Finance Supplementary 2nd Amendment: Growth, boost rightly supersede deficit worry

OPINION: Thank God, we have finally realized that, what we needed the most was growth and the overall boost to the economy through corrective structural measures rather than the typical punitive mindset towards businesses. This is reflected from the needed structural corrections made to the Finance Bill, which would be… Continue reading

Five-year tax holiday for investment in the manufacturing of renewable energy technologies

KARACHI: Finance Supplementary 2nd Amendment Bill has proposed complete tax holiday along with import duty exemptions to attract investment in the manufacturing of renewable energy technologies. Finance Minister Asad Umar said PTI government aimed at increasing share of renewable energy in the country’s energy mix to 30 percent adding government also… Continue reading

WHT on bank transactions, cash withdrawals removed for tax return filers

KARACHI: The Finance Supplementary 2nd Amendment Bill presented by Finance Minister Asad Umar on Wednesday has proposed to remove withholding tax (WHT) on bank transactions and cash withdrawals by tax return filers. The government acknowledged in various documents that withholding tax imposition is a major impediment to banking sector’s growth…. Continue reading

Mini-budget proposes to reduce/remove import duty on raw materials

KARACHI: The Finance Supplementary 2nd Amendment Bill presented by Finance Minister Asad Umar on Wednesday has proposed to reduce and in cases remove customs duty on the import of raw materials. “Industrial sector is the backbone of the economy. But unfortunately industrial growth had declined in the last 10 years,”… Continue reading