Pakistan Revenue
KARACHI: Pakistan Yarn Merchants Association (PYMA) has informed the Federal Board of Revenue (FBR) that present turnover tax rate for yarn traders is very high and many traders may resort to shutdown their factories at this high rate. Farhan Ashrafi, Vice Chairman of Pakistan Yarn Merchants Association(PYMA) & convener FPCCI’s Central Standing Committee on Yarn […]
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KARACHI: Foreign investors have expressed concerns over high rate of turnover tax rate, especially for those sectors where margins are very low. Overseas Investors’ Chamber of Commerce and Industry (OICCI) expressed this concern at an interactive session with Dr. Abdul Hafeez Sheikh held on September 12, 2020, a statement said on Monday. The statement said […]
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ISLAMABAD: The rate of minimum turnover tax has been increased to 1.5 percent from 1.25 percent in the budget 2019/2020 presented a day earlier. The Finance Bill, 2019 proposed to enhance the rate of minimum turnover tax The Federal Board of Revenue (FBR) explained that presently minimum tax on turnover is charged at the rate […]
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KARACHI: The Pakistan Yarn Merchants Association (PYMA) has urgently called on the Federal Board of Revenue (FBR) to issue a clear clarification regarding the applicable turnover income tax rate for yarn merchants, following what it describes as unjustified harassment by tax authorities.
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KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged Federal Board of Revenue (FBR) to issue necessary instructions to all RTOs to refrain from sending notices for demanding the unjust annual turnover Tax to members of Pakistan Yarn Merchants Association (PYMA) till the issue is resolved as the Annual Turnover Tax, which was 0.1 […]
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