Sustainable Energy and Economic Development (SEED) launched a Policy Note in collaboration with the KP Government to introduce Sales Tax on Services Reform in the province.
Special instructions were issued to the field offices to provide all possible facilities to the taxpayers so that the taxpayers could file their tax returns on time.
The board had also decided to immediately roll-out action against the taxpayers who neither have filed the tax returns nor sought permission for extension.
In a letter to FBR Chairman, President PTBA Aftab Hussain Nagra said that the global situation created due to the coronavirus pandemic has made it impossible for taxpayers to timely file their tax returns.
The European Commission, whose decision came after a year-long investigation, said profits earned by port authorities from economic activities must be taxed under normal corporate tax laws.
The Federal Board of Revenue (FBR) is close to meeting its target of Rs348 billion for the month of November as total revenue collection reaches Rs347 billion.
As per a statement issued by the tax collecting authority, the FBR has taken several steps to facilitate the taxpayers to facilitate the submission of income tax returns. A new simple return form for the tax year 2020 has been introduced.
The Economic Coordination Committee (ECC) of the Cabinet has agreed to reduce taxes in the Telecommunications sector by setting a sub-committee to resolve this issue.
Sustainable Energy and Economic Development (SEED) launched a Policy Note in collaboration with the KP Government to introduce Property Tax Reform in the province.
Companies in Pakistan paid approximately 56 percent of the total tax collection, followed by non-salaried individuals at 21pc, and salaried individuals at 14pc.
From Saddar market which is one of the country’s largest market Rs 77,177,558,945 were collected in taxes from 72,339 tax filers, for the fiscal year ended in June, 2018.
Advisor to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh informed that some 90 Senators and 311 Members of the Parliament have paid taxes of about Rs 800 million.
Prime Minister Imran Khan paid Rs 282,449 whereas former prime minister and PML-N parliamentarian Shahid Khaqan Abbasi paid the highest tax of Rs 241,329,362.
Washington, Brussels have been squabbling for years over government subsidies to Airbus, and in 2019 WTO authorized the US to impose up to 100 percent in taxes on $7.5 billion in European goods.