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Small car prices to go down by Rs100,000: Pakistan minister
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Car Production To Go Up To 0 5mln Units By 2025: Khurso
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The GSMA or Global System for Mobile Communications, has written a letter to Finance Minister Shaukat Tarin urging him to consider the removal of Rs0.75 FED per voice call exceeding 5 minutes. Dawn/File
ISLAMABAD: Pressure is mounting on the government for the withdrawal of Federal Excise Duty (FED) on the cellular calls as the GSM Association that represents the interests of mobile network operators worldwide too has asked the finance minister to waive this new duty.
Julian Gorman, GSMA’s head of Asia Pacific, said that the additional FED will have a negative impact on demand and perspective of development for the mobile sector.
Under Finance Act 2021, a new mechanism has been introduced in which the amount of concealed tax should be Rs100 million or above in case of filer and Rs25m or above in case of non-filers. AFP/File
ISLAMABAD: Through introduction of amendments to Income Tax Ordinance, the government has declared concealment of income a cognizable offence and withdrawn the time limitation in probing of past returns of a person having foreign income or assets as part of documentation.
These and other amendments were explained in two different circulars income tax and sales tax released on Thursday with focus on documentation with incentives for big retailers to document their sales and establishment of sustenance markets in border areas.
Pakistan abolishes withholding tax on bank transactions, used cars
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