Author Archives: Anjali

Forex association decides controlling exchange rate in open market

KARACHI: Forex Association of Pakistan on Wednesday announced penalty up to Rs500,000 for members violating agreed rate of dollar in open market.

SRB suspends sales tax registration of M/s. Jiya Enterprises for non-payment, input adjustment on fake invoice

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Jiya Enterprises for claiming input tax against fake invoices and non-payment of tax collected as withholding agent.

FBR urged to rationalize tax on rental income

KARACHI: The Federal Board of Revenue (FBR) has been urged to rationalize tax on rental income from property and investors should be encouraged to declare their genuine income.

Harsh action recommended against officials harassing taxpayers

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended harsh action against officials of Federal Board of Revenue (FBR) found involved in harassing taxpayers.

Industry needs affordable energy to become competitive: KCCI

KARACHI: Industry needs reliable and affordable energy to become productive and competitive besides it should also find an appropriate balance between growing demand for energy and responsibility to protect environment, Muffasar Atta Malik, President, Karachi Chamber of Commerce and Industry (KCCI) said.

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.

Turnover tax should be made zero percent for textile sector

KARACHI: All Pakistan Textile Mills Association (APTMA) has recommended Federal Board of Revenue (FBR) to make turnover tax at zero percent for textile sector for better management of cash liquidity.