Business & Industry

The government has imposed a tax of 75 paisas on mobile calls that exceed five minutes. During the wind-up Budget speech 2021-2022, the Minister for Finance, Shaukat Tareen, said that there will be no tax on the Internet and SMS, but a tax of 75 paisas will be charged on mobile calls that are longer

Finance Minister, Shaukat Tarin in his wind-up speech on Friday, announced that the income tax exemption on medical allowance for employees will be restored. He also announced the withdrawal of the Rs. 10 billion in taxes imposed on the salaried class. The budget announcement had revealed that the government implemented income tax on the expenditures

In line with its objectives for creating a competitive and conducive playing field and to diversify the range of the Exchange Traded Funds (ETFs) available to investors, the Securities and Exchange Commission of Pakistan (SECP) has specified the framework for the issuance of Debt and Hybrid ETFs through Circular No. 20 of 2021. The circular

The incumbent government is aiming to double the IT industry in two years by setting up tech zones across Pakistani. These zones will offer tax breaks to investors, Bloomberg reported. Earlier this year in January, the government had transferred 150 acres of land to the Special Technology Zone Authority (STZA) for setting up a special zone

The Federal Board of Revenue (FBR) will make it mandatory for any person or firm desirous of operating a customs warehouse to declare a bank statement showing sufficient funds in the bank account to cover the amount of duty/taxes leviable on the purported imports. The FBR has proposed amendments in the Customs Rules 2001 through

The Council of Common Interest (CCI) unanimously approved the National Electricity Policy, 2021. The decision came during a meeting held under the chair of Prime Minister Imran Khan. Speaking at a press conference after the meeting, Minister for Energy, Hammad Azhar, said that the new electricity policy would be effective for ten years. He was

Senate Standing Committee on Finance has shown displeasure over the treatment of the Federal Board of Revenue (FBR) and National Accountability Bureau (NAB) towards the business community and the chairman of the committee disclosed that the FBR has issued notices of tax demands of Rs 1.5 trillion during last one and a half months. While

The Federal Government has exempted Special Economic Zones (SEZs) from minimum turnover tax. The Special Economic Zones (SEZ) Act, 2012, had already exempted SEZs from all taxes, but some Chinese and other investors had complained that they are still being charged turnover taxes, Business Recorder reported on Monday. During the 6th meeting of the Board of

The government has decided to abolish the tax on the import of point-of-sale (POS) machines, and large retail stores will now be able to import duty-free machines. This was stated by the Federal Board of Revenue (FBR) during a briefing of the Senate Standing Committee on Finance. A meeting of the Senate Standing Committee on