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Daily Times July 4 marks the Independence Day of United States of America July 4, 2021 July 4, 1776 has special significance in American history. The great liberation movement against colonial rule was pioneered in this land and founding-fathers of this historic struggle showed the subjugated nations a novel path of hope. They started a new beginning of self-rule. It took a couple hundred years for American society to struggle on all fronts and make its mark as one of the leading nations of the world. For many countries, the United States of America (USA) became a role model in political evol...

Budget 2021-22 and erratic taxation Budget 2021-22 and erratic taxation Perspectives Budget 2021-22 and erratic taxation

Govt announces special tax relief measures Govt announces special tax relief measures, introduces steps to enhance tax to GDP ratio

Daily Times “ A comprehensive strategy has been formulated to shift the gears and move to higher economic growth. I do not believe in an increase in taxes to increase revenue collection but those outside the tax net would be tapped. The chances for any harassment by FBR officials shall be eliminated for which change in audit procedures. 17 percent General Sales Tax rate is very high and a mechanism has been prepared for its reduction and the government was also working on a sales tax system for small businesses….”— Finance Minister, Shaukat Fayaz Ahmed Tarin, in his first testimony ...

Karachi May 11, 2021 KARACHI: Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) has submitted its pre-budget recommendations to the Federal Board of Revenue (FBR), Ministry of Finance, and other Government organizations for consideration in the forthcoming Federal Budget 2021-22. The Fiscal Budget Proposals 2021-22 of the Institute covers not only Tax-related proposals including Income tax, Sales tax, Customs Duty, and Federal Excise but also Sector/Industry related proposals covering around 16 industries. The ICMA budget booklet also has a special chapter on the propo...