Steel Industry Representatives Meet with Finance Minister, Advocate for Growth and Tax Reforms Representatives from Pakistan's steel industry associations met with Finance Minister Muhammad Aurangzeb to discuss the industry's performance and growth strategies. Key points: Industry overview and growth strategies: The delegation presented an overview of the steel industry's performance and proposed strategies to enhance its growth. Tax and custom duty adjustments: They proposed adjustments to tax and custom duties to create a more conducive environment for industry expansion. Organized sector encouragement: The delegation advocated for the encouragement of the organized sector and the integration of all producers and sellers into the tax net. Government support: The minister reiterated the government's commitment to supporting the local industry and expanding the tax net. Collaboration: He emphasized the need for collaborative efforts between the government and the private sector to address the challenges faced by the steel industry. #PakistanSteelIndustry #IndustryGrowth #TaxReforms #GovernmentSupport #PublicPrivatePartnership #SteelSector #EconomicDevelopment #onlinepakistan #online_pakistan #onlinepakistantech #online_pakistan_tech #pakistanonline
What Happened: The Pakistani government is considering revoking tax waivers for the wealthy as part of the 2024-25 budget, following IMF recommendations to treat salaried and non-salaried incomes similarly. Details: The Federal Board of Revenue (FBR) projects Rs500 billion in new revenue measures, aiming to raise the tax exemption limit for salaried individuals and potentially taxing federal pensions. Discussions with the IMF also include taxing traders and wholesalers who currently contribute minimally to the tax base. What You Need to Know: These proposed changes aim to create a fairer tax system and address fiscal challenges. The government is focusing on equitable taxation and maximizing revenue through adjustments in tax policies and removing certain exemptions. #Budget2024 #TaxReforms #PakistanEconomy #IMFRecommendations #FBR #EconomicPolicy #TaxJustice #RevenueGeneration #FiscalPolicy #EquitableTaxation #Propergaanda
اسلام آباد: سابق نگران وفاقی وزیر اطلاعات و نشریات مرتضیٰ سولنگی نے اظہار کیا ہے کہ تمباکو پر باقاعدگی سے ٹیکسز میں اضافہ اسے روکنے میں بہت معاون ثابت ہو سکتا ہے، جس سے نہ صرف حکومت کو اضافی ریونیو حاصل ہوگا بلکہ صحت پر اٹھنے والے اخراجات میں بھی خاطر خواہ کمی ہو سکے گی۔ انہوں نے غیر سرکاری تنظیم سپارک کے زیر اہتمام مقامی ہوٹل میں ہونے والی ایک تقریب میں خطاب کیا، جہاں انہوں نے ان خیالات کا اظہار کیا۔ سولنگی کا کہنا تھا کہ تمباکو ٹیکسز پر چالیس فیصد اضافے سے حکومت کو نہ صرف 96 ارب روپے کا اضافی ریونیو حاصل ہو سکے گا بلکہ اس سے تمباکو نوشی سے منسلک صحت کے اخراجات پر بھی نمایاں اثر پڑے گا جو 615 بلین روپے سے کم ہو کر 418.2 بلین روپے رہ جائے گا، جس سے آمدنی اور صحت کے اخراجات کے درمیان فرق کو مؤثر طریقے سے 82 ارب روپے تک کم کیا جائے گا۔ انہوں نے تمام اسٹیک ہولڈرز کو اپنے بچوں کے محفوظ اور بہتر مستقبل کیلئے ذاتی اختلافات کو بالائے طاق رکھ کر متحد ہونے کی اپیل کی۔ سولنگی نے بتایا کہ آئی ایم ایف اور ورلڈ بینک نے پاکستان کو سگریٹ کے لیے سنگل ٹائر ٹیکس کا ڈھانچہ متعارف کرانے کی سفارش کی ہے، جبکہ تمباکو کے استعمال میں کمی کے لیے ٹیکسوں میں اضافے کی کوششوں کے باوجود سگریٹ کی کم قیمتیں برقرار ہیں، جس سے کھپت کی بلند سطحوں میں اضافہ ہوتا ہے۔ سوشل پالیسی اینڈ ڈویلپمنٹ سینٹر (ایس پی ڈی سی) کے مینیجنگ ڈائریکٹر محمد آصف اقبال نے بھی اظہار کیا کہ قیمتوں میں تبدیلی کے بارے میں سگریٹ نوشی کرنے والوں کا ردعمل پاکستان میں سگریٹ نوشی کی حوصلہ شکنی کے لیے ٹیکس لگانے کے بہت زیادہ امکانات کی نشاندہی کرتا ہے۔ #TobaccoTax #PublicHealth #TaxationPolicy #SmokingPrevention #HealthcareCosts #RevenueGeneration #PublicAwareness #HealthCareReform #PolicyMaking #TaxReforms
اسلام آباد: چیئرمین ایف بی آر امجد زبیر ٹوانہ نے کہا ہے کہ آئندہ مالی سال ایف بی آر کا ٹیکس ٹارگٹ ساڑھے 12 ہزار ارب روپے سے زائد ہو سکتا ہے۔ فیڈرل بورڈ آف ریونیو کے چیئرمین امجد زبیر ٹوانہ نے آئندہ وفاقی بجٹ تجاویز پر غیر رسمی گفتگو کرتے ہوئے کہا کہ ٹیکس ہدف اور ٹیکس کلیکشن کیلئے مختلف تجاویز زیر غور ہیں، کوشش کر رہے ہیں کہ رواں مالی سال کا ٹیکس ہدف مکمل کیا جائے۔ انہوں نے کہا کہ آئندہ مالی سال ایف بی آر کا ٹیکس ٹارگٹ ساڑھے 12 ہزار ارب روپے سے زائد ہو سکتا ہے جب کہ ٹریک اینڈ ٹریس سسٹم کارکردگی کو بہتر بنانے کی کوشش کی جارہی ہے، ٹریک اینڈ ٹریس کا دائرہ کار مزید وسیع کرنے کیلئے بھی منصوبہ بندی کر رہے ہیں۔ چیئرمین ایف بی آر کا کہنا تھاکہ نان فائلرز کو ٹیکس نیٹ میں لانے کیلئے فنانس بل میں اقدامات کیےجائیں گے، تاجردوست اسکیم کی رجسٹریشن آئندہ مالی سال مزید بڑھائی جائے گی۔ #FBR #TaxCollection #FederalBudget #TaxTarget #Revenue #Taxation #TaxReforms #FinancialYear #TaxCompliance #TaxationSystem #TaxPolicies
The Federal Board of Revenue (FBR) plans to expand the Track and Trace system in the 2024-25 budget, introducing a single sales tax return for all businesses and monitoring supplies from unregistered businessmen. The system will extend to the tiles sector, and the FBR may grant more powers to the Director General of Digital Invoices. Retailers not implementing the Point of Sale system will face special audits. This move follows the IMF's concerns about the current system's shortcomings, urging complete adoption across major sectors by the next fiscal year to enhance tax reforms and curb evasion. #Reachtheworld #Boardnews #FederalBoardofRevenue #Track #Nextfiscal #Taxreforms #Specialaudits #Currentsystem #IMFconcern #Digitalinvoice #Exchangetax #Unregisteredbusinessmen #Tracesystem #newsupdate
“In addition to the applicability of uniform tax rates across states, the concept of GST was based on the seamless flow of input tax credits to remove the cascading impact and digitalization of compliance,” writes Koushik Chatterjee Chairman, CII National Taxation Committee and Executive Director & CFO, Tata Steel Limited. Read the #CIIBlog to know how can the implementation of GST across the steel value chain be streamlined. https://bit.ly/4cc4Frl @tatasteelltd #OneNationOneTax #TaxReforms #GST #SteelIndustry
