Govt urged to revisit numerous budgetary measures
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard…
Karachi Customs Intelligence Cracks Down on Tea Importers for Tax Evasion
In a significant crackdown on tax evasion, the Directorate General of Intelligence and Investigation-Customs in Karachi has exposed a fraudulent scheme by tea importers. The operation, led by Director Engineer…
President KCCI for complete ban on imported recycled plastic
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Mohammed Tariq Yousuf has advised the government to put the import of recycled plastic under any description in the negative list…
Karachi Chamber for out-of-the-box solutions to avoid further downslide of economy
FEDERAL BUDGET PROPOSALS 2023-24: KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) firmly believes that that out-of-the-box solutions were needed to avoid further downslide of economy while the decision-makers…
Explanation cannot be effective retrospectively, rules SHC
KARACHI: An Income Tax Appellate bench of High Court of Sindh headed by Justice Aqeel Ahmed Abbasi deciding two identical Income Tax Reference Applications (ITRA 272 & 273 of 2011)…
PCA detects revenue evasion of Rs434.35 million
KARACHI: Directorate of Post Clearance Audit Karachi has detected duty/tax evasion and short payment of Rs434.35 million in the month of September 2016 by various companies and traders. The Directorate…
Income tax return filers surge to 1.08 million
KARACHI: The number of income tax return filers has surged to 1.08 million, suggests the latest Active Taxpayers List (ATL) released by Federal Board of Revenue (FBR). Appearance of taxpayers…
Property registration comes to a halt throughout Pakistan
KARACHI: The new property valuation mechanism introduced by the federal government has totally halted property registration activities all over Pakistan causing frustration among applicants and huge loses of revenue to…
Banks deposits declines after imposing WHT on all banking transactions
KARACHI: Owing to the imposition of withholding tax on all kind of banking transactions, the Bank’s deposits of the banking industry are declining since July 2015. Earlier, it was growing…
Telenor avoids to pay WHT of $39.5m against 10MHz 4G license purchase
KARACHI: The Telenor Pakistan has total refused to pay 10 per cent Withholding Tax (WHT) amounting to $39.5 million and filed a petition in Islamabad High Court against government of…
Banks to deduct WHT on every account opened on a CNIC
KARACHI: The Federal Board of Revenue (FBR) has directed all the banks to deduct Withholding Tax (WHT) on every kind of banking transactions of every account opened on a Computer…
Tax return filing date extended; WHT on banking transactions raised to 0.4pc
ISLAMABAD: Minister for Finance Ishaq Dar on Monday announced extension of date for the Voluntary Tax Compliance Scheme (VTCS) up to March 15, 2016 to give more opportunities and relief…
PCA Karachi detects revenue leakge of Rs531 million
KARACHI: The Directorate of Post Clearance Audit has made remarkable performance in the month of January 2016 and detected 48 cases involving revenue of Rs531 million. Post Clearance Audit headed…
SHC dismisses 281 identical petitions questioning WHT on benevolent funds
KARACHI: As many as 281 constitution petition challenging Directorate of With Holding Tax notification making a certificate of exemption mandatory for trusts, funds etc were dismissed here Wednesday through a…