Tag Archives: Finance Bill 2018

FPCCI seeks removal of budget anomalies before NA approval

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is scheduled to meet Prime Minister Shahid Khaqan Abbasi and Finance Minister Dr. Miftah Ismail on Tuesday, May 08, 2018 for removal of anomalies in budget 2018/2019 before its approval from the national assembly.

Finance Bill 2018: Up to Rs5,000 mobile handset levy introduced

KARACHI: The government has introduced new levy up to Rs5,000 as federal excise duty on import of smart phones.

Major amendments to Customs Act 1969 through Finance Bill

KARACHI: The Finance Bill 2018 has recommended major changes to Customs Act, 1969 to be implemented during the fiscal year 2018/2019.

Finance Bill 2018: PTR for commercial importers abolished

KARACHI: The commercial importers have been brought into normal tax regime as the option of presumptive tax regime (PTR) has been abolished through Finance Bill 2018.

Finance Bill 2018: Gifts to non-relatives made taxable transfers

KARACHI: The Finance Bill 2018 has recommended changes in Income Tax Ordinance, 2001 making a gift to any person other than a relative will be a taxable transfer.

Finance Bill 2018: Immovable property, vehicle purchases only by return filers

KARACHI: The government has introduced major changes through Finance Bill 2018 for broadening the tax base and makes it mandatory purchases of immovable properties and vehicles only by filers of income tax returns.

Highlights of Finance Bill 2018

KARACHI: The highlights of Finance Bill 2018 explained by PwC A. F. Ferguson & Co. Chartered Accountants Firm.

Finance Bill 2018: Banks to collect 5pc tax on digital services

ISLAMABAD: Banks are required to collect five percent income tax on gross amount of fee remitting outside for offshore digital services.

Finance Bill 2018: various stationary items allowed zero-rate sales tax

ISLAMABAD: The government has announced sales tax zero-rating regime for various stationary items.

Finance Bill 2018: Orders of Director General I&I IR established validated

ISLAMABAD: The orders passed by Directorate General Intelligence and Investigation (Inland Revenue) have been validated through amendment made to Sales Tax Act 1990.