Category Archives: Exclusive

Limiting tax exemption proposed to check double benefit

ISLAMABAD: Federal Board of Revenue (FBR) has been recommended to limit exemption under income tax laws in order to put a check upon claim of double benefit.

FBR may introduce taxpayers’ card for reducing refunds

ISLAMABAD: Federal Board of Revenue (FBR) may introduce taxpayers’ smart card for broadening of tax base and reduction of refunds.

Persons holding public office prior July 01, 2000 eligible for amnesty to declare illegal foreign assets

ISLAMABAD: Any person holding public office prior July 01, 2000 is eligible to avail amnesty and declare foreign assets and ill-gotten money in offshore accounts at the reduced rate of tax.

Deposits in foreign currency accounts linked with tax return filling

KARACHI: The government has imposed a ban on depositing cash in foreign currency accounts by resident Pakistanis without filing income tax return.

General tax amnesty at 5pc announced; FBR property valuation to be abolished

ISLAMABAD: The government has announced a general amnesty for regularizing undeclared incomes within Pakistan at the tax rate of five percent.

Amnesty for undeclared foreign assets announced; only filers to be allowed opening FC accounts

ISLAMABAD: The government on Thursday announced an amnesty scheme for declaration and repatriation of foreign assets owned by Pakistanis.

PM announces new tax slabs for salary persons: Rs1.2m annual income exempted

ISLAMABAD: The government has announced the increase the tax exempt amount for salaried persons and individuals to Rs1,200,000 from existing Rs400,000.

Commerce ministry recommends regulatory duty removal on 57 tariff lines, including 47 steel products

KARACHI: The ministry of commerce has recommended withdrawal of regulatory duty on 57 tariff lines out of which 47 tariff lines are of steel products.

Committee recommends amnesty for undeclared foreign assets in three slabs at tax rate of up to 10pc

KARACHI: A committee constituted by Supreme Court of Pakistan (SCP) has recommended an amnesty for undisclosed foreign assets in three slabs at 2 to 10 percent of income tax rates.

Vested interests ruin FPCCI credibility: Dr Mehar

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) as a national chamber has lost its credibility to represent business community and resolve their problems as individuals are using the apex for their vested interests.