minimum tax collection should be suspended for two years

KARACHI: Pakistan Business Council (PBC) has recommended suspending minimum tax under Section 113 of Income Tax Ordinance, 2001 considering the pandemic of COVID-19 and its impact on businesses. The PBC in its budget proposals 2020/2021, said that a turnover based minimum tax is fundamentally flawed in that it fails to take account of the industry […]

by Mrs. Anjum Shahnawaz

PBC demands suspending collection of Sindh infrastructure cess

Apr 17

Trade & Industry

PBC demands suspending collection of Sindh infrastructure cess

KARACHI: Pakistan Business Council (PBC) has demanded the Sindh government of suspending collection of infrastructure to provide relief the industrial and businesses in the wake of coronavirus outbreak. In a letter sent to Sindh Chief Ministry Syed Murad Ali Shah, the PBC demanded the suspension of collections under the Sindh Development and Maintenance of Infrastructure […]

by Mrs. Anjum Shahnawaz

FBR suggested reduced corporate tax rate for job creation

May 27

2019-2020, Budget, Taxation

FBR suggested reduced corporate tax rate for job creation

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce corporate tax rate by one percent for companies creating 50 or more new jobs in a year. Pakistan Business Council (PBC) in its tax proposals for budget 2019/2020 suggested the government to reduce tax rate for companies creating more jobs during a year. “One […]

by Faisal Shahnawaz

FBR advised reducing income tax to half for exporters other than five zero-rated sectors

May 17

2019-2020, Budget, Trade & Industry

FBR advised reducing income tax to half for exporters other than five zero-rated sectors

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce the income tax rate to half for exporters not falling under five zero-rating scheme in order to promote and diversification of exports. Pakistan Business Council (PBC) in its tax proposals for forthcoming budget 2019/2020 said that at present the rate of tax deduction on […]

by Faisal Shahnawaz

Smuggling through ATT biggest threat to economic growth: PBC

May 8

2019-2020, Trade & Industry

Smuggling through ATT biggest threat to economic growth: PBC

KARACHI: Pakistan Business Council (PBC) in its budget proposals 2019/2020 has said that smuggling through Afghan Transit Trade is the biggest threat for economic growth of the country. “Smuggling through Afghan Transit Trade has always been the biggest threat for economic growth and hardly any sector has been left untouched by this menace,” the council […]

by Faisal Shahnawaz

PBC suggests measures for broadening tax base by enhancing withholding tax rates on non-filers, unregistered persons

May 6

2019-2020, Budget, Trade & Industry

PBC suggests measures for broadening tax base by enhancing withholding tax rates on non-filers, unregistered persons

KARACHI: Pakistan Business Council (PBC) has suggested measures for broadening tax base through enhancing withholding tax rates on non-filers and unregistered persons in various sectors. The PBC – the advisory council of large corporate entities – in its budget proposals for 2019/2020 said that the concept of separate withholding tax rates for filers and non-filers […]

by Faisal Shahnawaz

Commercial importers destroying domestic industry: PBC

May 5

2019-2020, Budget, Trade & Industry

Commercial importers destroying domestic industry: PBC

KARACHI: Pakistan Business Council (PBC) – the advisory forum of large corporate entities – has said that commercial importers are involved in massive under-invoicing and they are destroying the domestic industry. In its budget proposals for 2019/2020, the PBC recommended measures for documentation of economy to providing level playing field for domestic manufacturing. The PBC […]

by Faisal Shahnawaz

PBC resents restoration of final tax regime for commercial importers

Jan 26

Trade & Industry

PBC resents restoration of final tax regime for commercial importers

The business association representing multinational companies (MNCs), the Pakistan Business Council (PBC), has strongly criticized the proposed restoration of the Final Tax Regime (FTR) for commercial importers, urging the government to reconsider its decision. The PBC’s concerns were voiced in response to the Finance Supplementary (Second Amendment) Bill of 2019.

by Mrs. Anjum Shahnawaz