A proposal is being considered to increase the cigarette prices by increasing federal excise duty (FED) amid the suggestions forwarded by the Tobacco Control Cell (TCC) and non-governmental organisations (NGOs). Sources in the Ministry of National Health Services Regulations and Coordination say the proposal has been formulated by the TCC after the NGOs pushed for raising the FED by 26.6 per cent. As a result, the federal ministry is now deliberating upon the suggestion at a time when Pakistan remains focused on increasing revenue collection amid a dismal tax-to-GDP ratio. However, the move would be another addition to the indirect taxes, but is certainly going to please the IMF (International Monetary Fund). Last week, a team left Islamabad after holding talks with Pakistan, as the country is hoping for another IMF programme to the tune of $6 billion to $8 billion over a period to three to four years. It is worth noting that the cigarette prices are much higher in the rest of the world, especially in developed countries, with a view to discourage tobacco consumption and reduce the health expenditure due to the a plethora of diseases caused by smoking. The sources say the FED on cigarette may be hiked by 15pc to 19pc after the government fixed the minimum price of locally-made brands at Rs127 inclusive of all taxes. Currently, the government is earning at least Rs120 per packet in FED. According to the sources, the local tobacco companies had paid Rs173 billion in taxes during the past fiscal year. However, the losses caused by tax evasion is estimated much higher – around Rs240bn. However, there are side effects as well. Any increase in FED to encourage the people to opt for smuggled cigarette brands – a trend already being witnessed ever since the cigarette prices were increased. #CigaretteTaxIncrease #FEDHike #TobaccoControl #PakistanEconomy #IMFProgram #PublicHealth #TaxReforms #AntiSmuggling #RevenueCollection #HealthAdvocacy #IndirectTaxes #QuickView
Faisalabad Commissionerate!! #CMPunjab #faisalabad #taxawareness #taxreforms #PST #PunjabGovernment
The Khyber Pakhtunkhwa (KP) government has unveiled its annual budget for the fiscal year 2024-25 with a total outlay of Rs1.7 trillion. This budget, presented by Finance Minister Aftab Alam, focuses on social protection, peace, employment opportunities, and economic development. Notably, it proposes a 10% increase in salaries and pensions for government employees and raises the minimum wage from Rs32,000 to Rs36,000. #TrendingPakistan #KPBudget2024 #EconomicDevelopment #SocialProtection #TaxReforms #KPProgress #CMGandapur
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Gujranwala Commissionerate!! #CMPunjab #punjabgoverment #Gujranwala #CMpunjabofficial #TaxReforms
भाजपा सरकार ने देश के लाभ के लिए निवेशों को आकर्षित करने के लिए कई सुधार किए हैं, विदेशी निवेशों पर प्रतिबंधों को कम करना, पूर्वावलोकन कर प्रक्रिया को समाप्त करना, इसका लक्ष्य प्रत्येक भारतीय के लाभ के लिए निवेशों को सही दिशा में ले जाना है।भाजपा सरकार ने देश के लाभ के लिए निवेशों को आकर्षित करने के लिए कई सुधार किए हैं, विदेशी निवेशों पर प्रतिबंधों को कम करना, पूर्वावलोकन कर प्रक्रिया को समाप्त करना, इसका लक्ष्य प्रत्येक भारतीय के लाभ के लिए निवेशों को सही दिशा में ले जाना है। BJP govt has initiated several reforms to attract investments for the benefit of the country, relaxing foreign investments restrictions, ending retrospective tax principles aimed at moving the investments in the right direction for the benefit of every Indian. #InvestmentReforms #ForeignInvestment #BJPInitiatives #EconomicGrowth #InvestmentFriendly #ProsperousIndia #TaxReforms #AttractingInvestments #EconomicDevelopment #InvestInIndia #BJPLokSabha2024 #BJP4India #AnuragThakur #HimachalElections #Modi2024 #BJPHimachal #DoubleEngineGovt #VijaySankalpYatra #BJPWinningStreak #ModiForPM
پاکستان اور عالمی مالیاتی فنڈ (آئی ایم ایف) کے درمیان اسٹاف لیول معاہدے کے لیے مناسب پیشرفت سامنے آئی ہے۔ پاکستان کا دورہ مکمل کرنے کے بعد آئی ایم ایف کا بیان سامنے آیا ہے جس میں بتایا گیا کہ پاکستان کی درخواست پر آئی ایم ایف وفد نے پاکستان کا دورہ کیا، دورے میں نئے پروگرام سے متعلق پاکستان کی درخواست کا جائزہ لیا گیا۔ آئی ایم ایف اعلامیے کے مطابق پاکستانی حکام اور آئی ایم ایف کے درمیان اسٹاف لیول معاہدےکے لیے مناسب پیشرفت ہوئی، جامع اقتصادی پالیسی اور ریفارمز پروگرام پر بات چیت ہوئی، پالیسی پر پاکستانی حکام سے ورچوئل بات چیت جاری رہےگی، ورچوئل بات چیت میں پاکستان کے لیے نئے پروگرام کو حتمی شکل دینے پر بات ہو گی۔ عالمی مالیاتی فنڈ کے مطابق ریفارمز پروگرام کا مقصد پاکستان میں مستحکم گروتھ کا ہدف حاصل کرنا ہے، ریفامز کے ذریعے پاکستان کی ٹیکس آمدن اور وسائل کو بڑھانا ہے، انسانی وسائل کی ترقی، سماجی تحفظ، ماحول اور موسمی تبدیلیوں سے اثرات سے نمٹنا ہے، اس کے علاوہ توانائی کے شعبے کو قابل بھروسہ بنانا، توانائی کی بھاری لاگت کو کم بھی کرنا ہے۔ آئی ایم ایف کے مطابق افراط زر میں کمی، ریاستی اداروں کی تنظیم نو اور نجکاری بھی ریفارمز میں شامل ہیں، اصلاحات کا مقصد نجی شعبے کی ترقی ہے، آئی ایم ایف ٹیم پاکستانی حکام کی نجی شعبے کے ساتھ مفید بات چیت کے لیے شکر گزار ہے۔ #IMFPakistanDeal #IMFStaffLevelAgreement #PakistanReforms #EconomicPolicy #IMFConsultations #TaxReforms #SustainableGrowth #SocialProtection #EnvironmentalSustainability #EnergySectorReforms #FiscalConsolidation #InstitutionalReforms #PrivateSectorDevelopment #IMFThankYouPakistanGovt
Revolutionizing Taxation: Impact of Tax Reforms in the French Revolution During the French Revolution, taxation became a focal point of discontent among the masses, leading to significant social and political upheaval. The revolutionaries aimed to overhaul the tax system, seeking fairness, transparency, and relief from burdensome taxes imposed by the monarchy. 💥 How did taxation contribute to the unrest that sparked the French Revolution, and what were the consequences of these tax reforms? Exploring the transformative power of taxation in history every Thursday. #TaxTimelineThursday #FrenchRevolution #TaxReforms #InsightersTaxAcademy #taxprepcareer #taxtipstricks #taxeducation #taxindustryinsights #taxpreparationskills #taxprofessionals #careerintaxation #taxprepguide #taxplanningstrategies #StartYourOwnTaxBusiness #taxacademyonline
In a decisive move to curb tax evasion and boost revenue generation amid challenging economic conditions, the Federal Board of Revenue (FBR) has initiated the blocking of over 9,000 SIM cards belonging to non-filers. This action follows directives to telecommunication companies issued during a recent FBR meeting. The Pakistan Telecommunication Authority (PTA) has distanced itself from the SIM blocking process, asserting it lacks the authority to do so. The FBR spokesperson confirmed that SIMs of tax return filers would be unblocked immediately. The Islamabad High Court (IHC) clarified that the government's decision to block SIMs remains in effect, as the court's stay order was not related to this measure. This crackdown is part of broader economic reforms, with the federal government emphasizing its commitment to these measures. Despite some operational challenges, including the need for telecom companies to manually block SIMs, the FBR continues its efforts to enforce tax compliance. #TaxEvasion #FBR #Pakistan #SIMBlocking #Telecom #EconomicReforms #RevenueGeneration #NonFilers #PTA #IHC #TaxCompliance #Telecommunication #SIMCards #GovernmentPolicy #LegalAction #TaxCollection #EconomicMeasures #FBRDirectives #RevenueBoost #TaxReforms #DigitalCompliance #ManualBlocking #TelecomOperators #gensaid #gensaidsports #gensaidentertainment #gensaidurdu
