FPCCI proposes amendment to WHT on promotional material

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested amendment in Section 156 for withholding tax on promotional material; however 20 percent tax chargeable on prizes given to the consumers while considering it as business income; which is harsh and unjustifiable.

National chamber demands exemption on income of WPPF; WWF

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded to exempt income of the workers’ profit participation fund (WPPF) and Workers Welfare Fund (WWF) as it benefits of their workers to build schools; hospitals etc.

Empower ADRC to resolve disputes before finalization of assessment

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended that alternative dispute resolution committee (ADRC) should be made binding on the Federal Board of Revenue (FBR) in order to resolve disputes prior to finalization of assessment.

WHT rates proposed for commercial gas; electricity consumers

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed withholding tax rate at five percent and 7.5 percent for commercial/industrial gas and electricity consumers.

FPCCI suggests withholding tax adjustments on profit on debt

KARACHI: The national chamber has suggested to allow withholding tax adjustment on profit on debt and dividend income.

FPCCI suggests amendment to group taxation

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed amendments to Income Tax Ordinance, 2001 regarding group taxation and group relief in order to bring at par with the other regional and global countries.

FPCCI advocates moving to normal tax regime

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has advocated moving to normal tax regime from final tax regime.

FPCCI recommends reduced corporate rate for SMEs

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested reduced corporate rate of 20 percent for small and medium enterprises (SMEs) in order to promote this sector.

FBR urged to reduce capital gain tax to 10pc for filers

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce capital gain tax on securities to 10 percent from 15 percent in case of income tax return filers.

Restoration of FTR for builders, developers suggested

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended restoration of fixed tax regime (FTR) for builders and developers.