LAHORE: The unprecedented tax hikes on cement have led to a significant decline in demand, with cement dispatches dropping by 25.68% in August 2024. According to the All Pakistan Cement Manufacturers Association (APCMA), total cement dispatches during August 2024 were 3.366 million tonnes, down from 4.528 million tonnes in the same month last year. Domestic … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has isued excise duty on property purchases for developers and builders, Express News reporeted. The notification issued on Thursday modifies the Federal Excise Rules 2005. According to the notification, a developer is defined as an entity that transforms land into residential or commercial plots for sale. This includes housing societies, cooperative … Read more
A man sits in front of closed shops along a roadside in Peshawar on September 2, 2023, during a nationwide strike by traders against the surge in electricity and fuel prices. — AFP “The political leadership has failed,” says traders’ leader. JUI-F, JI and PTI back traders’ call for countrywide strike. Traders hint at prolonged … Read more
ISLAMABAD/ LAHORE/ PESHAWAR: Trade associations are set to observe a nationwide shutter-down strike on Wednesday (today) against high electricity tariff, arbitrary taxes and unjust International Power Producer (IPPs) contracts. In a related move, Jamat-e-Islami (JI), Jamiat Ulema-e-Islam Fazl (JUI-F), Pakistan Tehreek-e-Insaf and Awami National Party (ANP) have also thrown their weight behind the traders’ cause. … Read more
The Global System for Mobile Communication Association (GSMA) has urged the Pakistani government to gradually eliminate the 15% Advance Income Tax (AIT or withholding tax) on essential telecoms services and the 19.5% sales tax on mobile services, which creates additional barriers to digital inclusion for low-income households. In its latest report titled, “Realising Pakistan’s Aspiration … Read more
Tax evasion in Pakistan’s textile value chain, spanning from ginning to retail, is estimated at Rs236 billion annually, according to the Pakistan Cotton Ginners Association (PCGA). The assessment reveals tax evasion, with Rs36 billion attributed to the ginning stage alone and the remaining Rs200 billion across other stages of the textile value chain. The PCGA … Read more