In a decisive move to curb tax evasion and boost revenue generation amid challenging economic conditions, the Federal Board of Revenue (FBR) has initiated the blocking of over 9,000 SIM cards belonging to non-filers. This action follows directives to telecommunication companies issued during a recent FBR meeting. The Pakistan Telecommunication Authority (PTA) has distanced itself from the SIM blocking process, asserting it lacks the authority to do so. The FBR spokesperson confirmed that SIMs of tax return filers would be unblocked immediately. The Islamabad High Court (IHC) clarified that the government's decision to block SIMs remains in effect, as the court's stay order was not related to this measure. This crackdown is part of broader economic reforms, with the federal government emphasizing its commitment to these measures. Despite some operational challenges, including the need for telecom companies to manually block SIMs, the FBR continues its efforts to enforce tax compliance. #TaxEvasion #FBR #Pakistan #SIMBlocking #Telecom #EconomicReforms #RevenueGeneration #NonFilers #PTA #IHC #TaxCompliance #Telecommunication #SIMCards #GovernmentPolicy #LegalAction #TaxCollection #EconomicMeasures #FBRDirectives #RevenueBoost #TaxReforms #DigitalCompliance #ManualBlocking #TelecomOperators #gensaid #gensaidsports #gensaidentertainment #gensaidurdu
During the report's launch, Federal Defence Minister Khawaja Asif stated that Pakistan could collect Rs. 36 trillion in taxes, far exceeding the current Rs. 9 trillion, if the Federal Board of Revenue (FBR) addresses systemic and enforcement flaws. Khawaja Asif criticized the presence of tax evaders in Parliament and the mismanagement of government properties, contributing to revenue losses. He called for comprehensive reforms and stricter enforcement to combat illegal trade and boost revenue collection. The NUST report estimated the cigarette sector's potential annual tax revenue at Rs. 551 billion, with only Rs. 242 billion projected for the fiscal year 2023-24. It highlighted the growing market for illegal cigarettes, now at 73.5%, versus the legal market’s 36.5%. The report recommended a balanced excise duty structure, stricter law enforcement, regular updates to the track-and-trace system, and targeted actions in Azad Kashmir to curb illicit tobacco trade. #TaxReforms #RevenueCollection #TaxEvaders #FBR #TaxationSystem #GovernmentRevenue #TaxPolicy #TaxationReforms #IllegalTrade #Enforcement #NUSTReport #TaxRevenue #CigaretteSector #TrackAndTraceSystem #AzadKashmir #IllicitTrade #ExciseDuty #TaxationIssues #TaxCompliance
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New tax reprieve effective October Finance and public enterprises minister Iipumbu Shiimi says the revised income tax brackets are likely to take effect only in October, owing to legal requirements that must first take their course before implementation. Revisions to the income tax brackets were announced in February with the tabling of the budget for the 2024/2025 fiscal year. The new tax bracket stipulates that individuals earning a yearly salary of under N$100 000 per annum will no longer be subject to paying tax. Currently, all individuals who earn a salary of N$50 000 and upwards are subject to paying tax. Read the full report here: https://q.my.na/PTX9 #namibia #tax #taxreforms #incometax #paye
ایم کیو ایم پاکستان کے سنیئر رہنما اور رکن قومی اسمبلی مصطفی کمال کا کہنا ہے کہ آئی ایم ایف ملک کو بحران سے نہیں بلکہ کراچی نکال سکتا ہے، کراچی کو اس کا حق ملے تو اور زیادہ کما کر دے سکتا ہے۔ ملک میں امیر نہیں غریب ٹیکس دے رہا ہے ریاست غریبوں سے لیکر امیروں پر خرچ کررہی ہے۔ #MQM #Karachi #IMF #Taxation #EconomicPolicy #PakistanEconomy #TaxReforms #PovertyAlleviation #WealthDisparity #NationalAssembly #EconomicJustice #SocialJustice #PublicPolicy #TaxSystem #IncomeInequality
ISLAMABAD: Minister for Defence and Defence Production, Khawaja Muhammad Asif on Tuesday said that it was absolutely saddening that counterfeit cigarette manufacturers were members of the assemblies and watch guard their business’ interests through the legislature. “Pakistan has a capacity to generate Rs27,000 billion in terms of taxes and we will not need IMF support if we only collect half of this tax,” Asif said at the launching session of the research report titled ‘Illicit Cigarette Trade in Pakistan – Current Situation and Way Forward’, produced by the National University of Science & Technology (NUST). “Two major cigarette manufacturers are contributing Rs170b in taxes while the share of all the other cigarette manufacturers is just 2 billion rupees,” he added. Khawaja Asif quoted ex-Chairman FBR Shabbar Zaidi that during his tenure when FBR planned to implement tax on the cigarette industry, at that time Speaker National Assembly Asad Qaiser pressurized Shabbar Zaidi not to implement taxes on the cigarette industry. The NUST research report on the tobacco sector revealed that Pakistan is losing 310 billion rupees annually due to tax evasion in the tobacco sector. During session, audience was briefed on the complex challenges in administration, revenue collection, policy coordination, and market dynamics, of the cigarette industry which are causing significant tax revenue losses for the national exchequer. Additionally, the inadequate enforcement of existing laws, rules, regulations, and policies has further bolstered the illicit sector. While quoting efficacy of the Track and Trace System (TTS) under the government’s enforcement regime, the report mentioned that the TTS had been aimed at reducing the levels of illicit trade in the country. Contrary to that goal, the illicit trade had increased since its implementation. This increase of illicit cigarette trade is feared to cause the market shares of the illicit sector to exceed 63% of the total market in 2024, leaving a dwindling legitimate sector share. #TaxEvasion #CigaretteIndustry #IllicitTrade #PakistanEconomy #TaxReforms #KhawajaAsif #NUSTReport #RevenueLoss #TobaccoSector #Opinion #pk
ٹیکس ریفارمز پر تیزی سے کام کیا جائے، ٹیکس نیٹ کو بڑھایا جائے جائے، انکم ٹیکس کی شرح پندرہ فیصد سے زائد نہ ہو، زرعی شعبے کو ٹیکس نیٹ میں لایا جائے اور مہنگائی پر قابو پانے کیلئے شرح سود کم کرکے سنگل ڈیجیٹ کیا جائے۔ کورنگی ایسوسی ایشن آف ٹریڈ اینڈ انڈسٹری کی بجٹ تجاویز۔ #kati #budgetproposals2024 #budget2024 #inflation #interestrate #taxreforms #dailybeopar
