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 government indicate
OICCI asks govt to harmonise GST on goods, services
National
April 26, 2021
ISLAMABAD: The Overseas International Chamber of Commerce and Industries (OICCI) has asked the government to harmonize the General Sales Tax (GST) on both goods and services and reduce its rate from 17 percent to 13 percent for the upcoming budget 2021-22.
The OICCI is the collective voice of the top 200 foreign investors in Pakistan belonging to 35 countries who, as a group, are among the largest stakeholders in the economy of Pakistan. The OICCI members contribute roughly one-third of the total tax revenue collection and are among the largest investors.
According to the tax proposals forwarded by the OICCI to the FBR and Ministry of Finance, the sales tax rates (federal and provincial), both on goods and services, should be harmonized throughout the country and be aligned to 13pc charged in Sindh. Moreover, only one tax return should be filed with FBR.
OICCI seeks to harmonise GST on both goods, services
National
April 26, 2021
ISLAMABAD: The Overseas International Chamber of Commerce and Industries (OICCI) has asked the government to harmonize the General Sales Tax (GST) on both goods and services and reduce its rate from 17 percent to 13 percent for the upcoming budget 2021-22.
The OICCI is the collective voice of the top 200 foreign investors in Pakistan belonging to 35 countries who, as a group, are among the largest stakeholders in the economy of Pakistan. The OICCI members contribute roughly one-third of the total tax revenue collection and are among the largest investors.
According to the tax proposals forwarded by the OICCI to the FBR and Ministry of Finance, the sales tax rates (federal and provincial), both on goods and services, should be harmonized throughout the country and be aligned to 13pc charged in Sindh. Moreover, only one tax return should be filed with FBR.
adjustment tax that taxes imports even for american producing companies like wal-mart. or. to wal-mart because they are the biggest they import a good many goods from abroad. reply them resell them repackage them they need these international supply lines without them they don t make a profit so it hurts american businesses in the long run the border adjustment tax because every import becomes more expensive in a situation where the american economy is not producing too many goods as we all know there are. importing alliance and thereby violate international trade all right well i m still there weren t what about europe s concerns though i mean i asked at the beginning of the show where you re forced to pick up the trump tax tab is there anything that the e.u. can do if it s facing a situation that could create a tax war or trade war i don t think that a tax war is looming because especially continental europe depends on its taxation