KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested the government to reduce tax rates on the existing taxpayers and broaden the base to achieve 6 per cent GDP growth in the next two years, a statement said on Saturday. Addressing a meeting to discuss the upcoming budget 2021/22, Mian Anjum … Read more
The mobile phone industry in Pakistan has reportedly suffered due to lockdown and declining purchasing power of the people during the Coronavirus pandemic. According to the details, markets have been closed for 8 months, taxes have increased by 25% whereas imports have decreased by 50%. Sources related to the mobile phone industry in Pakistan said … Read more
Many cities, states, and nations in the US are working to impose heavy tariffs on sugars. They consider it a potential way to improve public health in their communities. A recent study reveals that taxes on sugary drinks have led to major health gains and a decrease in healthcare costs. The number of benefits depends … Read more
Punjab government has decided to waive off taxes amounting to 18 billion rupees besides distribution of 4000 rupees among 2.5 million families across the province. Chief Minister Usman Ahmad Buzdar said ten billion rupees allocated for poor people affected by lockdown in the wake of coronavirus pandemic. Chief Minister said employment of a large number … Read more
India’s Gross Domestic Product (GDP) growth has slipped to a 26-quarter low of 4.5 per cent in the second quarter (July-September) of the current fiscal, data released by National Statistical Office (NSO). The GDP growth rate has now slowed for the sixth consecutive quarter with the previous low recorded at 4.3 per cent in March … Read more
The Federal Board of Revenue (FBR) has decided in principle to move towards replacing the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for all sectors under the World Bank funded loan conditions. Under the proposed reform plan on which the implementation was so far deferred till establishment of Pakistan … Read more
Two-day shutter down strike is underway by the business community and traders across the country against the government’s enforcement of taxes and the condition of identity cards. Karachi, Lahore, Islamabad, Rawalpindi and Faisalabad are important markets in all the major cities, sources said. In Karachi, several markets and bazaars have been called by the Electronic … Read more
