Tax

PM Imran, businessmen agree to expand tax base

PM Imran, businessmen agree to expand tax base

KARACHI (Dunya News) – Prime Minister Imran Khan on Sunday met delegation of Pakistan Stock Exchange led by its Chairman Sulaiman Mehdi in Karachi. Officials of PSX and stock brokers were part of the delegation.During the meeting, the prime minister said that vast opportunities of investment are available in Pakistan, adding that foreign investors are […]

Cigarette industry: NAB to extend probe into Rs60-billion tax evasion

Cigarette industry: NAB to extend probe into Rs60-billion tax evasion

ISLAMABAD:The Regional Board, Rawalpindi of the National Accountability Bureau (NAB) has sent details of Rs60-billion tax evasion by the cigarette industry to NAB headquarters for further probe.Sources told The Express Tribune that the Regional Board in its meeting reviewed the case and decided that NAB should investigate it further as the magnitude of the tax […]

Cabinet decides to withdraw FBR’s tax policy powers

Cabinet decides to withdraw FBR’s tax policy powers

ISLAMABAD:The federal cabinet on Thursday decided, in principle, to separate tax policy from administration amid half-hearted support from the Federal Board of Revenue (FBR) that did not want to abolish its policy wing even after its transfer to the Finance Division.The subject of tax policy will be transferred to the Finance Division from the Revenue Division, […]

All provinces, except Sindh, fail to boost tax revenues

All provinces, except Sindh, fail to boost tax revenues

ISLAMABAD:The share of provincial taxes in total revenues has slipped to only 11% in the first quarter as all the federating units, except for Sindh, could not boost revenues, increasing their reliance on National Finance Commission (NFC) transfers to meet expenditures.From July through September of the current fiscal year, the four provinces cumulatively collected Rs88.6 […]

Massive tax leakages found in sugar industry, ECC told

Massive tax leakages found in sugar industry, ECC told

ISLAMABAD: The government of Pakistan Tehreek-e-Insaf (PTI) has unearthed massive tax evasion by the sugar industry and is in the process of adding molasses to the list of goods that cannot be sold to unregistered persons in order to plug tax leakages.Sources told The Express Tribune that it was brought to the notice of Economic Coordination […]

Finance minister dissatisfied with FBR’s tax widening drive

Finance minister dissatisfied with FBR’s tax widening drive

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government is failing in its two key goals – broadening a narrow tax base and enhancing revenue collection, which has started displeasing Finance Minister Asad Umar who on Thursday sought an explanation for apparent breakdown of the tax machinery.Umar expressed dissatisfaction over the Federal Board of Revenue’s (FBR) performance in the […]

Price disparity: Tax cut on LPG imports turns locally produced gas expensive

Price disparity: Tax cut on LPG imports turns locally produced gas expensive

KARACHI: The government’s decision on reducing taxes on the import of liquefied petroleum gas (LPG) has liberalised imports and made the locally produced gas very expensive.The reduction in taxes has made imported gas cheaper by up to Rs21 per kilogramme to Rs95 for the distributors compared to the one locally produced and sold at Rs116 per […]

SC suspends service charge tax on mobile services

SC suspends service charge tax on mobile services

ISLAMABAD : The Supreme Court of Pakistan on Tuesday suspended the service charge tax collected by cell phone companies on post-paid mobile services.Chief Justice Saqib Nisar presided over the hearing pertaining to additional taxes charged by mobile phone companies. Top court suspends ‘exorbitant’ tax on prepaid mobile bills “Punjab is incurring a loss of Rs2 billion the due […]

Govt hints at partially restoring curbs on non-filers of tax returns

Govt hints at partially restoring curbs on non-filers of tax returns

ISLAMABAD: The government on Monday hinted at partially restoring the ban on purchase of new cars and property by non-filers of tax returns as it struggled hard to convince opposition that its mini-budget would not throw Pakistan back into an era of low growth and high inflation.On the first day of scrutiny of the mini-budget, the […]

After London, now Dubai properties also in tax spotlight

After London, now Dubai properties also in tax spotlight

ISLAMABAD: A day after announcing receipt of all property related data in London, the Federal Board of Revenue claimed on Tuesday that it has received particulars of Pakistani nationals who have undeclared properties in Dubai. A senior official of the FBR said the data includes quantum of rental income earned from these properties. The data […]

Suspension of tax deductions on cellphone top-up cards will remain till next orders: CJP

Suspension of tax deductions on cellphone top-up cards will remain till next orders: CJP

Chief Justice of Pakistan (CJP) Mian Saqib Nisar on Thursday said that the Supreme Court’s directives barring the deduction of taxes imposed on the top-up of prepaid cards has not expired and that it will continue to hold until the court delivers a second order in the case, DawnNewsTV reported. On June 11, the apex court had restrained the […]