Daily Archives: April 16, 2018

SBP issues procedure for payment, deposit of tax in US Dollar under amnesty for undeclared foreign assets

KARACHI: State Bank of Pakistan (SBP) on Monday issued procedure for payment and deposit of tax in US dollars and repatriation of liquid assets in Pakistan under tax amnesty scheme for offshore undisclosed assets.

Karachi Chamber demands reducing duty, taxes on dry milk

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has demanded the government of reducing duties and taxes on dry milk in order to encourage legal imports and encounter smuggling.

CPEC related activities to broaden tax base, generate more revenue: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has said increased economic activities under China – Pakistan Economic Corridor (CPEC) will help in broadening of tax base and generate more revenue.

PBC suggests 0.2pc withholding tax on FMCG distributors

KARACHI: Pakistan Business Council (PBC) has proposed measures for reducing cost of doing business in the country and suggested that rates for withholding tax on Fast Moving Consumer Goods (FMCG) distributors should be reduced to 0.2 percent in line with Section 113 of the Income Tax Ordinance, 2001.

Customs tariff structure review suggested for removing anomalies

KARACHI: Pakistan Business Council (PBC) has urged the Federal Board of Revenue (FBR) to review the customs tariff structure to remove anomalies. The problem has become acute with the imposition of regulatory duties.