RSSCategory: Taxation and Budget

Income Tax Assessment Scheme for Traders

Income Tax Assessment Scheme for Traders

In the Finance Act 2015, the Government had introduced a withholding income tax at the rate of 0.6% on all financial transactions for non-tax filers. In response to the appeal of the traders’ community, the tax rate was reduced to 0.3%. The Government had been holding discussions with the traders to facilitate their smooth entry […]

January 5, 2016 | By More
Highlights of Federal Tax Ombudsman Pakistan Annual Report 2013

Highlights of Federal Tax Ombudsman Pakistan Annual Report 2013

s of the Revenue Division/Federal Board of Revenue and their field offices. The FTO Secretariat is headquartered at Islamabad with Regional Office at Karachi, Lahore, Peshawar and Quetta while offices for more cities are also in the pipeline. The law empowers the FTO to entertain complaints against the FBR officials administering income tax, customs duties, […]

February 22, 2015 | By More
Provincial budgets 2014-15 highlights

Provincial budgets 2014-15 highlights

Sindh  The Sindh budget has a total outlay of Rs.686.2 billion. Total receipts are projected at Rs.672.118 billion, showing a deficit of Rs.14.06 billion. The Annual Development Programme has been allocated Rs.168 billion, against current year’s rs.185 billion. Revenue expenditure is budgeted Rs.436.09 billion, capital expenditure at Rs.34.7 billion, and Rs.47.5 billion is for other […]

August 30, 2014 | By More
Federal budget 2014-15 —-An Overview

Federal budget 2014-15 —-An Overview

In the outgoing fiscal year 2013-14, macroeconomic performance of the economy improved. GDP growth picked up, mainly driven by improved performance of industry and services sector. Economic growth has suffered in recent years because of problems in the energy sector, security concerns and a difficult investment climate. GDP growth has averaged 3 percent in the […]

August 21, 2014 | By More