Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Federal Board of Revenue (FBR) has received a complaint against Officers of Inland Revenue Services (IRS) for demanding bribe and visiting business premises along with private persons for…
KARACHI: Transparency International Pakistan (TIP) has urged the prime minister to intervene into the affairs of the Federal Board of Revenue (FBR) where rampant corruption is eating billions of public…
KARACHI: Dr. Muhammad Irshad, Chief Commissioner of Regional Tax Office (RTO-1) Karachi has directed the field formation not to impose penalty without hearing taxpayers. In a letter circulated to the…
ISLAMABAD: Finance Minister Ishaq Dar in his budget speech to announce formation of a commission to deliberate single stage sales tax rate and to revert the field formation of Federal…
KARACHI: Institute of Cost and Management Accountants of Pakistan (ICMAP) has proposed that cement should be brought under the normal sales tax regime by removing the cap of the third…
KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMAP) has suggested the tax machinery to bring down the sales tax rate initially to 12.5 percent in upcoming budget…
KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMAP) has proposed that income tax should be charged over Rs one million from senior citizens to increase tax recovery.…
KARACHI: The Large Taxpayers Unit (LTU) has proposed to make the sales tax audit meaningful by an Inland Revenue Officer for imposing penalty and default surcharges besides conducting composite audit…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended that regulatory duty should be levied on items which are being imported under free trade agreement (FTA)…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the government that tax judicial system should be separated from collection machinery and should work under the…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed amendments in the sales tax laws to penalize tax officials found involved in mal-administration. In its budget…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed an idea to slash income tax on rental income to 10 percent as final settlement of tax…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the tax machinery to enhance turnover limit of cottage industry to Rs 10 million from existing rate…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed to reduce general sales tax (GST) to a single digit from existing rate of 17 percent which…
KARACHI: The Large Taxpayers Unit (LTU) has proposed amendment to Income Tax Ordinance, 2001 that a taxpayer could not claim any deduction on account of unrealized foreign exchange loss due…
KARACHI: The Large Taxpayers Unit (LTU) Karachi has proposed amendments to Income Tax Ordinance, 2001 to bring all types of liabilities under presumptive tax regime (PTR). The unit in its…
KARACHI: The Large Taxpayers Unit (LTU) has proposed the government to establish panel of experts for assessing the fair market value of properties in the real sector for identifying potential…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the concept of carry forward of unabsorbed tax credit for newly established industrial undertaking. At present under…
KARACHI: The business community has advocated the government to reduce general sales tax (GST) of heavily taxed mobile telecommunication industry to 16 percent from current rate of 19.5 percent. Another…
KARACHI: The private sector has proposed the tax machinery to charge pharmaceutical products, raw materials and packaging materials on zero rating for sales tax purpose and should be removed from…