The IMF mission has proposed taxing pensions over Rs 100,000 and increasing GST to 18% as part of Pakistan's new bailout program. Negotiations for the program are in the final phase, with stringent economic measures expected. Pakistan remains committed to the IMF loan program, aiming for fiscal discipline to qualify for the bailout. #IMFBailout #TaxReforms #CheckItNow #PakistanFinance
The Pakistani government is poised to accumulate Rs5.33 trillion in domestic debt over the next three months, potentially exacerbating inflation and the nation's repayment challenges. This move highlights a critical issue: the absence of many wealthy individuals from the taxpayers' list. Data from the State Bank of Pakistan (SBP) indicates that the government plans to use part of this borrowing to repay maturing old debt amounting to Rs2.59 trillion between May and July 2024, resulting in a net addition of Rs2.69 trillion to total debt and liabilities. As of March 2024, Pakistan's total debt and liabilities hit a record Rs80.86 trillion, up by Rs8.42 trillion (11.62%) from the previous nine months. Muhammad Awais Ashraf, Director of Akseer Research, explained that higher interest payments on mounting debt are driving the net increase. The government’s borrowing typically peaks in the last quarter of the fiscal year to settle year-end payments, including subsidies and outstanding dues. A central bank report highlights that government expenditures on power subsidies, PSE liabilities, civil administration, defense, and pensions are significant. Despite fiscal constraints, the government granted four salaries to officers in the prime minister's office. This expenditure could lead to new taxes in the 2024-25 budget and a potential IMF loan program, further burdening citizens with taxes and inflation. Despite a 30% increase in revenue collection this fiscal year, Ashraf attributed most of it to 25% average inflation, with real tax revenue growth being minimal. #PakistanDebtCrisis #EconomicChallenges #InflationConcerns #FiscalDeficit #GovernmentBorrowing #TaxReforms #IMFProgram #PublicExpenditure #InterestPayments #EconomicStability #FinancialPolicy #DebtManagement #PublicSectorSpending #EconomicOutlook #TaxationIssues #PublicFinance #EconomicGrowth #GovernmentDebt #TaxCollection #PolicyRate #InflationImpact #EconomicPolicy #BudgetDeficit #Gensaid #GensaidSports #GensaidEntertainment #GensaidUrdu
اراکین پارلیمنٹ نے تمباکو کے استعمال کو نوجوانوں اور قوم کے لیے خطرہ قرار دیتے ہوئے ملک میں تمباکو کی مصنوعات پر ٹیکس بڑھا کر اس کی کھپت کو کم کرنے کے لیے مشترکہ کاوشوں پر زور دیا ہے،ہیومن ڈویلپمنٹ فاؤنڈیشن (HDF) اور شراکت دار تنظیموں کے زیر اہتمام ایک تقریب میں تمباکو کے استعمال کے وسیع اثرات سے نمٹنے کے لیے جامع طریقوں پر تبادلہ خیال کرنے کے لیے پالیسی سازوں، ماہرین، کارکنوں اور اسٹیک ہولڈرز نے شرکت کی،تقریب سے مہمان خصوصی رکن قومی اسمبلی شہلا رضا نے خطاب کرتے ہوئے کہا کہ قیمتوں میں اضافہ سے سگریٹ نوجوانوں کی پہنچ سے دور کیا جا سکتا ہے۔ صحت عامہ کے تحفظ اور سماجی بہبود کو فروغ دینے کے لیے تمباکو کنٹرول کے موثر اقدامات کی اہمیت پر زور دیتے ہوئے شہلا رضا نے کہا معاشرے میں تمباکو کے استعمال کی حوصلہ شکنی کے لیے پوری قوم اور تمام اسٹیک ہولڈرز کو ذمہ داری کا مظاہرہ کرنا ہوگا۔ اس موقع پر پاکستان میں قائم تھنک ٹینک سینٹر فار ریسرچ اینڈ ڈائیلاگ (CRD) کی ڈائریکٹر مریم گل طاہر نےکہا کہ سروے سے پتہ چلتا ہے کہ سگریٹ کی قیمتوں میں اضافے کی وجہ سے 18 فیصد نے سگریٹ نوشی چھوڑ دی ہے۔ٹیکس میں اضافہ صحت عامہ اور حکومتی محصول دونوں کے لیے ایک جیت کا وعدہ کرتا ہے۔تقریب کے دوران ڈبلیو ایچ او کے ٹیکنیکل ایڈوائزر شہزاد عالم نے کہا کہ تمباکو کی غیر قانونی تجارت پر عالمی ادارہ صحت (WHO) کی تحقیق میں کہا گیا ہے کہ مجموعی طور پر پاکستان میں سگریٹ کی غیر قانونی تجارت تمباکو کی صنعت کے دعووں کے برعکس کل تجارت کا صرف 23.1 فیصد ہے اس موقع پر رکن پارلیمنٹ نیلسن عظیم نے کہا کہ پاکستان میں تمباکو سے پیدا ہونے والی بیماریوں سے صحت کی دیکھ بھال کے چیلنجز ہیں۔ قوم کو صحت کی دیکھ بھال پر سالانہ 615 ارب روپے کے خطرناک بوجھ کا سامنا ہے۔۔محمد صابر نے تمباکو پر ٹیکس میں اضافے کے فوائد پر زور دیتے ہوئے کہاجولائی 2023 سے جنوری 2024 کے درمیان ریونیو میں نمایاں اضافہ ہوا ہےجو 122 ارب روپے تک پہنچ گیا ہے۔تقریب کا اختتام تمباکو کے استعمال کے خلاف جنگ میں تعاون جاری رکھنے کے عزم کے ساتھ ہوا۔ #TobaccoControl #PublicHealth #Youth #PolicyMaking #Taxation #Healthcare #Pakistan #ThinkTank #YouthEmpowerment #SocialResponsibility #Parliament #TaxReforms #TobaccoTax #SmokingHazards #PublicAwareness #HealthPolicy #HumanDevelopmentFoundation #CRD #WorldHealthOrganization #IllegalTrade #HealthcareCosts
اسلام آباد(آئی این پی)اسلام آباد میں قائم تھنک ٹینک کیپٹل کالنگ نے نشاندہی کی ہے کہ سگریٹ مینوفیکچرنگ ان شعبوں میں سے ایک ہے جہاں جلد از جلد ٹیکس اصلاحات کی ضرورت ہے جیسا کہ (آئی ایم ایف)نے ٹیکس مراعات کو ان معاملات تک محدود کرنے کی ضرورت پر زور دیا ہے جہاں ان کے معاشی فوائد، جیسے کہ روزگار کی فراہمی اور معیشت میں قدر میں اضافہ، بجٹ کے اخراجات سے زیادہ ہے کیونکہ پاکستان توسیعی فنڈ سہولت (ای ایف ایف )کے تحت 6 سے 8 ارب ڈالر تک کا نیا بیل آٹ پیکج چاہتا ہے۔بین الاقوامی اسلامی یونیورسٹی اسلام آباد سے تعلق رکھنے والے ڈاکٹر حسن شہزاد نے محققین کے ایک گروپ کی بحث میں اظہار خیال کرتے ہوئے کہا کہ سگریٹ مینوفیکچرنگ انڈسٹری کا روزگار پیدا کرنے یا معیشت میں قدر میں اضافے کا کردار نہ ہونے کے برابر ہے جبکہ پاکستان میں ہر سال 163,600 سے زیادہ افراد کو متاثر کرتا ہے۔ ان میں سے تقریبا 31,000 اموات سگریٹ کے سیکنڈ ہینڈ سموک کی وجہ سے ہوتی ہیں۔ تمباکو تمام مردوں کی اموات کا تقریبا 16.0 فیصد اور خواتین کی 4.9 فیصد اموات کا سبب بنتا ہے جبکہ مجموعی طور پر، تمام اموات میں سے 10.9 فیصد تمباکو کی وجہ سے ہوتی ہیں۔قائد اعظم یونیورسٹی کے زمان ریسرچ سنٹر (زیڈ آرسی )کے سربراہ ڈاکٹر محمد زمان نے کہا کہ اس بات کے شواہد موجود ہیں کہ تمباکو کی کھپت اس وقت کم ہوتی ہے جب اس کی قیمت بڑھ جاتی ہے کیونکہ یہ بہت سے صارفین کی پہنچ سے باہر ہو جاتا ہے۔تازہ آرٹیکل ڈاکٹر زمان نے ایک تحقیقی رپورٹ کا حوالہ دیتے ہوئے کہا ہے تمباکو پر زیادہ ٹیکس جنوبی ایشیا میں کم از کم ایک تہائی کھپت کو کم کر سکتا ہے اور 35-45 ملین قبل از وقت اموات سے بچا سکتا ہے۔"انہوں نے کہا کہ سگریٹ پر یکساں ٹیکس کے لیے آئی ایم ایف کی سفارشات خواہ ان کے مقامی یا غیر ملکی برانڈز ہوں، قابل تعریف ہیں اور ان پر فوری عمل درآمد کیا جانا چاہیے ۔ #Pakistan #TaxReforms #TobaccoControl #PublicHealth #EconomicDevelopment #ThinkTank #IMF #Taxation #Cigarettes #SmokingHazards #PolicyMaking
The Executive Chairman and members of staff at the 26th Annual Tax Conference of the CITN, which held on Monday, May 13 - Friday, May 17 2024 at the Abuja Chamber of Commerce, International Trade and Convention Center with the theme “Sustainable Tax Culture And Economic Roadmap for Nation Building” #Tax #Taxreforms #LIRS
