Tag: #Taxation
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The Imperative Rise in Tobacco Taxation: A Necessity for Health and Economy
In the contemporary landscape of public health and fiscal policy, the urgency to curb tobacco consumption through increased taxation has never been more critical. Tobacco, a pervasive menace to society, claims over 160,000 lives annually in Pakistan alone. This alarming statistic is further exacerbated by the economic toll on the country, with smoking-related illnesses costing…
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“Social Impacts of Tobacco Smoking on Youth and the Consequences of Higher Taxation on Tobacco Products”
Smoking is a widespread issue that not only poses significant effects on the health of people but also a threat to the well-being of our society. During Adolescence, when youngsters are more susceptible to experimentation and peer pressure they get indulged in it. Tobacco contains a chemical that is highly addictive known as Nicotine which…
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Shaukat Tarin expresses thoughts on taxations
For Pakistan to be a proper tax-payed country, we should begin with Parliamentarians, Shaukat Tarin said on Monday while initiating the Parliamentarians Tax Directory for the expense year 2019. “We are finding ways to acquire transparency and improve the taxation framework,” Tarin said, adding that expenses assume an essential part in the advancement of a…
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FBR reveals tax payments of various politicians
The Federal Board of Revenue (FBR) on Monday delivered its Tax Directories of Parliamentarians for the duty year 2019 uncovering that Prime Minister Imran Khan paid expense forms worth Rs9.85 million. As indicated by the catalog, among other PTI personalities, Federal Minister for Finance and Revenue Shaukat Tarin paid Rs26.62 million in charges. While Federal…
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Finance Minister takes FPCCI on board for Taxation & Budgetary Reforms
Lahore: Mr. Shaukat Tarin, Finance Minister, has promised to consult FPCCI every quarter now onwards to resolve businessmen issues efficiently and restore their confidence to promote private sector investments. He also announced that FBR will set up a help desk at FPCCI Head Office, Federation House, Karachi to facilitate resolution of discrepancies and issues in…
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Pakistan’s Taxation System & the way forward
Taxes that are levied on citizens are a major source of funds used by the government to function. These funds are accumulated in a variety of ways, such as income tax. This is a regular source of income for the government and is generally utilized for the provision of services including health, education subsidies, infrastructure,…
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Biden administration looking at US corporate tax hike: Yellen
Washington, (24th March, 2021, 01:26 am) (AFP/APP):President Joe Biden’s administration is considering hiking the US corporate tax rate, Treasury Secretary Janet Yellen said on Tuesday, as it looks to pay for priorities like a forthcoming infrastructure plan. “We’ve had a global race to the bottom in corporate taxation and we hope to put an end…
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2.1 MILLION PEOPLE ACROSS THE COUNTRY IS IN FBR’s RADAR; NOTICES SERVED
The Federal Board of Revenue has issued tax notices to 2.1 million people across the country Notices have been served by the FBR authorities to individuals who either didn’t file their returns, misinformed the tax authorities, or hid their income. The number of tax filers in Pakistan has increased to 2,623,000, according to the FBR.…
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Chief Minister Excise, Taxation and Narcotics announces relief in all taxes due to coronavirus
PESHAWAR, Feb 08 (APP): Special Assistant to Chief Minister on Excise, Taxation and Narcotics Control, Ghazan Jamal on Monday announced that relief in all taxes due to coronavirus situation had been extended till February 28. He said that no new tax was imposed in the financial bill 2021 and four taxes out of eight taxes had been abolished. He…
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Why pay tax worth 12 lakhs on a car that already costs 40 lakh?
According to a report by Baaghi TV, a sub-committee of the National Assembly’s Standing Committee on Industry and Production called for an agreement between the government and car manufacturers. The committee also sought a three-year tax record and financial statement from the FBR, while recommending that the SECP conduct a special audit of car manufacturers.…