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Govt to slash turnover tax from 1.5pc to 0.5pc

National
May 25, 2021
ISLAMABAD: The government is contemplating upon different options to provide relief to the country’s giant multinational companies including slashing down turnover tax from the existing rate of 1.5 per cent to 0.5 per cent in the upcoming budget.
On a unanimous charter of demands presented by three chambers including Overseas International Chambers of Commerce and Industries (OICCI), Pakistan Business Council (PBC) and American Business Council (ABC) during their virtual meeting with Federal Minister for Finance Shaukat Tarin on Monday, they tabled 10 major demands and reduction in the turnover tax at the existing rate of 1.5 per cent was described as a matter of their survival so they demanded reducing it to 0.5 per cent in the upcoming budget. The FBR high-ups were also present in the meeting. ....

United States , Shaukat Tarin , Abdul Razak Dawood , Pakistan Business Council , Economic Advisory Council , American Business Council , International Chambers Of Commerce , Pakistan Chamber , Pak Us Business Council , Investment Chamber , Overseas International Chambers , Federal Minister , Finance Shaukat Tarin , General Sales Tax , Afghan Transit Trade , Through Finance Act , Finance Act , Sales Tax Act , Customs Act , Taxation Regime , Advance Tax , Green Leaf Threshing Process , Custom Act , Revenue Shaukat Tarin , Overseas Investment Chamber , Commerce Abdul Razak Dawood ,

Federal budget to be presented on June 11: Tarin

Daily Times
Says govt’s economic policies impact to be witnessed in budget
May 25, 2021
ISLAMABAD: Minister for Finance and Revenue Shaukat Tarin has said the impact of PTI government’s prudent economic policies would be witnessed in the upcoming budget.
In an interview with a private news channel, he said the federal budget would be presented in the National Assembly on 11th of next month and it would provide relief to the poor segment of society. The minister said government is focusing on further enhancing exports, revenue collections, and many administrative measures in a bid to achieve sustainable economic growth. ....

Shaukat Tarin , Pakistan Business Council , National Assembly , Pak Us Business Council , Investment Chamber , Revenue Shaukat Tarin , Overseas Investment Chamber , ஷௌுகத் தாரின் , பாக்கிஸ்தான் வணிக சபை , தேசிய சட்டசபை , பக் எங்களுக்கு வணிக சபை , முதலீடு அறை , ஓவர்‌ஸீஸ் முதலீடு அறை ,

Govt pitches Rs5.8tr tax target

Govt pitches Rs5.8tr tax target
Informs IMF about proposals of Rs350b additional taxes, 10% hike in salaries
ISLAMABAD:
Pakistan on Monday informed the International Monetary Fund (IMF) that it plans to give 10% raise in salaries over and above a disparity allowance and pitched a Rs5.8-trillion tax target for the next fiscal year.
The government also proposed to levy Rs350 billion worth of additional taxes in the budget including Rs81 billion measures that have already been implemented through a mini-budget. The Rs350 billion worth of additional revenue measures are nearly half of what former finance minister Dr Abdul Hafeez Shaikh had agreed with the IMF in March this year. ....

Abdul Hafeez Shaikh , National Accounts Committee , Pakistan Business Council , International Monetary Fund , Pak Us Business Council , Investment Chamber , State Bank , Presidential Ordinance , Minister Shaukat Tarin , Overseas Investment Chamber , Special Economic Zones , அப்துல் ஹபீஸ் ஷேக் , தேசிய கணக்குகள் குழு , பாக்கிஸ்தான் வணிக சபை , சர்வதேச பண நிதி , பக் எங்களுக்கு வணிக சபை , முதலீடு அறை , நிலை வங்கி , ப்ரெஸிடெந்ஶியல் ஆர்டிநந்ஸ் , ஓவர்‌ஸீஸ் முதலீடு அறை , சிறப்பு பொருளாதார ஸோந்ஸ் ,

Next budget envisages all-inclusive sustainable economic growth: Tarin - Newspaper

Finance Minister Shaukat Tarin assured business groups that most of their proposals were already on priority of the government which firmly believed in a pro-people budget by following a consultative process with all stakeholders on board. Photo courtesy Radio Pakistan/ File
ISLAMABAD: Finance Minister Shaukat Tarin on Monday said the government will announce a growth-oriented and business-friendly budget for 2021-22, provide relief to the common man and encourage self-assessment and incentivise businessmen and traders to pay taxes in line with best international practices.
Mr Tarin was speaking at a pre-budget consultative meeting with representatives of Pakistan Business Council (PBC), Pak-US Business Council (PUBC), Overseas Investment Chamber of Commerce and Industry (OICCI) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) through a video link. ....

Waqar Masood Khan , Jasim Ahmed , Abdul Razak Dawood , Economic Advisory Council , Pakistan Business Council , Federation Of Pakistan Chambers Commerce , Investment Chamber , Pak Us Business Council , Finance Minister Shaukat Tarin , Overseas Investment Chamber , Pakistan Chambers , Adviser Abdul Razak Dawood , Federal Board , Chairman Asim Ahmed , வகார் மசூட் காந் , அப்துல் ர்யாஸக் தாவூத் , பாக்கிஸ்தான் வணிக சபை , கூட்டமைப்பு ஆஃப் பாக்கிஸ்தான் அறைகள் வர்த்தகம் , முதலீடு அறை , பக் எங்களுக்கு வணிக சபை , ஓவர்‌ஸீஸ் முதலீடு அறை , பாக்கிஸ்தான் அறைகள் , கூட்டாட்சியின் பலகை ,

Govt to slash down turnover tax from 1.5pc to 0.5pc

National
May 25, 2021
ISLAMABAD: The government is contemplating upon different options to provide relief to the country’s giant multinational companies including slashing down turnover tax from the existing rate of 1.5 per cent to 0.5 per cent in the upcoming budget.
On a unanimous charter of demands presented by three chambers including Overseas International Chambers of Commerce and Industries (OICCI), Pakistan Business Council (PBC) and American Business Council (ABC) during their virtual meeting with Federal Minister for Finance Shaukat Tarin on Monday, they tabled 10 major demands and reduction in the turnover tax at the existing rate of 1.5 per cent was described as a matter of their survival so they demanded reducing it to 0.5 per cent in the upcoming budget. The FBR high-ups were also present in the meeting. All three chambers were unanimous in their demand that this turnover tax should be imposed on the basis of profits instead of turnover, but the governm ....

United States , Shaukat Tarin , Abdul Razak Dawood , Pakistan Business Council , Economic Advisory Council , American Business Council , International Chambers Of Commerce , Pakistan Chamber , Pak Us Business Council , Investment Chamber , Overseas International Chambers , Federal Minister , Finance Shaukat Tarin , General Sales Tax , Afghan Transit Trade , Through Finance Act , Finance Act , Sales Tax Act , Customs Act , Taxation Regime , Advance Tax , Green Leaf Threshing Process , Custom Act , Revenue Shaukat Tarin , Overseas Investment Chamber , Commerce Abdul Razak Dawood ,