Tag Archives: exemption

FBR allows Rs18bn tax exemption to IPPs business income

ISLAMABAD: Federal Board of Revenue (FBR) has allowed Rs18 billion tax exemption on business income claimed by Independent Power Producers (IPPs) during fiscal year 2017/2018, according to official documents.

ECC approves extension of PM package with Rs65bn annual relief of exemption, concession during next three years

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday approved extension of Prime Minister Export Package with Rs65 billion annual exemption and concessions for manufacturers during next three years.

Import of steel products as raw material allowed reduced duty rate

ISLAMABAD: The federal government has allowed reduced rate of customs duty on import of steel products as raw material by amending existing notification.

Customs duty exempted on import of electric vehicles

ISLAMABAD: The government has exempted the customs duty on import of electric vehicles Completely Buildup Unit (CBU) meant for transport of persons.

FBR grants Rs42.38bn duty exemption for FTA/PTA during 2017/2018

ISLAMABAD: Federal Board of Revenue (FBR) has allowed Rs42.38 billion as duty exemption, concessions for imports under Free Trade Agreements (FTAs) and Preferential Trade Agreement (PTA) during the outgoing fiscal year.

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

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.

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

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

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Sales tax, customs duty withdrawn on cotton import

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

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.