Tag Archives: Tax

  Pakistan Automotive Manufacturers’ Association (PAMA) has released its monthly sales data for the month of August registering growth of over 76%MoM, in indication of strong recovery from the adverse impact of advance tax. The prime gainer in the month was Corolla with sale of 3,515 units. Despite the strong recovery the numbers remained under pressure on a cumulative basis, posting a decline of 11.3%YoY in 2MFY15. While auto industry …

  The overseas investors getting upset to deal with various agencies responsible for tax collection have urged upon the government to integrate all revenue collections under one ministry to improve doing business environment. Overseas Investors Chamber of Commerce and Industry (OICCI) the representative body of the overseas investors in Pakistan, however, has extended its support to the Sindh government in its efforts to increase revenue collection and streamline the taxation …

  A recent study by John Merrifield and Barry W. Poulson measured the effects of fiscal policy variations in case of three US states: California, Montana and Utah. The study concludes: ‘A measure issue in the debate over tax policy is the supply-side impact of income tax rate cuts. Using the Poulson and Kaplan (2008) estimates of the negative relationship between marginal tax rates and state economic growth, we show …

  All income irrespective of source should be taxed Pakistan Business Council (PBC) views tax policy as a primary tool for the promotion of industrialization, economic growth and for more equitable distribution of the tax burden. PBC strongly advocates that taxation needs to be based on the principle of “All income irrespective of source should be taxed.” The fiscal space that the government is looking for to implement its ambitious …

  Many in the telecom industry have, for years now, been advocating for a reduction in the indiscriminately high telecom taxes. The 2016-17 budget in Pakistan got diverse reactions from the Information and Communication Technology (ICT) industry. It raised taxes on mobile phones. But there was good news for IT sector in the form of tax exemption on software exports with reasonably satisfactory budget for development projects. The government generated …

  Industry needs more innovative ideas and better customer services Telecom sector is playing a pivotal role in the growth of country’s economy in provisions of providing employment and attracting investment. The sector is making valid contribution to national exchequer despite facing deep taxes. As per estimates, total telecom investments in Pakistan will likely to reach $2.4 billion by 2020, while its revenue would cross Rs620 billion mark by the …

  Petroleum products were the top revenue contributor of domestic sales tax, contributing around 44 percent (or Rs233.2 billion) to the total proceeds during 2014-15. Sales tax collection was concentrated in few commodities as 10 major items, including POL (petrol, oil and lubricants) and natural gas, shared 73 percent of the total domestic sales tax. All the major 10 items posted positive growth except natural gas and fertilizer. The collection …

  The number of used cars being imported under different schemes are still on rise as more than 8,500 used vehicles were imported during just two months of the current financial year. According to details, approximately 4,440 vehicles were imported in July 2016 and 4,076 were imported in August 2016. The break-up of imported vehicles in July shows that 2,408 cars below 800cc (1211 cars and 1197 cargo vans/pick-ups/jeeps) and …

  Heavy taxes may stall investment in real estate sector Interview with Mohammad Hanif Gohar – Chairman, Association of Builders & Developers of Pakistan  (ABAD)   Profile Mohammad Hanif Gohar is the Chairman of Gohar Group of Companies since 1988. He is a man of exemplary vision and enterprise, having led the Group for three decades, to international shores and having proven the competency and capabilities of the Pakistani housing, …