Tag Archives: budget proposals 2017/2018

Budget Proposals 2017/2018: FBR urged to remove tax ambiguity on prize, winnings

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KARACHI: Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to remove ambiguity in tax on prizes and winnings that are offered by companies for promotion of sale.

Budget Proposals 2017/2018: Tax on SIMs, phone sets should be waived

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KARACHI: Phone operators have urged the government to withdraw tax on issuance of SIMs and handsets to ease difficulties faced by the telecom industry.

Budget Proposals 2017/2018: PSX recommends 20pc corporate rate for SME listed companies

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KARACHI: Pakistan Stock Exchange (PSX) has proposed 20 percent corporate income tax rate for small and medium size listed companies to promote entrepreneurship.

Budget Proposals 2017/2018: 5pc rebate recommended for timely return filing

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KARACHI: Federal Board of Revenue (FBR) has been urged to give rebate of 5 percent as an incentive to taxpayers in timely filing of annual income tax returns.

Budget Proposals 2017/2018: FBR urged not to introduce amnesty scheme

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KARACHI: Federal Board of Revenue (FBR) has been urged not to introduce any amnesty scheme as it was discouraging honest taxpayers.

OICCI recommends flat rate of sales tax on services on phone usage

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KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has proposed that sales tax on services on usage of telephone should be reduced to flat rate of 13 percent from existing 18 percent.

Budget Proposals 2017/2018: Tax credit to new listing should be for five years; 106 companies delisted in four years

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KARACHI: Pakistan Stock Exchange (PSX) has informed the Federal Board of Revenue (FBR) that the existing tax credit is not enough to attract new listing on the stock exchange. The PSX said that the discouraging tax rates resulted in 106 companies delisted against only 31 new listing on the stock exchange.

Budget Proposals 2017/2018: Withholding tax should be rationalized on face value of bonus issue

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KARACHI: Pakistan Stock Exchange (PSX) has urged the Federal Board of Revenue (FBR) impose withholding tax on the face value of the bonus shares as the change to income tax laws will result in Rs50 billion issuance of bonus shares of face value and generate about Rs2.5 billion.

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

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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.

Budget Proposals 2017/2018: FBR urged to reduce number of withholding tax rates to five from 55

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KARACHI: Foreign and multinational companies have urged the Federal Board of Revenue (FBR) to revamp withholding tax regime and reduce the number of tax rates to 5 from 55 rates.