Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Indenters Association of Pakistan (IAOP) has expressed disappointment over imposing of service sales on indenters in the provincial budget 2016/2017. In a statement issued on Thursday, IAOP Chairman Khurram…
KARACHI: The government has proposed to cap the tax exempted import of raw materials to 110 percent of the quantity imported and consumed in the last tax year. Presently, taxpayers…
KARACHI: The government has proposed to tax income of Pakistan Cricket Board (PCB) derived from sources outside Pakistan at the rate of 4.0 percent. According to Finance Bill 2016, PCB’s…
KARACHI: The governments intends to introduce multi-fold increase in the tax rate applicable, gross receipts from services rendered and construction contracts executed outside Pakistan. Presently, gross receipts from services rendered…
KARCHI: Through Finance Bill 2016, the rate of tax on dividends from mutual funds is proposed to include separate rates for filers and non-filers. According to the proposes structure, individual…
KARACHI: The Finance Bill 2016 proposes to enable the Federal Government to enter into a tax treaty or tax information and exchange agreement or multilateral convention or inter government agreement…
KARACHI: Federal government, through the Finance Bill 2016, has extended Super tax as applicable for tax year 2015 to tax year 2016 also. Through Finance Act, 2015, Super tax was…
KARACHI: The Federal Budget 2016 brings no major policy change in the taxation regime. Except for certain incentives for industrialization, most of the proposals relate to tax collection measures instead…
KARACHI: The Finance Bill 2016 seeks to introduce a unique non-income based Fixed Tax Regime for ‘Builders’ and ‘Developers’. Under this regime, tax liability for the builders and developers shall…
ISLAMABAD: Although the federal budget for the financial year 2016-17 saw merger of two ad-hoc reliefs announced for the year 2013 and 2014 into basic salary of federal government employees,…
KARACHI: The federal government has increased the rate of capital gains tax (CGT) on disposable of securities for non-filers, while rates are kept intact for filers. Finance Bill 2016 proposes…
ISLAMABAD: Federal government on Friday announced a major relief for government employees and the labour in the federal budget 2016-17. Fiance Minister Senator Ishaq Dar in his budget speech said…
ISLAMABAD: The federal government has imposed income tax on income derived from rental property on both individuals and association of persons. According to the proposals made in finance Bill 2016,…
ISLAMABAD: Minister for Finance Ishaq Dar Friday announced an allocation of Rs.188 billion for construction of roads, highways and bridges in the current financial year 2016 17. Unveiling budget 2016-17,…
KARACHI: All payments made to non-resident person for foreign produced commercials has been subjected to income tax at the rate of 20 percent in the budget FY 2016-17. The Finance…
KARACHI: Federal government through the Finance Bill 2016 has granted 40-year exemption from sales tax and federal excise duty on imports and supplies to concession holder of Gwadar Port Authority…
ISLAMABAD: Minister for Finance Senator Ishaq Dar Friday proposed an 100 per cent increase in funds for the Pakistan Baitul Maal (PBM) in the federal budget 2016-17 to mitigate sufferings…
ISLAMABAD: The Federal Government has allocated Rs 41,000 million for executing 43 development projects of Railways Division in the Public Sector Development Programme (PSDP) for the fiscal year 2016-17 which…
ISLAMABAD: Rs 31,716.370 million have been allocated by the federal government for various ongoing water schemes and new projects under Public Sector Development Programme (PSDP) for next fiscal year 2016-17…
KARACHI: Criticising the ruling party Pakistan Muslim League (Nawaz) for its failure on fiscal side, Bilawal Bhutto Zardari chairman of Pakistan Peoples Party dubbed the PML-N as “Nakam” (failed) League.…