Tag Archives: exemption

PSMA rejects duty, tax exemption to Chinese company, says it will cost Rs11bn to exchequer

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KARACHI: Pakistan Steel Melters Association (PSMA) has rejected the recently issued SRO 47(I)2018, that allows controversial duty and tax exemptions to China State Construction Engineering Corporation Limited. “This exemption of taxes and duty to Chinese company will cost national exchequer approximately Rs11 billion,” said a statement on Wednesday.

SRB allows exemption to polio eradication advertisement

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KARACHI: Sindh Revenue Board (SRB) has issued notification to allow exemption from sales tax on service provided through advertisements conveying public service message in relation to polio eradication program by UNICEF.

FBR allows withholding tax exemption on import of Rs10,898,000 million construction material by Chinese company

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ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemption from withholding income tax to a Chinese company on import of construction material amounting up to Rs10,898,000 million.

Communication ministry to provide details of exempted imports by Chinese companies for Motorways

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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday made it mandatory for ministry of communication to provide details of required material and goods imported by Chinese companies at concessionary duty rates for construction of motorway.

Sales tax, customs duty withdrawn on cotton import

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved withdrawal of sales tax and customs duty on import of cotton.

Minimum tax exemption granted to public sector universities

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ISLAMABAD: The federal government has allowed exemption from the levy of minimum tax on public sector universities. The decision to allow exemption has been taken at a meeting of Economic Coordination Committee (ECC) of the cabinet held a day earlier.

Duty, tax exemption granted to funds for AIDS, TB and Malaria

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ISLAMABAD: The federal government has granted exemption from duty and taxes on grant received from global fund to fight AIDS, TB and Malaria (GFATM).

FBR allows exemptions and concessions on solar panels import

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ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemptions and concessions on import of solar panels by deleting it from the list of locally manufactured items.

FBR exempts additional customs duty on warehoused imported goods

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ISLAMABAD: Federal Board of Revenue (FBR) has exempted the additional customs duty leviable as surcharge as is in excess of 0.25 percent of the value on the imported goods warehoused under the Safe Transportation Scheme in terms of Customs General Order (CGO) 12 of 2002.

IT startup businesses exempted from income tax for three years

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KARACHI: The government has introduced the concept of startup business for promotion of technology driven products and services and allowed income tax exemption for such activities for initial three years.