Pakistan News

    Director Of Income Tax Exemption Hyderabad House

  • Income tax exemption limit to be increased

    ISLAMABAD: In a major development, the government has decided to enhance the basic income tax exemption limit to Rs500,000 from the existing Rs400,000 for the salaried class in the budget for the financial year 2016-17, Dawn has learnt...

    Last time, the exemption threshold was increased to Rs400,000 from Rs350,000 in the 2012-13 budget...

  • Weak personal income tax compliance affecting tax culture in Pakistan: report

    ISLAMABAD: A new United Nations report says that the weak personal income tax (PIT) compliance in Pakistan poses serious questions about the accountability and fairness of the system and this in the long run casts a shadow on the efforts to create conducive tax culture in society...

    The importance of closing the per­sonal income tax loopholes exploited by the rich should not be overlooked, says the report released by the United...

  • Printers demand tax exemption on raw materials

    Karachi: Pakistan has a great potential for the growth of printing and graphic arts industry, said Karachi Chamber of Commerce and Industry President Muffasar Atta Malik...

    Inaugurating the 26th edition of the Printpak 2017 at the Expo Centre on Saturday, he said this exhibition is a great platform for networking of local and international companies
  • Karachi tax bar seeks audit exemption for filers

    KARACHI: The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to exempt those tax cases from audit who agree to pay 10 per cent more income tax than declared tax for 2013...

    The FBR recently selected a number of cases for income tax audit for the tax year 2014...

  • Five-year federal tax exemption to be sought for tribal areas

    PESHAWAR: The Khyber Pakhtunkhwa government has decided to formally ask the federal government to exempt Fata and Pata from federal taxes, including sales tax on electricity and retailers, income tax on salary, capital gains tax on property and agriculture income tax, for five years after their merger with the province...

    The decision was made during a consultative meeting attended by the provincial finance secretary, income tax chief...

  • Tax exemption status of Fata, Pata restored

    ISLAMABAD: The federal cabinet on Wednesday restored the tax exemption status of tribal areas as part of the government’s strategy to extend benefits to people...

    “No sales tax will be charged on electricity bills of domestic, commercial and industrial consumers in Fata,” Minister for Information Ali Zafar briefed media after the cabinet meeting...

  • Sales tax exemption for machinery awaiting customs clearance

    ISLAMABAD: The Federal Board of Revenue (FBR) has exempted sales tax on import of textile machinery — piled up at the Karachi ports — to pave way for its clearance...

    SRO996 was issued here by amending the earlier notification to exempt sales tax on import of machinery, not manufactured locally, if imported by textile industrial units...

  • Pakistan still awaiting decision by Saudi govt on exemption of Umrah tax: Religious affairs ministry

    The Ministry of Religious Affairs on Friday issued a statement of clarification regarding an exemption from additional tax for Pakistanis performing more than one Umrah within two years, saying that a reply from the Saudi government in this regard was still awaited...

    The ministry's spokesperson said that the Saudi government had imposed a tax of 2,000 riyals on any individual, from any country, who visited the kingdom more than once...

  • Tax exemption laws for Gwadar port, free zone approved

    ISLAMABAD: The government on Wednesday approved a number of amendments to laws aimed to provide exemptions from income tax, sales tax and custom duties to the Gwadar port and free zone until 2039, but could not decide how to give legal cover to the decision...

    Earlier this year, the Ministry of Maritime Affairs moved a summary seeking changes in and amendments to 17 clauses of the Income Tax Ordinance 2001, the Sales Tax Act, the...

  • Sales tax exemption notified

    ISLAMABAD: The FBR on Monday issued a notification for exemption of sales tax on services of property developers and promoters in the federal capital...

    As per the decision, property developers and promoters as well as allied services of low-cost housing schemes, will not pay any sales tax on services...

  • Avenfield House or ‘tax haven’ house?

    LONDON: The family of former prime minister Nawaz Sharif is not the only resident of Avenfield House on London’s Park Lane who bought their properties through offshore companies incorporated in tax havens...

    According to the UK Land Registry record, the majority of flats in Avenfield House are owned by offshore companies incorporated in tax havens like Panama, the British Virgin Islands and Guernsey...

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