Tag Archives: budget proposals 2017/2018

Budget Proposals 2017/2018: PBC recommends changes to Alternate Corporate Tax

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KARACHI: Pakistan Business Council (PBC) has recommended changes in Alternate Corporate Tax (ACT) saying that the current regime will discourage / penalize investment in the manufacturing sector.

Budget Proposals 2017/2018: PBC terms super tax unconstitutional

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KARACHI: Pakistan Business Council (PBC) has termed that the imposition of super tax is unconstitutional and against the spirit of reduction of corporate income tax rate policy of the government.

Budget Proposals 2017/2018: APTMA proposes duty, tax free import of 4m cotton bales annually

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ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has proposed the government to allow import of duty and tax free 4 million bales of cotton per annum.

Cost of transactions for non-filers to be increased further in budget 2017/2018

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ISLAMABAD: Federal Board of Revenue (FBR) is likely to enhance withholding tax rates on non-filers in order to increase the cost of transactions and compelling them to file annual income tax returns and wealth statements.

PPP presents shadow budget: demands 25pc increase in salary; collection of ST services, goods by provinces

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ISLAMABAD: Pakistan People’s Party on Tuesday called for a 25 percent increase in pay and pension, minimum wages of Rs 18,000 pm and a separate fund for social protection of vulnerable groups and including transgender in the poverty alleviation flagship Benazir Income Support Program (BISP).

Budget Proposals 2017/2018: FPCCI seeks zero-rate sales tax for rice sector

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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested zero-rate of sales tax for rice sector, which is the second largest export oriented after textile.

Budget Proposals 2017/2018: Initial depreciation allowance at 50pc for plants and machinery recommended

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KARACHI: Textile industry has proposed 50 percent initial depreciation allowance rate for plants and machinery as was the case prior to the Finance Act, 2014.

Pakistan Dairy Association meets FM, presents budget proposals

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ISLAMABAD: A delegation of the Pakistan Dairy Association comprising Pakistan Dairy Association included representatives of Nestle, Engro Foods, Shakarganj Mills, Fauji Foods, Packages Limited and Everfresh Farms called on the Finance Minister Senator Mohammad Ishaq Dar on Sunday and presented budget-related proposals and tax-related matters on behalf of the dairy sector, which were discussed in detail during the meeting.

Commerce ministry presents tax proposals

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ISLAMABAD: Ministry of Commerce on Sunday presented its budget proposals for 2017/2018 to Finance Minister Senator Mohammad Ishaq Dar for improvement in trade and exports.

Budget Proposals 2017/2018: FBR should respect withholding agents, allow some waivers

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KARACHI: Textile industry has urged the Federal Board of Revenue (FBR) to respect withholding agents and allow some tax credits/incentives or waiver of default surcharge/penalties especially in respect of raw material / manufacturing goods.