Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Finance Bill 2019 proposes that commercial importers of goods listed in Third Schedule will pay sales tax at import stage on ‘retail price’ instead of value determined under…
KARACHI: The rate of tax on dividend distributed by power generation companies is proposed to be enhanced to 15 percent from existing 7.5 percent, suggests Finance Bill 2019. Applicable tax…
KARACHI: The Finance Bill 2019 has proposed certain amendments to address the practical issues which were being faced by withholding agents of non-resident contractors in relation to payments for offshore…
KARACHI: The Finance Bill 2019 has proposed discretionary power for the Commissioner Inland Revenue to examine and amend the reported income of insurance companies for the purpose of computing the…
KARACHI: The Finance Bill 2019 has proposed to restrict purchase of property (valuing more than Rs5.0 million), any other asset (valuing more than Rs1.0 million) by any person otherwise than…
KARACHI: The Finance Bill 2019 has proposed the revamp the capital gains tax (CGT) regime on disposal of immovable property, whereby incidence of tax on gains arising from real estate…
KARACHI: The Finance Bill 2019 has proposed enhanced powers for Income Tax Commissioner enabling them to enter and search the premises and confiscate undeclared assets. Section 175 of the Income…
KARACHI: The Finance Bill 2019 has proposed to do away with the concept of ‘filer’ and ‘non-filer’ and instead introduces provisions to deal with such persons whose names do not…
KARACHI: The government through Finance Bill 2019 has proposed a business licensing scheme with a view to detect future taxpayers. Through the proposed Section 181D in Customs Act, 1969, Finance…
KARACHI: The PTI government has revised the tax slabs for salaried persons vide Finance Bill 2019. Income of an individual chargeable under the head ‘salary’ exceeds 75 percent of the…