Join us at the All India Tax Law Virtual Conference 2.0 on June 8, 2024! Connect with experts, students, and enthusiasts to explore the latest in taxation. Don't miss out! 🌐📚 LINK IN BIO>>> #lawfer #legalcommunity #mnlu Mumbai #TaxLawConference #VirtualEvent #Taxation #KeynoteSpeakers #Research #TaxPolicy #Compliance #InternationalTaxation #GST #CryptocurrencyTax #InheritanceTax #CarbonTax #TaxReforms #LegalConference #ScholarlyExchange #TaxExperts
ٹیکس اصلاحات ایسی کی جائیں ک جس سے غربت کی دلدل میں دھنسے عوام کو ریلیف ملے، عوام اور کاروباری برادری کیلئے مزید مشکلات پیدا کرنے سے گریز کیا جائے۔ معروف بزنس لیڈر افتخار ملک کا مجوزہ ٹیکس اصلاحات کے ایجنڈے پر اظہار خیال۔ #iftikharmalik #taxreforms #costofdoingbusiness #dailybeopar
Finance Minister Muhammad Aurangzeb reiterates the government's determination to expand the tax base during a meeting with the Pakistan Business Council. Discussions cover digitalization, FBR restructuring, and plans to tackle smuggling and transit trade misuse. PBC emphasizes long-term fiscal policies in the forthcoming budget to stimulate investment and job creation. #TaxReforms #FBR #PakistanBusinessCouncil #EconomicPolicy #BudgetPlanning #CheckItNow
New and Old Tax Regimes in India: A Comparative Analysis #TaxRegimes #India #ComparativeAnalysis #NewTaxRegime #OldTaxRegime #TaxReforms #FinancialPolicy #TaxationLaws #EconomicAnalysis #TaxationSystem #LegalFramework #taxnews -link in bio-
📣 Treasurer Jim Chalmers unveiled the 2024-25 Federal Budget last night, outlining a series of tax reforms and measures aimed at relieving cost of living pressures. Here's a glimpse: ✂️ Stage 3 Personal Income Tax Cuts: Putting more money back in your pocket. 🎓 Student HELP Debts: Wiping $3 billion in student debt from 3 million Australians. ⚡️ Energy Bill Relief: $300 for all Australian households and $325 for eligible small businesses, applied as an automatic quarterly credit. 👨👩👧👦 Superannuation on Government-funded Paid Parental Leave (PPL): $1.1 billion allocated to pay super on PPL from 1 July 2026. 💰 Increase to Commonwealth Rent Assistance: Maximum rates to increase by 10% to help address rental affordability challenges. 🏥 Strengthening our Health System: Additional funding to Medicare, and cheaper medicines for all. 💼 Extensions of the Instant Asset Write-Off Scheme: The $20,000 threshold for small businesses applying the simplified depreciation rules extended until 30 June 2025. 🔍 Integrity Measures: Additional funding allocated to the ATO to upgrade technology and enhance fraud prevention efforts. #ImagineBetter #FederalBudget #TaxReforms
Tax Update : Tax Laws Amendment Act, 2024 We're committed to keeping you informed about the latest developments in tax laws. Our latest tax update breaks down the significant changes introduced by the Tax Laws (Amendment) Act, 2024. Read on to understand how these changes may impact you: https://www.linkedin.com/posts/arifnassociates_update-on-tax-laws-amendment-act-2024-activity-7196214148572016640-QM19?utm_source=share&utm_medium=member_android Key highlights: - Curtailment of Commissioner Inland Revenue (Appeals) role for income tax assessments/refunds up to Rs 20 million, Sales Tax upto Rs. 10 million, FED upto Rs. 05 million - Transfer of existing appeals to Appellate Tribunal by June 16, 2024 - Days to File Appeal before ATIR and High Court Reduced Significantly & Fee increased - Potential undue hardship for taxpayers with decreased number of days of stay of demand #TaxLawsAmendmentAct2024 #TaxUpdate #TaxAppealProcess #TaxReforms #PakistanTaxLaws #TaxAdvisory #ArifAndAssociates
Advance Tax unutilised under VAT allows to be Transitioned u/s 140 of TNGST Act: Madras HC #MadrasHC #TNGSTAct #VAT #AdvanceTax #GSTTransition #TaxationLaws #LegalRulings #BusinessNews #TaxReforms #TamilNaduTax #LegalUpdates #TaxTransition #CorporateFinance #StateTaxLaws #taxnews -link in bio-
اسلام آباد: عالمی مالیاتی فنڈ (آئی ایم ایف ) اور ایف بی آر کے درمیان نئے بیل آؤٹ پیکج کے لیے مذاکرات آج بھی ہوں گے۔ ذرائع کے مطابق ایف بی آر کے چیئرمین اور ممبران نے آئی ایم ایف وفد سے ملاقات سے قبل وزیرخزانہ محمداورنگزیب سے ملاقات کی جس میں عالمی مالیاتی ادارے کے ساتھ جاری مذاکرات کی پیش رفت کا جائزہ لیا گیا جب کہ ایف بی آرحکام نے وزیرخزانہ کو آئی ایم ایف کے نئے مطالبات اور ان کے اثرات پر بریفنگ دی۔ وزیرخزانہ نے ایف بی آر حکام کو آئی ایم ایف کے تمام مطالبات کاگہرائی سے جائزہ لینےکے بعد جواب دینے کی ہدایت کی۔ اس کے علاوہ وزیرخزانہ نے ایف بی آر کو ڈیجیٹلا ئزیشن اورٹریک اینڈ ٹریس سسٹم کیلئے ہر ممکن اقدامات کی بھی ہدایت کی ہے۔ ذرائع کے مطابق ایف بی آر اور آئی ایم ایف کے درمیان آج مذاکرات کے 2 دور ہوں گے جن میں ایف بی آر کے ٹیکس نیٹ کو وسیع کرنے سے متعلق آئی ایم ایف کو آگاہ کیا جائے گا۔ ذرائع کا کہنا ہے کہ آئی ایم ایف وفد کے ساتھ مذاکرات میں رواں سال ٹیکس وصولیوں پر پیشرفت اور اگلے مالی سال کیلئے ٹیکس ہدف پربات ہوگی، اس دوران رئیل اسٹیٹ اور زراعت کو ٹیکس نیٹ میں لانے اور اس میں آنے والی قانونی مشکلات پر بات ہوگی جب کہ تاجروں کو ٹیکس نیٹ میں لانے کیلئے اقدامات پر آئی ایم ایف کو اعتماد میں لیا جائے گا۔ #Islamabad #IMF #Taxation #PakistanEconomy #FinanceTalks #EconomicDevelopment #Digitalization #TaxReforms #Trade #IMFDelegation #FinanceMinistry #TaxNetExpansion #RealEstateTaxation #AgriculturalTaxation #BusinessCommunity #TaxTargets #TradeAndTaxation #EconomicProgress
he Federal Board of Revenue (FBR) in Pakistan has unveiled a bold new strategy to tackle non-filers and boost tax revenues. Under this initiative, withholding tax rates are set to skyrocket from 2.5% to a staggering 90% for non-compliant individuals. The move aims to compel non-filers to fulfill their tax obligations, with hefty deductions applied to mobile phone top-ups and SIM card purchases. For instance, if a non-filer reloads their mobile phone with Rs100, a whopping Rs90 will be deducted and transferred to the tax authority. Persistent non-compliance will incur additional penalties, including a 90% tax on new SIM card purchases, recharges, and usage of calling and data plans. The FBR has already identified over 500,000 non-filers and directed telecom companies to block their SIM cards, with thousands already blocked and further restrictions expected soon. Telecom companies have until May 15 to comply with the directive, or face potential legal action from the FBR. Despite initial resistance, telecom companies have now agreed to cooperate with the FBR's measures, signaling a significant crackdown on non-compliance in Pakistan's tax system. #FBR #TaxReforms #NonFilers #WithholdingTax #Pakistan #TaxCompliance #RevenueBoost #Telecom #SIMCards #Taxation #ComplianceEnforcement
