Gwadar Port Authority starts developing first Free Zone dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
FBR Planning to Remove These Corporate Income Tax Exemptions
The Federal Board of Revenue (FBR) is presently reviewing the following list of corporate income tax exemptions with revenue impact for possible withdrawal before the next fiscal year:
Tax credit for investment in balancing, modernization, and replacement of plant and machinery (corporate manufacturing sector), Rs. 65.168 billion.
Tax credit for enlistment in Stock Exchange (Companies opting for enlistment in a registered stock exchange), Rs. 357 million.
Tax credit for newly established industrial undertakings corporate industrial units (including corporate dairy farming), Rs. 5.573 billion.
Tax credit for industrial undertakings established before the first day of July 2011 (corporate industrial units including corporate dairy farming), Rs. 6.486 billion.
The Unexpected Wrath of Imran Khan
For all of Khan’s nationalist and populist rhetoric, his legacy as Pakistan’s prime minister has been to lay under China’s heels.
In July 2012, former cricketer-turned-politician Imran Khan described his vision for a Pakistani foreign policy on Twitter. “We stand for a nationalist foreign policy which envisages friendly relations with all on basis of reciprocity & in the interest of Pak,” he said in a social media post. Khan was chair of the populist party Pakistan Tehreek-e-Insaf, which he founded in 1996. While his party placed third in general elections in 2013, losing not only to Nawaz Sharif’s Pakistan Muslim League (Nawaz) but also to Asif Ali Zardari’s center-left Pakistan Peoples Party, the elections solidified his status as an up-and-coming political star.