Jan 8

PTA Urges Zero-Rated Tax Regime for Leather Sector

KARACHI: The Pakistan Tanners Association (PTA) leadership, including Chairman Hamid Zahur and Vice Chairman Danish Aman, held a comprehensive discussion with Ahsan Iqbal, Federal Minister for Planning, Development, Special Initiatives, and Inter-Provincial Coordination. The meeting, held at PTA’s office, focused on key issues confronting the leather sector.

by Faisal Shahnawaz

FBR includes five export oriented associations for reduced power, gas tariff

Mar 30

Taxation

FBR includes five export oriented associations for reduced power, gas tariff

ISLAMABAD: Federal Board of Revenue (FBR) has included five associations of export oriented sector (erstwhile zero-rated sector) in the concessionary tariff regime of electricity, RLNG and gas. The FBR issued Sales Tax Circular No. 01 of 2021 on Tuesday to include the members of five associations for providing concessionary tariff of electricity, RLNG and gas. […]

by Mrs. Anjum Shahnawaz

FBR starts registration for grant of reduced tariff rate on electricity, gas supply

Dec 31

Taxation

FBR starts registration for grant of reduced tariff rate on electricity, gas supply

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said it is starting registration of manufacturers of export oriented sectors from January 01, 2021 for grant of reduced tariff rate on supply of electricity and gas. In this connection the FBR issued standard operating procedure (SOP) to start the registration process. In a notification, the FBR […]

by Mrs. Anjum Shahnawaz

Textile value added sector demands restoration of sales tax zero-rate regime

Feb 6

Trade & Industry

Textile value added sector demands restoration of sales tax zero-rate regime

KARACHI: Exporters of textile value added sector have demanded restoration of zero-rated sales tax regime as despite assurance of 72-hour payment of refunds huge liquidity was stuck up with the tax authority. The Value Added Textile Exports Associations demand the government for immediate restoration of Zero Rating – No Payment No Refund System, release payments […]

by Mrs. Anjum Shahnawaz

FBR issues procedure for zero-rated supplies to Duty Free Shops

Aug 8

Taxation

FBR issues procedure for zero-rated supplies to Duty Free Shops

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for zero-rated sales tax supply to duty free shops. The FBR on Thursday said that a duty free shop (DFS), duly licensed by the Customs authorities, and entitled to receive zero-rated supplies under serial No. 3 of the Fifth Schedule to the Act, for the purpose […]

by Mrs. Anjum Shahnawaz

Inland Revenue directed to ensure no zero-rate supply of gas, electricity

Jul 18

Taxation

Inland Revenue directed to ensure no zero-rate supply of gas, electricity

ISLAMABAD: Federal Board of Revenue (FBR) has directed offices of Inland Revenue to ensure implementation of normal tax rate on supply of gas and electricity to manufacturing facilities. In a communication with the offices of Inland Revenue, the FBR said: “Field formations are requested to ensure implementation accordingly and to ensure that no zero-rated supplies […]

by Mrs. Anjum Shahnawaz

No compromise on documentation; PM refuses to withdraw CNIC condition

Jul 10

Finance, Trade & Industry

No compromise on documentation; PM refuses to withdraw CNIC condition

KARACHI: Prime Minister Imran Khan on Wednesday showed firm resolve to document the economy and flatly refused demands of business community to withdraw condition of CNIC on sales above Rs50,000. Representatives of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) met the prime minister at the […]

by Mrs. Anjum Shahnawaz

Karachi Chamber demands restoration of sales tax zero rating for export industries

Jul 4

Trade & Industry

Karachi Chamber demands restoration of sales tax zero rating for export industries

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Thursday urged the government to restore sales tax zero-rating for export oriented industries as due to withdrawal of this scheme many industries have shut down their activities. KCCI President Junaid Esmail Makda in a statement expressed deep concerns over the worsening crises being faced by the […]

by Mrs. Anjum Shahnawaz

Protest on June 10 against plan to abolish zero-rate sales tax

Jun 9

2019-2020, Budget, Trade & Industry

Protest on June 10 against plan to abolish zero-rate sales tax

KARACHI: Textile value added sector has announced to stage protest on Monday June 10, 2019 against proposed plan to abolish sales tax zero-rating for export sector. Muhammad Jawed Bilwani, Chief Coordinator for Five Zero Rated Export Sectors in a statement on Saturday said that the exporters and manufacturers would stage peaceful protest outside the Karachi […]

by Faisal Shahnawaz

FPCCI expresses concerns over abolishing zero-rate regime

May 29

Trade & Industry

FPCCI expresses concerns over abolishing zero-rate regime

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed serious concerns over rumors regarding abolishing zero-rated for export sector. Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), S. M. Muneer Former President FPCCI and Iftikhar Ali Malik, Former President FPCCI & Sr. Vice President […]

by Faisal Shahnawaz