Section 87A rebate is now extended up to Rs 7 lakh income. But what does this translate to? Let’s take a deep dive: 🔍 Understanding the Latest Tax Changes: Great news, folks! The Indian tax landscape has seen some significant adjustments recently. Here's a breakdown of what's new: 1️⃣ Section 87A Rebate Extension: Now extended to an income of up to Rs 7 lakh, providing substantial relief for taxpayers. This means if your total income doesn't exceed Rs 7 lakh, you're eligible for a rebate under Section 87A, effectively reducing your tax liability to nil. 2️⃣ Elevated Basic Exemption Limit: The basic exemption limit has been raised to Rs 3 lakh, allowing for more tax-free income in your pocket. 3️⃣ Streamlined Tax System: With five simplified income tax slabs, navigating the filing process has become more straightforward. 4️⃣ Standard Deductions: Salaried individuals and pensioners now enjoy a Rs 50,000 standard deduction, with family pensioners entitled to Rs 15,000, lightening their financial load. 5️⃣ Reduced Surcharge Rate: The highest surcharge rate has been decreased to 25%, easing financial burdens for many. 💼 Maximising Your Financial Strategy: These changes are not just tweaks; they're opportunities. Staying informed about these alterations empowers you to optimise your investment strategies and financial planning. It's time to take charge of your finances! 💡 For those wondering how to claim the Section 87A rebate, here's a simple guide: 1️⃣ Calculate your gross total income for the financial year. 2️⃣ Reduce your tax deductions for savings and investments. 3 ️ ⃣ Arrive at your total income after these deductions. 4️⃣ Declare your gross income and deductions in your Income Tax Return (ITR). 5️⃣ Claim the rebate under Section 87A if your total income falls within the specified limits. 6️⃣ Remember, the maximum rebate for the new tax regime is Rs 25,000 and Rs 12,500 for the old regime. Stay informed, stay empowered! 💪Check out our latest blog post for updates and tips. . . . . #AuraInvestments #TaxReforms #FinancialPlanning #InvestmentStrategies #TaxLaws #Investing #TaxPlanning #taxpayer #financialstrategys #InvestmentPlanning
اسلام آباد: وزارت خزانہ اور آئی ایم ایف نے آئندہ وفاقی بجٹ کیلئے اہم اہداف طے کرلیے۔ آئی ایم ایف مشن اور پاکستانی حکام کے درمیان وزارت خزانہ میں تعارفی سیشن ہوا جس میں پاکستان کی طرف سے وزیرخزانہ، سیکرٹری خزانہ، چیئرمین ایف بی آر اورگورنراسٹیٹ بینک موجود تھے۔ ذرائع کا کہنا ہے کہ مذاکرات میں وزارت خزانہ اور آئی ایم ایف کے درمیان آئندہ وفاقی بجٹ کیلئے اہم اہداف طے کیے گئے جب کہ اس دوران فیصلہ کیا گیا کہ آئندہ مالی سال کے دوران حکومت اسٹیٹ بینک سے قرض نہیں لے گی۔ ذرائع کے مطابق وزارت خزانہ اور آئی ایم ایف نے بیرونی ادائیگیاں بلا تاخیر اور بروقت ادا کرنے پر اتفاق کیا ہے، یہ بھی اتفاق کیا گیا ہے کہ ایف بی آر ٹیکس ریفنڈ ادائیگیاں بروقت کرنے کا پابند ہوگا جب کہ زرمبادلہ ذخائربہتر بنانے اور ادائیگیوں کیلئے انٹرنیشنل مارکیٹ میں بانڈز جاری کیے جائیں گے، درآمدات پرپابندی نہیں ہوگی اورانٹرنیشنل ٹرانزیکشنز کیلئے بھی پابندی عائد نہیں کی جائےگی۔ ذرائع نے بتایا کہ اسٹیٹ بینک، وزارت خزانہ اور وزارت توانائی کی معلومات آئی ایم ایف کو بھیجی جائیں گی، آئی ایم ایف، ایف بی آر، شماریات بیورو اور مارکیٹ بیسڈایکسچینج ریٹ کی معلومات لےگا۔ ذرائع کا کہنا ہےکہ پاکستان اور آئی ایم ایف کے درمیان مذاکرات تقریباً دو ہفتے تک جاری رہیں گے، پاکستان آئی ایم ایف سے 6 ارب ڈالر سے زائد کا بیل آؤٹ پیکج حاصل کرنے کیلئے پر امید ہے۔ #IslamabadUpdates #PakistanEconomy #IMFConsultation #FinanceMinistry #BudgetGoals #EconomicReforms #IMFPakistanDialogue #TreasuryDepartment #StateBank #FinancialStability #FiscalPolicy #InternationalMarkets #TaxReforms #DebtManagement #EconomicDevelopment
Tinubu Orders Review and Suspension of Cybersecurity Levy May 13, 2024 Thedailycourierng Thedailycourierng Suspension of Cybersecurity Levy In the dynamic landscape of Nigerian governance and economics, decisions made at the highest levels of leadership often have far-reaching implications. The recent directive from President Bola Tinubu to suspend the implementation of the cybersecurity levy, pending a review, reflects the complexities inherent in policymaking and the delicate balance between economic imperatives and public welfare. The controversy surrounding the cybersecurity levy stems from its potential impact on electronic transactions and its perceived burden on Nigerian citizens. Introduced by the Central Bank of Nigeria (CBN) following provisions in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024, the levy mandates a 0.5 per cent charge on all electronic transactions, with the proceeds directed to the National Cybersecurity Fund. At the heart of the matter lies a clash between the necessity of bolstering cybersecurity measures and the economic strain imposed on individuals and businesses already grappling with various financial burdens. While cybersecurity is undeniably crucial in an increasingly digital world, the timing and implementation of such a levy raise valid concerns about its potential adverse effects on the economy. The decision by the House of Representatives to call for a withdrawal of the CBN’s circular underscores the ambiguity and contentious nature of the policy. Members of the House expressed concerns over the lack of clarity in the directive and its compatibility with the Cybersecurity Act, highlighting the need for a more transparent and accessible approach to policymaking. President Tinubu’s response to the situation reflects a sensitivity to the economic challenges faced by Nigerians. By ordering a review and Suspension of Cybersecurity Levy, #CybersecurityLevy #PolicyReview #TinubuAdministration #NigerianEconomy #TaxReforms #PublicWelfare #Policymaking #FinancialBurden #TransparencyMatters #StakeholderEngagement
Ambitious' Tax Reforms Could Propel UK Towards Net Zero, Unlocking £57 Billion in Green Economic Growth The Confederation of British Industry (CBI) has called on the government to implement new tax incentives to stimulate investments in the burgeoning green economy, which could contribute tens of billions of pounds annually to the UK's GDP and support the country's climate commitments. https://www.sustainabletimes.co.uk/post/ambitious-tax-reforms-could-propel-uk-towards-net-zero-unlocking-57-billion-in-green-economic-gro?utm_source=instagram&utm_medium=social&utm_content=ap_k7airzyz5n #Investment #Politics #CBI #Taxation #InflationReductionAct #ConfederationofBritishIndustry #RainNewtonSmith #UK #CBI #InvestmentUK #TaxReforms #GreenEconomicGrowth #CBIadvocacy #InflationReductionAct #CBIUK #AmbitiousTaxReforms #RainNewtonSmith #NetZeroUK #GreenGrowthPotential
