ICCI organizes seminar on Tax Compliances for Corporate and Non Corporate tax payers

Islamabad ,  Islamabad Chamber of Commerce and Industry (ICCI) organized a seminar, titled  Tax Compliances for Corporate and Non Corporate tax payers . Mr. Haroon Tareen, Chief Commissioner Inland Revenue Regional Tax Office (RTO) was also [...]

FBR further eases conditions for waiver of default surcharge, penalties on account of illegally adjusted input Sales Tax

Islamabad, Federal Board of Revenue FBR on Wednesday further eased conditions for waiver of default surcharge and penalties on account of illegally adjusted input Sales Tax to further facilitate tax payers. FBR today issued SRO 774(I)/2012 which [...]

Credit of tax receipts in Federal Board of Revenue Account

Karachi,   State Bank of Pakistan SBP Monday said Banks, DFIs, MFBs should remain fully cognizant of their legal responsibilities in respect of timely deduction of applicable taxes on eligible transactions and corresponding credit to accounts [...]

Income Tax exemption limit increased from 3.5 lacs to 4 lacs

ISLAMABAD : The Federal Minister for Finance Dr. Abdul Hafeez Shaikh has said that there is a good news for tax payers, salaried people, businessmen and corporations that the new budget does not propose any additional burden on them rather they [...]

Hub Power Company decides to avail FBR scheme, pay Rs 1,615,474,998 in tax levy by FBR on shares issuance against project development costs

Karachi :   Hub Power Company Limited HUBC on Wednesday said in order to restrict potential exposure, liability, HUBC decided to avail scheme offered by Federal Bureau of Revenue FBR vide SRO 547 dated 22 May 2012 and pay Rs 1,615,474,998 in [...]

Federal Board of Revenue should withdraw multiple Sales Tax rates, apply 9% uniform rate for all products: FPCCI

Karachi, Federation of Pakistan Chambers of Commerce & Industry FPCCI says Federal Board of Revenue should withdraw Sales Tax multiple rate and apply 9% uniform rate for all products. This will not decrease revenue of government as smuggling [...]

Call to bring untaxed sectors into tax net, step-wise trade opening with India only after structural reforms

Lahore, Pakistan Association of Automotive Parts & Accessories Manufacturers PAAPAM in its budget proposals demanded of government to bring all untaxed sectors into tax net including agriculture, instead of twisting existing tax payers arm. It [...]

Federal Board of Revenue, Institute of Chartered Accountants of Pakistan agree on broadening tax base via SRO 191

Karachi,  Federal Board of Revenue FBR and Institute of Accountants of Pakistan ICAP agreed on broadening tax base via SRO 191. FBR Chairman Mumtaz Haider Rizvi, Shahid H. Asad, Member Inland Revenue, all Chief Commissioners from large taxpayers [...]

Overseas Investors Chamber of Commerce & Industry recommends broadening tax base

Karachi, Overseas Investors Chamber of Commerce & Industry OICCI once again stressed need to document and tax all sectors of Pakistan economy to broaden tax base and eradicate tax evasion. To ensure documentation of all segments of economy [...]

1% Withholding Tax on goods imported for zero rated regime: FPCCI

Karachi :  Vice President (Elect) & Chairman FPCCI Standing Committee on Liaison with FBR Shakeel Ahmed Dhingra appreciated Shahid Asad Member Inland Revenue, FBR for taking immediate action and issuing clarification to charge withholding [...]




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