Aug 25

Engro enhances telecom investment to Rs21.5 billion

KARACHI: Engro Corporation has announced to enhance its total equity investment in the telecom infrastructure vertical to Rs21.5 billion. Engro has also formed a dedicated platform for connectivity and telecom infrastructure related initiatives by the name of Engro Connect (Pvt.) Limited (EConnect). EConnect is a wholly owned subsidiary of Engro and will hold complete ownership […]

by Hamza Shah

Budget 2021/2022: FED reduced on telecom services

Jun 12

Budget 2021-2022, IT & Telecom, Taxation

Budget 2021/2022: FED reduced on telecom services

ISLAMABAD: The government has announced reduction in Federal Excise Duty (FED) from 17 percent to 16 percent to facilitate businesses and provide relief to the general masses. Finance Minister Shaukat Tarin while presenting federal budget 2021/2022 on Friday said the government had decided to reduce FED on telecom services. He said that to facilitate businesses […]

by Anjum Shah

SRB issues sales tax rate on telecom services

Nov 3

IT & Telecom, Taxation

SRB issues sales tax rate on telecom services

KARACHI: Sindh Revenue Board (SRB) on Tuesday updated working tariff up to November 01, 2020 for levy of sales tax on telecommunication services. The sales tax on services are exempt on telecommunication services involving charges payable on the international leased lines or bandwidth services used by the software exporting firms registered with the Pakistan Software […]

by Anjum Shah

Court restriction on telecom tax costs Rs55 billion: FBR

Nov 16

Taxation

Court restriction on telecom tax costs Rs55 billion: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has incurred loss of Rs55 billion due to restriction imposed by Supreme Court of Pakistan on collection of tax on phone services. The FBR in its year book 2018-2019, said that during the last fiscal year it had missed the revenue collection target by Rs321.5 billion due to various […]

by Anjum Shah

Duty exemption on foreign bandwidth services withdrawn

Jun 13

2019-2020, Budget, IT & Telecom, Taxation

Duty exemption on foreign bandwidth services withdrawn

ISLAMABAD: Federal Board of Revenue (FBR) has said that telecom services provided in Islamabad Capital Territory are subject to Federal Excise Duty (FED) under the Federal Excise Act, 2005. However, internet services are presently exempt from payment of FED under Third Schedule to the Federal Excise Act, 2005. Similarly, bandwidth services are also exempted from […]

by Faisal Shah