Import duties on mobile phones raised by 15%: Report
Also, a stipulation of Type Approval has also been enforced on the import of used mobile phones and according to KEDA President Muhammad Rizwan, this could result in government raising prices by as much as Rs20,000
Govt willing to scrap 0.02% advance tax on sale & purchase of shares
According to a Finance Ministry summary, it has recommended that Section 65C of the Income Tax Ordinance (ITO) permits incentives for listing by entities via tax credits and this can be further augmented to urge new listings
FBR forwards recommendation to Finance Ministry for clearance of tax refunds
One of the suggestions under consideration is to launch a three-year negotiable security bond worth over Rs80 billion in different phases via the central bank, added the sources
FBR claims recovery of Rs167m from Pakistanis owning foreign assets
FBR chief tells apex court notices have been issued for recovery of additional Rs147m
Tax collection grows 3.5% year-on-year, touches Rs1.79 trillion
The July-December FY18-19 collection is equivalent to 41% of the yearly target of Rs4.4 trillion
Tax department likely to go through major reform
The Imran Khan led government is also considering introducing technology-based solutions for the identification of tax evasions and enhance transparency
FBR to extend EPOS to retail stores and shopping malls
The tax department has informed the International Monetary Fund (IMF) that the government will extend the EPOS to retail chain stores and shopping malls till March 2019
Govt mulling reducing withholding tax rates on banking transactions: Report
In several documents, the government admitted the levying of withholding tax is a huge obstacle to the growth of the banking sector
Legal cigarette sales decline 7.4% in 2017: Oxford Economics
According to the report, actual government revenues were estimated to have increased by 8.3 per cent in fiscal year 2017/18, underpinned by an acceleration in legal domestic sales, which rose by an estimated 73.9% over the same period
Govt tells IMF it may levy federal excise duty on domestic and imported cars
With a blend of new taxes and rupee devaluation, the tax collection could increase to Rs4.5 trillion during the current financial year, Rs5.8 trillion by June 2020 and Rs7 trillion by June 2020, respectively
Govt willing to levy Rs190 billion additional taxes in exchange for IMF bailout
Besides these additional Rs190 billion revenue measures, the authorities have suggested that quasi-fiscal losses will be slashed by Rs380 billion during the current financial year
Number of taxpayers have risen by 30% in last one year: Hammad Azhar
The minister said it had been decided to translate the Federal Board of Revenue policies and tax laws into Urdu for making the tax system easier to comprehend for the common man
Landlords found evading taxes, sent notices by FBR
It has come to the fore, that three out of four people who were declaring agriculture as the source of income aren’t paying tax on agriculture income in provinces
Overseas Pakistanis liable to pay tax on bringing more than one mobile phone : Chaudhary
Chaudhary said a 38% duty will be levied on costlier mobile phones
NAB to expand investigation into Rs60 billion tax evasion by cigarette industry
The Auditor General of Pakistan (AGP) office said the cigarette industry was involved in tax evasion to the tune of Rs33 billion