tax
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Tax policies to support investment sought | The Express Tribune
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[ad_1] LAHORE: Lahore Tax Bar Association (LTBA) newly elected President Shahbaz Siddique has pledged to implement a series of initiatives aimed at promoting strong and mutually beneficial cooperation between Pakistan and China in the field of taxation. Recognising the importance of collaboration between the two countries, he aims to leverage this partnership to drive economic…
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SPARC suggests more tax on cigarette | The Express Tribune
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[ad_1] ISLAMABAD: The Society for the Protection of the Rights of the Child (SPARC) warmly welcomed the appointment of the new finance minister and urged him to consider tobacco taxation as a potential avenue for boosting the economy. Aligning with public health initiatives, the SPARC emphasised the importance of increasing taxes on cigarettes to reduce…
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PWSMA pushes for digital tax fix | The Express Tribune
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[ad_1] ISLAMABAD: Plastic bag manufacturers have blamed the Federal Board of Revenue (FBR) for billions of rupees in annual tax evasion by major commodity producers due to malfunctioning production tracking systems. Industry players have sought the intervention of the new Finance Minister, Muhammad Aurangzeb, who is also advocating end-to-end digitisation of the tax system to…
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Govt mulls help to expand tax base | The Express Tribune
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[ad_1] ISLAMABAD: As the number of active taxpayers further shrinks to 3.4 million, down 41% over the previous year, the government is considering seeking financial assistance from the Bill and Melinda Gates Foundation to improve digital services in the Federal Board of Revenue (FBR). Compared to a week ago, the names of about 500,000 people…
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Income tax filers drop 35% | The Express Tribune
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[ad_1] ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National…
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Edible oil industry advocates tax reform | The Express Tribune
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[ad_1] The government should contemplate imposing a 20-22% sales tax and a 5% income tax on commercial importers to discourage them, said KK Group of Industries CEO Khalid Islam Sheikh. Photo: file KARACHI: Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act,…
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Rs85b tax collected from non-filers | The Express Tribune
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[ad_1] ISLAMABAD: Tax authorities have collected Rs85 billion in six months on account of cash withdrawals and electricity consumption by non-filers of income tax returns, indicating that law violators are mostly concentrated in the two biggest urban centres – Karachi and Lahore. Out of the Rs85 billion collected from non-filers under just two heads, nearly…
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Tax collection: Are banks open this weekend?
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[ad_1] An undated picture of the State Bank of Pakistan’s building. — AFP/File The State Bank of Pakistan (SBP) Friday announced that the “branches of all banks” are to remain open and observe extended working hours on the weekend for tax collection through alternate delivery channels and over-the-counter facilities. The banks, as per the SBP’s…
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Alarm over incorrect tax notices | The Express Tribune
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[ad_1] KARACHI: In a letter addressed to Federal Board of Revenue (FBR) Chairman Amjad Zubair Tiwana, Pakistan Tax Bar Association (PTBA) President Anwar Kashif Mumtaz expressed concerns regarding the automated system’s continued issuance of income tax notices to deceased individuals and businesses that have ceased operations. Despite these companies informing the taxation body about winding…
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WHT agents to directly deposit tax in govt account | The Express Tribune
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[ad_1] ISLAMABAD: To prevent withholding tax (WHT) evasion and promote documentation, the federal government has decided to make it mandatory for withholding agents to immediately and directly deposit the tax collected from suppliers of goods and services in national coffers. The Federal Board of Revenue (FBR) has developed a swift payment receipt system for immediately…
