Tag Archives: Tax Proposals 2016/2017
KARACHI: Banking companies have demanded collection charges for deducting withholding tax at two percent for rendering services to Federal Board of Revenue (FBR).
Curbing whitening of money: Amendments to Protection of Economic Reform Act, Income Tax law suggested
KARACHI: The government has been urged to amend income tax laws and Protection of Economic Reform Act (PERA) to curb the rampant practice of whitening of money under the umbrella of such laws.
KARACHI: The government may increase introduce up to 100 percent increase in sales tax on import of certain category of mobile phones in the budget 2016/2017.
ISLAMABAD: The head office of Federal Board of Revenue (FBR) is remained closed on Monday May 30, 2016 for budget 2016/2017 exercise.
KARACHI: The business community demanded the government that purchase of machinery parts, fuel and other items used in the manufacturing of zero rated products and goods should be zero rated as well.
KARACHI: The minimum threshold for the purpose of income tax on salaried person has been proposed to increase from Rs400,00 to Rs500,000. Presently, the salary individual earning annual income up to Rs400,000 has been exempted from the levy of income tax.
KARACHI: The foreign investors urged the government that a rebate of five percent should be given to companies who are issuing electronic invoices in order to encourage documented collection of duty and taxes.
KARACHI: The taxpayers have recommended the tax authorities to exempt levy of all withholding tax on plant and machinery, at import stage to attract new foreign direct.
KARACHI: The business community has suggested that exemption certificate should be issued on import of machinery by industrial undertaking which must be free of prescribed time limit.
KARACHI: Salaried persons should be given income tax exemption in the budget 2016/2017 and the government should take harsh action against tax evaders, Liaquat Sahi, Labour Leader said on Saturday.