tax

Best Commercial Property Investments in Pakistan

July 5, 2021

Commercial property is one of the most sought after investment opportunities in Pakistan. It is seen that the demand for commercial properties in Pakistan is increasing by many folds and for all the right reasons. Being a developing country, Pakistan comes with a vast variety of avenues and business opportunities.[...]
Drive for registration of Islamabad estate agencies kicks off

Drive for registration of Islamabad estate agencies kicks off

January 29, 2020

ISLAMABAD: Chief Commissioner Islamabad Amir Ali Ahmed, who is also serving as Secretary Excise & Taxation Department,  has announced the initiation of the much-anticipated drive to register estate agencies and property offices in Islamabad. A delegation consisting of Islamabad Estate Agents Association President Tahir Mehmood, General Secretary Chaudhary Zahid Rafique,[...]
Builders, developers propose measures for increased tax collection

Builders, developers propose measures for increased tax collection

January 1, 2020

ISLAMABAD: A six-member delegation of the Association of Builders and Developers (ABAD) met Advisor to Prime Minister on Finance and Revenues Dr Abdul Hafeez Sheikh to deliberate on different aspects of the real estate and construction sectors. The delegation, headed by Hassan Bakhshi, discussed several proposals to make the market[...]
Tax relief for builders on hold as IMF rejects proposal

Tax relief for builders on hold as IMF rejects proposal

December 4, 2019

ISLAMABAD: The hopes of builders to receive tax concessions suffered a setback as the International Monetary Fund (IMF) dismissed Pakistan’s proposal to introduce a special income tax regime for the construction sector. A simplified tax scheme had been finalised by the government, which included an offer of a 90% reduction[...]
17,000 major retailers on FBR’s tax radar

17,000 major retailers on FBR’s tax radar

November 25, 2019

ISLAMABAD: As many as 17,000 major retailers housed in luxurious shopping malls, retail chains and stores occupying 1,000 square feet or more space are in the spotlight with the Federal Board of Revenue (FBR) announcing a system of direct documentation of due taxes. To curb tax evasion worth billions of[...]
Textile industry awaits refunds worth Rs80 billion

Textile industry awaits refunds worth Rs80 billion

November 17, 2019

KARACHI: Rifts between the government and textile industry continue to widen as the latter issued another warning about the turmoil within the sector due to no-show of refunds worth approximately Rs80 million. All Pakistan Textile Mills Association (APTMA) Chairman Amanullah Kassim held a press conference regarding the matter, where he[...]
Regaining taxpayers’ trust crucial for tax system

Regaining taxpayers’ trust crucial for tax system, says PM

November 14, 2019

ISLAMABAD: Prime Minister Imran Khan has urged the Federal Board of Revenue (FBR) to step up efforts to restore taxpayers’ confidence in the tax system, saying that sweeping reforms were the need of the hour to stabilise Pakistan’s economy. In a meeting with the top officials of the FBR, the[...]
Special tax incentives in sight for construction sector

Special tax incentives in sight for construction sector

November 12, 2019

ISLAMABAD: Prime Minister (PM) Imran Khan acknowledged the contribution of the construction sector in Pakistan’s economy, with the government deciding to provide special tax relief and incentives to businesses and industries related to construction sector and support low-cost housing projects. A meeting was held for discussions on the restoration and[...]
FBR top hierarchy opposes plans to overhaul tax system

FBR top hierarchy opposes plans to overhaul tax system

November 5, 2019

ISLAMABAD: The proposed formation of Pakistan Revenue Authority (PRA) has met with resistance from top quarters of the Federal Board of Revenue (FBR). Prime Minister Imran Khan has given until June 2020 to set up the PRA, with FBR Chairman Shabbar Zaidi envisioning a major overhaul in the country’s tax[...]
Textile sector urges reinstatement of No Payment, No Refund regime

Textile sector urges reinstatement of No Payment, No Refund regime

November 4, 2019

FAISALABAD: With liquid assets drying up fast due to no-show of sales tax refunds, the textile industry is pressing the government to restore the zero-rated facility for the sector to stem the slow demise of a profitable part of Pakistan’s economy. According to Pakistan Hosiery Manufactures & Exporters Association (PHMA)[...]