Federal govt approves major tax exemptions for GB: Leghari
- 24-Sep-2025
ISLAMABAD: In a significant move aimed at economic relief for Gilgit-Baltistan, Federal Minister for Power Awais Ahmed Khan Leghari on Wednesday announced various tax exemptions on goods imported for local consumption, including relief from federal levies such as sales tax, income tax, and excise duty. Speaking to the media, flanked by Chief Minister of Gilgit-Baltistan, […]
Karachi traders observe strike against new tax laws
- 19-Jul-2025
KARACHI: Traders and the business community in Karachi observed a complete shutdown on Saturday in protest against what they called controversial provisions in the Finance Bill and new sales tax regulations. All major and minor commercial centres across the city remained closed in response to a strike call issued by various traders’ unions. Protesters demanded […]
PPP’s Nasir Shah urges federal govt to withdraw tax on solar panels
- 19-Jun-2025
KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah has urged the centre to withdraw the decision to tax solar panels. Addressing a press conference in Karachi, Sindh Minister Syed Nasir Shah said solar taxation must be brought down to zero per cent. Highlighting Sindh’s development achievements, Shah stated that nearly 450 development schemes have been […]
No more free rides, all segments must pay tax for national interest: FinMin Aurangzeb
- 20-Feb-2025
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said here on Thursday that country’s retail sector, which contributes a significant 19% to the country’s GDP, is paying a mere 1% in taxes, sparking concerns over the sector’s lack of contribution to the national exchequer. Speaking at a conference on “Retail Reimagined: Innovate, Collaborate […]
Salaried class pays more tax than wholesalers, retailers
- 13-Feb-2025
ISLAMABAD: The salaried class has paid more income tax than wholesalers and retailers during the current fiscal year, ARY News reported on Thursday. According to the latest numbers, the salaried class is bearing a much heavier tax burden compared to others. During the first seven months of the current fiscal year, the salaried class paid […]
Kia contests $14 million India tax demand
- 08-Feb-2025
Kia on Friday said it is contesting an Indian tax demand of $14 million for wrongly using free trade agreements to claim lower tariffs on some electronic car part imports, the latest tax tussle between the South Korean automaker and New Delhi. Tax investigations in India can drag on for years and are often a […]
WATCH: What is the TDX tax imposed on shopkeepers
- 30-Jan-2025
KARACHI: The traders community rejected the Tajir Dost Scheme (TDS) introduced by the Federal Board of Revenue, ARY News reported. Traders associations described the TDS as an anti-trade scheme that would lead to economic disaster for the traders. They said that the Federal Board of Revenue (FBR) is sending them tax notices of Rs60,000 per […]
Kuwait approves 15% tax on multinationals
- 29-Dec-2024
The Kuwait government has okayed a draft resolution introducing a 15% tax on multinational companies operating across multiple countries. The measure passed by the Kuwaiti cabinet is aimed at curbing tax evasion and preventing the shifting of tax revenues to foreign jurisdictions, will take effect on January 1, 2025. The decision was made during the […]
UAE to join global minimum tax rate on multinationals
- 09-Dec-2024
The United Arab Emirates (UAE), home to the regional headquarters of numerous multinational companies, said Monday it would introduce a 15 percent tax rate on corporate profits from January 2025. The move will bring the UAE in line with efforts towards a global minimum corporate rate. “This strategic step reflects the engagement of the Emirates […]
Global economy chiefs fret over a Trump return
- 28-Oct-2024
Low growth, high debt and escalating wars topped the official agenda at the International Monetary Fund and World Bank annual meetings, but finance leaders spent much of their energy worrying about the potential impacts of a return of Donald Trump to power in November’s US presidential election. Republican candidate Trump’s gains in recent polls to […]