tax
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Govt can reduce tax burden on people consuming up to 300 units: Miftah
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[ad_1] Former finance minister Miftah Ismail. — Radio Pakistan/File Former finance minister Miftah Ismail on Saturday claimed that the caretaker government could reduce the tax burden on domestic consumers using up to 300 units of electricity. Reacting to the countrywide protests against the inflated electricity bills, the former finance minister revealed that the incumbent government…
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KCCI slams FBR for slapping tax on immovable property | The Express Tribune
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[ad_1] KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has slammed the Federal Board of Revenue (FBR) for its “discriminatory attitude” as it has imposed a tax on sale or transfer of immovable property in Karachi while the same tax has been withdrawn in Punjab. KCCI President Mohammed Tariq Yousuf demanded a similar treatment…
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Tax reforms commission unceremoniously sent packing | The Express Tribune
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[ad_1] ISLAMABAD: The much-trumpeted Reforms and Resource Mobilisation Commission (RRMC) was unceremoniously sent packing by the last government without giving it time to complete a final report, adding another name to a long list of failed attempts to reform the outdated and shallow taxation system. The RRMC could not make its impact in the absence…
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Miftah Ismail stresses need to tax real estate sector
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[ad_1] Former finance minister Miftah Ismail addressing a press conference. — APP/File Former finance minister Miftah Ismail said Saturday that there was a need to impose taxes on the real estate sector to generate more revenue for the country and ensure that prices of properties do not inflate. “Real estate is a big sector for…
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Govt raises withholding tax rate for non-filers
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[ad_1] A representational image of taxes. — AFP/File To encourage people to file taxes, the Federal Board of Revenue (FBR) has increased the withholding tax rate for non-activate tax filers or those not on the Active Taxpayers List (ATL). According to a Wednesday circular, non-ATL filers will be taxed Rs303 for a bank withdrawal of Rs50,500.…
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LHC upholds legality of super tax, reduces rate to 4% | The Express Tribune
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[ad_1] LAHORE: In a significant ruling, the Lahore High Court on Tuesday upheld the legality of the super tax that was imposed by the federal government last year, Express News reported. The court’s decision comes in response to several petitions filed against the tax’s enforcement. According to Express News, over 350 petitioners approached the court…
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Govt moves to exempt overseas Pakistanis from final tax on property
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[ad_1] A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, May 19, 2022. — AFP/File Finance Minister Ishaq Dar has proposed abolishing 2% final tax on the purchase of immovable property for overseas Pakistanis in the federal budget for the fiscal year 2023-24 to boost the remittances through formal channels amid…
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Finance minister calls for realising true tax potential | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar has stressed the need for stepping up efforts to realise the “true tax potential” existed in the country and lent full support to the revenue collecting authority in performing its duties. The minister put emphasis on increasing tax receipts at a meeting he chaired to discuss revenue collecting performance…
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Tax incentives demanded | The Express Tribune
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[ad_1] LAHORE: Pakistan’s women entrepreneurs have unanimously called for a separate entrepreneurship policy for women in the country. The demand came up at an online consultative session arranged by SMEDA, and was attended by female entrepreneurs from across the country. The entrepreneurs complained that women have no special tax incentives and that they bear a…
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To tax or not to tax | The Express Tribune
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[ad_1] On February 20, while speaking on the sidelines of Munich Security Conference, IMF Managing Director Kristalina Georgieva said: “For Pakistan, I want to stress that we are emphasising two things: One, tax revenues – those who can, those making good money in public or private sector, need to contribute to the economy. Two, to…
