tax
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Biggest tax scam surfaces in FBR | The Express Tribune
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[ad_1] ISLAMABAD: A new tax scam has surfaced in the Federal Board of Revenue (FBR) where tax authorities illegally paid over Rs16 billion in sales tax refunds to hundreds of big retailers in the past five months. According to government sources and a list of beneficiaries of the illegal input tax adjustments, the payments were…
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Tax breaks for choppers likely | The Express Tribune
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[ad_1] ISLAMABAD: The government is likely to offer tax incentives to the private sector for the manufacturing of helicopters and their parts in a new proposed chopper policy. The Civil Aviation Authority (CAA) has proposed that the government should eliminate taxes and duties on helicopter operations in the draft chopper policy. It listed salient features…
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Reversal of tax on EVs, solar panels demanded | The Express Tribune
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[ad_1] KARACHI: Stakeholders of the renewable energy sector have urged the government to withdraw the general sales tax on electric vehicles (EVs) and solar panels. They have also asked the International Monetary Fund (IMF) to play a responsible part in developing socially just and environment-friendly financing solutions for Pakistan. The Alliance for Climate Justice and…
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India to tax cryptocurrencies at 30% | The Express Tribune
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[ad_1] MUMBAI: India will impose a tax of 30% on income from cryptocurrencies and other digital assets, Indian Finance Minister Nirmala Sitharaman said while presenting the federal budget on Tuesday. Aside from placing earnings from cryptocurrencies and non-fungible tokens (NFTs) in India’s highest tax band, Sitharaman also said losses from their sale could not be…
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UAE to introduce corporate tax next year: finance ministry
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[ad_1] — AFP/File DUBAI: The United Arab Emirates will introduce a corporate tax from mid-2023, the finance ministry said Monday, in a major change of course as the country seeks to diversify its income. The Gulf financial centre, long known as a tax haven and the regional headquarters for a swathe of multinationals, will tax…
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FBR mulling strategy to bring transparency in tax system
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[ad_1] Federal Minister for Finance and Revenue Shaukat Tarin addressing a press conference in Islamabad. — YouTube screengrab ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Monday said the Federal Board of Revenue (FBR) is taking steps to bring transparency and simplification in the tax system of Pakistan. Inaugurating the Parliamentarians Tax Directory…
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Auto Policy 2021-26: Sales tax slashed on local electric vehicles
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[ad_1] File photo ISLAMABAD: The government on Wednesday announced a new Auto Industry Development and Export Policy (AIDEP 2021-26) under which sales tax on local electric vehicles (EVs) has been slashed from 17% to 1%. The policy aims to promote small cars, localisation, incentivise introduction of new products in tractors and motorcycles, consumer protection, and…
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PM Imran Khan felicitates FBR for achieving tax collection target
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[ad_1] — AFP/File ISLAMABAD: Prime Minister Imran Khan on Saturday praised the Federal Board of Revenue (FBR) for exceeding the monthly tax collection target during the outgoing month. The premier wrote on Twitter: “I want to congratulate FBR for achieving tax collection of Rs1,840 [billion] for July/Oct, which is 37% higher than last year.” He…
