tax
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Govt to scrap tax on power subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to resolve the controversy over the tax on subsidy being doled out to electricity consumers and decided to remove the levy in the upcoming budget for fiscal year 2022-23. The tax on subsidy has…
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Govt may raise tax on banks | The Express Tribune
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[ad_1] ISLAMABAD: The government may increase the super tax on commercial banks to 7% and also further enhance the additional tax on profits that banks make by extending loans to the cash-starved central government. If both proposals pass the scrutiny…
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ICAP for withdrawing tax breaks | The Express Tribune
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[ad_1] ISLAMABAD: The Institute of Chartered Accountants of Pakistan (ICAP) on Tuesday proposed to withdraw all income tax exemptions, including those meant for generals and judges, and also sought an end to the unchecked inefficiency-prone budget subsidies for the exporters….
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Govt asked to remove sales tax on hybrid seeds | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Hi-Tech Hybrid Seed Association (PHHSA) Chairman Shahzad Ali Malik has urged the government to withdraw 17% sales tax on hybrid seeds for boosting agricultural production in order to ensure food security by increasing the per-acre output of…
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India trims tax on fuel, essential commodities | The Express Tribune
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[ad_1] NEW DELHI: India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation. Finance Minister Nirmala Sitharaman announced a cut in excise…
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Global mobile body seeks tax cut | The Express Tribune
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[ad_1] ISLAMABAD: The global mobile industry association, called GSMA, has proposed that the withholding tax on essential telecom services in Pakistan should be brought down from 15% to 8% in the federal budget for 2022-23 in order to improve the…
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IMF asks for Rs7.25tr tax collection target | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has demanded that Pakistan fix next fiscal year’s tax collection target at Rs7.25 trillion, which will require imposition of additional taxes of around Rs300 billion, including withdrawal of agriculture tax exemptions and increase…
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Telecom sector calls for reducing advance tax | The Express Tribune
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[ad_1] ISLAMABAD: The telecommunication sector in its tax proposals for fiscal year 2022-23 has urged the government to reduce advance income tax (AIT) from 15% to 8%. Currently, over 193 million telecom users in the country are subjected to exorbitant…
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FPCCI proposes high tax rates, amnesty for rich | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s apex business body has proposed drastic measures to Prime Minister Shehbaz Sharif to contain budget and current account deficits including the rationing of electricity, an increase in individual tax rates and an amnesty for the rich to…
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ICCI demands single sales tax return | The Express Tribune
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[ad_1] ISLAMABAD: The government should assign the task of sales tax collection across the country to the Federal Board of Revenue (FBR), demanded Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. Talking to the business community, he…