LAHORE: To address the issue of tax collection, FPCCI President Atif Ikram Sheikh has urged the federal government to carry out comprehensive tax reforms aimed at increasing the tax base and simplifying the tax regime. 🔗Tab the link in bio for full story. #taxreforms #policychange #pakistan #tax
آئی ایم ایف نے ڈومور کا مطالبہ کرتے ہوئے پاکستان کو اربوں روپے کی ٹیکس چھوٹ بتدریج ختم کرنے کی ہدایت کر دی ہے، بجٹ 25-2024 کی تیاریاں جاری ہیں، وزارت خزانہ نے آئندہ بجٹ میں سیلز ٹیکس اور انکم ٹیکس کی رعایتیں اور چھوٹ مرحلہ وار ختم کرنے کی تجویز پیش کر دی۔ ایف بی آر کے ذرائع کے مطابق آئندہ بجٹ میں امپورٹڈ ٹریکٹرز پر ٹیکس عائد کرنے کی تجویز ہے جبکہ کمرشل امپورٹرز پر ودہولڈنگ ٹیکس لگانےچپر غور کیا جاچرہا ہے اور کمرشل امپورٹرز پر 1 فیصد ٹیکس لگانے سےچسالانہ 25 ارب روپے تک ریونیو متوقع ہے، بجٹ میں ٹریکٹرز، کیڑے مار ادویات پر ٹیکس چھوٹ ختم کیے جانے کا امکان ہے۔ ٹیکس چھوٹ ختم ہونے سے آئندہ مالی سال میں 30 ارب روپے کا ٹیکس ریونیو متوقع ہے، ٹریکٹرز اور کیڑے مارادویات پر ٹیکس استثنیٰ کے خاتمے سے زرعی لاگت مزید بڑھ جائے گی، علاوہ ازیں آئندہ بجٹ میں بجلی اور گیس کے بلوں میں دی جانے والی سبسڈی کو بھی ختم کیا جا رہا ہے۔ #TaxReforms #BudgetPreparation #FiscalPolicy #TaxRelief #EconomicPolicy #RevenueGeneration #ImportTax #SalesTax #IncomeTax #TaxationPolicy #AgriculturalSector #FinancialPlanning #GovernmentBudget #SubsidyReform #EconomicDevelopment #FinancialManagement #TaxationSystem #RevenueForecast #BudgetaryMeasures #FiscalManagement #IMF #tbt #TheBlueTruth
Telecom operators in Pakistan have agreed to block mobile phone connections of individuals who have not filed their income tax returns for Tax Year 2023, as announced by the country's tax regulator. The initiative aims to address Pakistan's narrow tax base and persistent tax evasion issues, which contribute to insufficient revenue collection and high fiscal deficits. The Federal Board of Revenue (FBR) plans to gradually block connections in batches, with 5,000 non-filers already communicated to operators. This move is part of broader efforts by the government to expand the tax base and implement structural economic reforms amidst economic challenges. WhatsApp Channel: https://t.ly/7e7lK #PakistanTax #TaxReforms #FBR #EconomicDevelopment #FetchPakistan
Telecom operators in Pakistan have agreed to block mobile phone connections of individuals who have not filed their income tax returns for Tax Year 2023, as announced by the country's tax regulator. The initiative aims to address Pakistan's narrow tax base and persistent tax evasion issues, which contribute to insufficient revenue collection and high fiscal deficits. The Federal Board of Revenue (FBR) plans to gradually block connections in batches, with 5,000 non-filers already communicated to operators. This move is part of broader efforts by the government to expand the tax base and implement structural economic reforms amidst economic challenges. WhatsApp Channel: https://t.ly/7e7lK #PakistanTax #TaxReforms #FBR #EconomicDevelopment #FetchPakistan
ملک میں سیگریٹ انڈسٹری میں ٹیکس چوری سے سالانہ 300 ارب سے زائد کا نقصان ہونے لگا۔ مالی سال کے ابتدائی 10 ماہ کے مقابلے رواں سال ترسیلات 3 فیصد زائد ہیں۔ ان مسائل کی نشاندہی کرتے ہوئے ایس آئی ایف سی(SIFC) نے ایف بی آر(FBR) میں اصلاحات، ٹیکس بیس کو وسیع کرنے اور ٹریک اینڈ ٹریس سسٹم کو یقینی بنانے کیلئے کوششیں جاری رکھی ہوئی ہیں۔ #TaxReforms #TaxEvasion #Economy #Pakistan #TaxationSystem #FinancialReforms #TaxPolicy #Corruption #SIFC #FBR
Explore India's tax landscape transformation over the last decade under the Modi government, featuring pivotal reforms like GST, simplified income tax structures, and faceless assessments. Join Monika Yadav from The New Indian Express as she delves into the successes and setbacks within India's taxation system in the past ten years. Link in bio #narendramodi #bjp #NDA #gst #incometax #taxreforms #indiantaxation #ModiGovernment #nirmalasitharaman #loksabhaelections #newtaxregime #election2024 #monikayadav #monikajournalist #thenewindianexpress
IMF advises Pakistan to consider taxing civilian and military pensioners as talks for financial aid gain momentum. Could this decision shape Pakistan's economic future? Dive into the details! . . . . . . . . . . . . . . . . . . . . . . . . . . . . #PakistanEconomy #IMF #FinancialAid #Taxation #Pensioners #Negotiations #EconomicFuture #PakistanNews #FiscalPolicy #FinancialStrategy #PakistaniGovernment #IMFRecommendations #TaxReforms #EconomicDevelopment #FinancialSupport #BailoutTalks #IMFPakistan #FinancialNews #PakistaniFinance #IMFAdvice
The Tax Laws (Amendment) Act, 2024 has introduced significant changes to appeal timelines and fees. Key highlights include: -Increased appeal fees for companies and other cases -Reduced timelines for appeals to the Appellate Tribunal (ATIR) from previous 60 days to 30 days -Reduced timelines for filing reference to High Court from previous 90 days to 30 days -Reduced maximum stay by ATIR period to 90 days from previous 180 days -Condition of 30% tax deposit for stay by High Court Stay informed and plan accordingly! #TaxReforms #AppealTimelines #FeeChanges #TaxLawsAmendmentAct2024 #TaxpayersBeware #LegalUpdate
🔔 Latest Update 🔔 The International Monetary Fund (IMF) has proposed significant changes to Pakistan's income tax system, including lowering the highest taxable income threshold for salaried individuals to Rs333,000 per month, resulting in a 35% income tax rate. 💼💰 Under the IMF's recommendations for the 2025 budget, Pakistan is urged to maintain the current income tax exemption threshold at Rs50,000 per month and withdraw tax credits and allowances, particularly for teachers and researchers. These measures aim to generate approximately Rs650 billion in additional revenue from salaried and business-income individuals. 📊💵 However, accepting these demands could pose challenges for both the government and the people, potentially impacting salaried individuals and creating unease among taxpayers. 🤔 Stay tuned for updates as Pakistan navigates negotiations with the IMF and addresses these proposed changes to its tax system. 🇵🇰 #IMF #TaxReforms #PakistanFinance
