Saturday, 21 December 2024
Trending
8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 1500 Prize Bond Draw List 15 August 2022 Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online How to Check and Verify Vehicle Ownership | Car Registration Online Check 750 Prize Bond List 2022 | Prize Bond Schedule 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC Prize Bond 750 list 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 PM Imran Khan Big Incentive for Construction Industry In Pakistan FBR warns retail stores to register with point of sale (POS) System to avoid heavy fines FBR increased the limit of turnover for withholding agents Ministry of commerce announced the import policy of new and used cars under Import Policy Order, 2020 Free use of foreign currency account outside Pakistan stopped by government FBR sealed Jazz head office for non-payment of taxes Taxpayers Profiling: Submit otherwise ready to be inactive Digital Pakistan: PTCL to launch public Cloud platform State Bank of Pakistan (SBP) authorized to non-resident individuals holding Pakistan Origin Card (POC) to open foreign currency account Pakistan launches National Job Portal Sales tax rates | Third Schedule goods | Eighth Schedule goods | Retail price | Reduced rate of sales tax Cyber security advisory issued by PRAL for FBR employees working from home Taxpayers are still allowed to file income tax returns: FBR Withholding tax on Pakistan-made mobile phones abolished Annual Income tax return filing last date December 31 2020 for companies FBR's datewise activities in year 2020 Government appointed permanent chairman of the FBR after six months The State bank of Pakistan launching a new payment system called ‘Raast’ Japan action against trade of illegal used cars in Pakistan FBR called for income tax proposals for 2021/2022 budget Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR Tax on Agricultural Income in Pakistan Taxpayers to update profile to avoid penalty, and exclusion from ATL National Tax Council (NTC) lacks the constitutional Cover My Refund in IRS Customers complaints: HBL Bank on Top of the list Cabinet approved budget proposals to meet the IMF's Demands FBR Submits Proposed Tax Exemptions Withdrawal Bill in National Assembly secretariat PTBA Proposed the FBR to extend the last date for updating taxpayers’ profile Pakistan to import sugar, cotton from India: Hammad Azhar Press Conference Rupee Becomes the World's Best Performing Currency against Dollar FBR to reintroduce track and trace system for tobacco products by the end of June 2021 Withdrawal Of 15,000 & 7,500 Denomination National Prize Bonds From Circulation FBR Reduces Sales Tax Rate on Petroleum Products Lahore High Court dismisses plea against ban on Rs 7,500 prize bond SBP extends prize bond encashment deadline Shaukat Tarin warns Tax defaulters of action after third-party audit Real Estate Sector Demands Extension In Construction Package & Amnesty Scheme Proposed Federal Development Budget Senate Panel criticized FBR for sending tax notices Taxpayers to update profile to remain in ATL and skip fine
Shabbar-Zaidi-zero-rated-exports
UPDATES

Shabbar Zaidi opposed restoring Pakistan’s export sector to zero rating

By

Former FBR chairperson Shabbar Zaidi tweets about the zero rating of exports in Pakistan.

Previously, exporters paid taxes and claimed refunds after exports. The previous government introduced zero rating in the last phase of its tenure, but on the advice of Zaidi, reversed by the PTI government.

Syed Shabbir Zaidi, former chairman of the Federal Board of Revenue, has spoken out against the rejection of zero rate for Pakistan’s exports, saying it would be “regressive” to change it. Former Federal Board of Revenue Chairperson Shabbir Zaidi believes that restoring Pakistan’s export sector to zero rating in this age of technology is “unnecessary”.

“I fought and won the war for the abolition of zero-rating for export sector.”

“If this is done then we should forget about any tax system in Pakistan,” said Zaidi, while calling for an improvement in the refund system. “In this age of technology this will be absurd,” he said.

Tweet | Shababr Zaidi |

Earlier, Abdul Razzaq Dawood, Advisor on Trade and Investment, allegedly zeroed in on the textile and apparel policy to be considered by the ECC for the entire textile chain in 2020-25.

See also  FBR takes new steps for ease of doing business & taxpayers facilitation

Meanwhile, the All Pakistan Textile Mills Association (APTMA) said in a tweet on Wednesday that the withdrawal from the zero rating was an extreme move by then-FBR chairman Shabbir Zaidi. It was a reactionary policy.

“Abolition of zero-rating brought exporters to their knees, seeking the return of their own money,” said APTMA.

Tweet | APTMA |
Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

The APTMA further said: “Withdrawal of zero-rating has led to over Rs 250 billion stuck liquidity. That would have proved invaluable in expansion and modernization of the industry,” it said.

APTMA

Shabbar Zaidi Tweet

FBR upgrades FASTER to FASTER PLUS system for issuance of Refunds : ALSO READ

APTMA Tweet

Source | TEXTILE | SHABBAR ZAIDI | FBR | APTMA | ZERO RATING | TAXATION |

See also  No More Income Tax on Educational Fees Under Section 236I

LATEST POSTS

  • fbr introduces new tax payments system
    ایف بی آر نے ٹیکسوں کی ادائیگیوں کا نیا سسٹم متعارف کرا دیا
    FBR introduces ePayment 2.0 ایف بی آر نے حال ہی میں ایک نیا اور بہتر ٹیکس ادائیگی کا نظام متعارف کرایا ہے جس کا نام “ای پیمنٹ 2.0” ہے۔ یہ نظام آئی آر آئی ایس 2.0 پورٹل پر دستیاب ہے،…
  • Tax Advice for 2024: Do not File Incomplete Tax Returns
    Tax Advice for 2024: Do not File Incomplete Tax Returns
    Tax Advice for 2024: Do not File Incomplete Tax Returns Tax Advice for 2024: Do not File Incomplete Tax Returns. Whenever tax season approaches tax filer is busy in collecting and discussing his tax returns working with tax consultant and…
  • Extension of Date in Submission of Sales Tax and Federal Excise Return
    Extension of Date in Submission of Sales Tax and Federal Excise Return
    Extension of Date in Submission of Sales Tax and Federal Excise Return Extension of Date in Submission of Sales Tax and Federal Excise Return. Recently the Federal Board of Revenue (FBR) has extended the last date for submission of Sales…
  • Tax Concept: Meaning & Types of Taxes in Pakistan
    Tax Concept: Meaning & Types of Taxes in Pakistan
    Tax Concept: Meaning & Types of Taxes in Pakistan Tax Concept: Meaning & Types of Taxes in Pakistan. In Pakistan, tax concepts refer to the principles of taxes that control the taxation system in the country. Here is the list…
  • Rs 750 Prize Bond Draw List 15 April 2024
    Rs 750 Prize Bond Draw List 15 April 2024
    Rs 750 Prize Bond Draw List 15 April 2024 Rs 750 Prize Bond Draw List 15 April 2024. The 98th draw for the Rs. 750 prize bond is scheduled to take place in Hyderabad on April 15, 2024. Here are the details: Prizes of Rs 750 Prize…
  • Active Tax payer list 15 April 2024
    Active Tax Payer List 15 April 2024
    Active Tax Payer List 15 April 2024 Active Tax Payer List 15 April 2024. Following is the active tax payer list issued by the Federal Board of Revenue (FBR) on 15th April 2024. This list contains the taxpayers details who…

Tax-news-in-urdu
www.TaxUrdu.com
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

1 Comment

Comments are closed.
Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: