Cash withdrawal should be exempted from withholding tax; Senate recommends key changes in Finance Bill 2020

ISLAMABAD: The Senate of Pakistan has recommended the government to abolish withholding tax on cash transactions from banks. In its key tax recommendations for finalizing budget 2020/2021, the Senate recommended that the government should abolish all kinds of withholding tax chargeable on cash transactions from banks. It recommended that instead of the proposed amendment in […]

by admin

Senate advises salary increase by 10 percent

Jun 26

Budget 2020-2021, National

Senate advises salary increase by 10 percent

ISLAMABAD: The Senate of Pakistan has recommended increase in salary of government employees by at least 10 percent for fiscal year starting July 01, 2020. As per the general consensus recommendations of the upper house after the debate on budget 2020/2021, it is recommended that salary of government employees should be enhanced at least 10 […]

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Senate recommends tobacco must be treated as crop, exempted from duty/taxes

Jun 26

Budget 2020-2021

Senate recommends tobacco must be treated as crop, exempted from duty/taxes

ISLAMABAD: The Senate of Pakistan has recommended that tobacco must be treated as a crop and must be exempted from duty and taxes. In its recommendations to Finance Bill 2020, the upper house recommended the National Assembly that tobacco must be treated as a crop like wheat, maize, sugarcane etc. and must be exempted from […]

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Law passed for speedy transfer of immovable properties

Feb 4

National

Law passed for speedy transfer of immovable properties

ISLAMABAD: The Senate on Monday approved an important legislation to facilitate the speedy transfer of movable and immovable property of the deceased, to the legal heirs. Letters of Administration and Succession Certificates Bill, 2020 is one of the key legislations, in Government’s legal reform agenda, to get the assent of both the National Assembly and […]

by Anjum Shah