Taxing wealth created in real estate, stock market advised


ISLAMABAD: The government has been advised to tax the wealth created in real estate and stock market besides there is need to lower corporate taxes.

FBR making all out efforts to achieve tax collection target: Dr. Irshad


ISLAMABAD: Dr. Muhammad Irshad, Chairman, Federal Board of Revenue (FBR) on Saturday that the revenue body is making all out efforts for reaching the current year tax collection target of Rs3,621 billion.

Rebasing the GDP exercise underway to capture emerging sectors: Finance Minister

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Saturday said that an exercise of rebasing the GDP is ongoing as many new sectors are emerging in the economy and they have not been covered in current statistics.

Budget Proposals 2017/2018: Temporary moratorium on FTAs recommended


KARACHI: Pakistan Business Council (PBC) has recommended the government to place a temporary moratorium on Free Trade Agreements (FTAs) until the existing are renegotiated. “This would stem the loss of tax revenue and help local industry to build scale, gain competitiveness and generate value-added exports,” PBC said in its budget proposals for budget 2017/2018 sent to Haroon Akhtar, Special Assistant to Prime Minister on Revenue.

Pakistan Customs directs shipping lines to withdraw port congestion charges


KARACHI: Pakistan Customs has directed shipping lines and carriers to immediately withdraw port congestion charges. The directives issued on the request of Karachi Customs Agents Association (KCAA), which strongly criticized the imposition of port congestion charges $150 per 20 TEU and $300 per 40 TEU from March 2017.

APCAA threatens country-wide protest against imposition of port congestion charges


KARACHI: All Pakistan Customs Agents Association (APCCA) has threatened protests across the country against imposition of port congestion charges by the shipping lines in case the penalty is not withdrawn.

Peshawar customs intelligence announces auction of confiscated vehicles on March 29


KARACHI: Directorate General of Intelligence and Investigation (I&I), Customs, Federal Board of Revenue (FBR), Peshawar has announced auction of confiscated vehicles scheduled for March 29, 2017 to be held at State Warehouse of the directorate.

Budget Proposals 2017/2018: 25pc tax rebate recommended for working women with children


KARACHI: Pakistan Business Council (PBC) has proposed 25 percent tax rebate for working women with children in order to reduce the cost of child care for mothers entering full time employment impacting net household income.

Customs to observe extended working hours on March 30, 31 for duty-tax collection


KARACHI: All customs collectorates will observe extended working hours on March 30 and 31 for collection of duty and taxes, said a notification issued by Federal Board of Revenue (FBR).

Budget 2017/2018 likely before Ramazan


ISLAMABAD: The government is likely to present federal budget 2017/2018 ahead of Ramazan or last week of May 2017.
Budget, as earlier decided is proposed to be presented before the National Assembly ahead of Ramazan as would be the Economic Survey 2016/2017. It was decided at a meeting chaired by Federal Minister for Finance Senator Mohammad Ishaq Dar on Wednesday to review state of preparations for the budget 2017-2018.