We are thrilled to announce our upcoming Middle East Tax Conference 2024, in collaboration with Kreston Global held online on 15th May at 10:00 AM (UK time). Amidst global tax reforms shaping the business landscape, it's essential for companies to navigate these changes adeptly. Our conference convenes industry experts to delve into the impact of reforms on domestic tax systems and economies across the Middle East. Our speakers include Surandar Jesrani, Group CEO & Managing Partner at MMJS Consulting, Mark Taylor - Tax Advice, Chair of Global Tax Group, Osama Alnobani, Executive Director of Kreston NBB Saudi, Aunali Merchant, Associate Partner at MMJS Consulting, Ran Simon, Managing Partner at Ezra Yehuda-Rozenblum-Kreston IL Group and Rishi Sapra, Director at MMJS Consulting. Don't miss out on insightful discussions and strategic insights. Register now: https://buff.ly/3vOBWcl #mmjsconsulting #MiddleEastTaxConference #Krestonglobal #tax #conference #TaxReforms #BusinessStrategy
📊 Spring Budget 2024 Summary 🌱 Catch the highlights from the latest Spring Budget announcement and stay informed about the key changes affecting your finances. Swipe to see the main points > For a comprehensive overview or further details, feel free to reach out to us! 💬 (Approver Quilter Financial Services Limited. April 2024) #BudgetUpdates #FinancialAdvice #TaxReforms #WealthManagement #InvestmentStrategy #FinancialPlanning #Budget2024 #TaxChangesUK #BudgetAnnouncement #TaxLaw #FinanceNews #FinancialWellness #MoneyMatters #BudgetAnalysis #TaxPlanningTips #EconomicUpdates #FinancialEducation #UKBudget #BudgetHighlights #TaxPolicy #BudgetReview #UKFinanceNews #TaxLawChanges #FinancialGuidance #TaxRelief #FinancialInsights #BudgetImpact #MoneyManagement #Budgeting101 #FinancialLiteracy
Prime Minister Shehbaz Sharif stresses the imperative of boosting revenue collection, envisioning Pakistan's potential to outpace larger economies like India. Amid concerns of substantial tax evasion, estimated at Rs5.8 trillion annually (6.9% of GDP), PM Shehbaz underscores the urgency for action. #PakistanEconomy #RevenueCollection #ShehbazSharif #TaxEvasion #GDP #IndiaEconomy #GST #FBR #CorruptionCrackdown #MeritBasedPromotions In contrast, India celebrates a remarkable $25.15 billion in GST collections for April, marking a 12.4% rise from the previous year. PM Shehbaz, speaking at an FBR ceremony honoring diligent officers, outlines Pakistan's potential to surpass revenue targets, aiming for over Rs24 trillion against the annual target of Rs9.4 trillion. #IndiaGST #RecordCollection #FBRHonor #RevenueTargets #EconomicGrowth #CorruptionFreePakistan #Accountability #PromotingMerit #PakistanProgress #TaxReforms He emphasizes the dire need to combat corruption, inefficiency, and negligence, stressing accountability and merit-based promotions within the FBR. The prime minister commits to stamping out corruption and fraud, ensuring that rewards and promotions are solely merit-driven. #CombatCorruption #AccountabilityMatters #FightingInefficiency #Meritocracy #PakistanDevelopment #HonestyInGovernment #Transparency #TaxReformPakistan #FBRImprovement #EconomicProsperity
Finance Minister Nirmala Sitharaman has debunked rumors of impending income tax revisions post-elections, quelling market unrest triggered by speculative reports. The controversy arose from claims of potential tax overhauls, prompting a sharp market decline. Sitharaman swiftly clarified on social media, denouncing the rumors as baseless speculation. Her intervention helped restore market stability, reaffirming the government's commitment to maintaining a predictable tax environment. The incident underscores the importance of verified information and transparent communication in safeguarding investor confidence and fostering economic stability. #taxreforms #marketstability 📉
Breaking News: GST Collections Surge, Cross Rs 2 Lakh Cr Mark in April! Record Revenues Reflect Economic Strength. Record-breaking GST collections hit Rs 2.1 lakh crore in April, praised by Finance Minister Sitharaman. Driven by economic strength and compliance efforts, the surge fuels expectations for upcoming GST reforms. CGST at Rs 43,846 Cr, SGST at Rs 53,538 Cr, IGST at Rs 99,623 Cr. #GSTCollection #EconomicGrowth #TaxReforms #AhmedBadMirrorOfficial #AhmedBadMirror
📢 CBDT Circular No. 6/2024 offers relief to deductors/collectors grappling with inoperative PANs. No liability if TDS/TCS deducted at normal rate for transactions till March '24, provided PAN linked to Aadhaar by May '24 #jainprekshaandco #CBDT #TaxRelief #AadhaarLinking #TaxCompliance #CBDTUpdate #IncomeTaxRelief #AadhaarIntegration #TaxReforms #FinancialEase #DeductorResponsibility #followformore #followformoreupdates
This month welcomes the revised national insurance contributions (NICs) rates, signalling a significant shift in payroll management across the UK. Are you a tax professional navigating these changes? Here's what you need to know to stay ahead in your field 👇 Looking for a new challenge in tax? As the landscape evolves, so do the opportunities - let's explore your next big opportunity together! #NICs #taxchanges #payrollmanagement #taxprofessionals #taxadvice #taxlaw #taxupdates #UKtax #taxation #taxregulations #taxreforms #taxconsulting #taxplanning #taxservices #taxcareers
Tax tools and deadline dates! 💸📅 We break down the new tax reporting reforms, the HMRC support available and the key deadlines for sole traders. Learn how you can prepare for the changes via the link in our bio. 🔗 #HMRC #SelfAssessment #TaxReporting #IncomeTax #TaxReforms #SoleTrader #Partner #Partnership #LLP #Business #SmallBusiness #BusinessTax #BusinessOwner #SmallBiz #LocalBusiness #Founder #Owner #Director #Entrepreneur #OnlineBusiness #SME #Startup #ShopLocal #ShopSmall #SupportSmall #SupportLocal
UAE’s Tax Evolution: A Path towards Sustainability and Growth 𝒇𝒐𝒓 𝒎𝒐𝒓𝒆 𝒅𝒆𝒕𝒂𝒊𝒍𝒔👇👇👇 https://en.channeliam.com/2024/05/01/uae-tax-framework-sustainable-development/ #UAE #TaxFramework #SustainableDevelopment #GlobalLeadership #TaxReforms #FinancialSustainability
📈 Are you prepared for the upcoming tax reforms? Our article explores how these changes could affect your investment strategies. Stay informed, stay proactive. #TaxReforms #InvestmentInsights https://iwo.li/SEGKQw
XIV Encontro Regional Latino-americano IFA LATAM. A abertura do Congresso IFA Rio 2024 será destacada pelo painel do Centro Interamericano de Administrações Tributárias (CIAT). Este painel contará com a participação de diversas autoridades da América Latina para discutir as recentes reformas tributárias no Brasil e em outros países. Mais informações e inscrições em: www.ifario2024.com #IFALATAM #TributaciónLatinoamericana #ReformasTributarias #CIAT #ConferenciaRio #ImpuestosLatinoamerica #PolíticaTributaria #ConferenciaTributaria #Impuestos2024 #TributaçãoLatinoamericana #ReformasTributarias #CIAT #LatinAmericaTax #TaxReforms #TaxationConference