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Tag Archives: tax reforms

World Bank recommends tax reforms for Ukraine

KIEV: The World Bank has issued a report outlining a number of recommended fiscal reforms to help Ukraine establish sustainable public finances. The report noted that Ukraine has been running general Government deficits for the last 20 years. Despite fiscal tightening in 2014, the fiscal deficit remained high at 4.6 percent of gross domestic product (GDP) due partly to weak ... Read More »

Philippines to start e-filing of taxes through E-FPS facility from Jan 1

MANILA: Philippines has decided to start electronic filing of tax from January 1, 2015, when the RR is expected to take effect for all their filed returns, e-FPS will have to be utilized by taxpayers included in the Taxpayer Account Management Program (TAMP). The Philippines’ Bureau of Internal Revenue (BIR) has issued a Revenue Regulation (RR) that makes it mandatory ... Read More »

SRO 608: Punjab chambers in unison against tax at retail level

LAHORE: All major chambers and industrial representative bodies of Punjab, through a unanimous resolution, have pledged to fight against taxation at retail level, calling for immediate withdrawal of SRO 608 and extension in tax returns filing date. The resolution was adopted at a meeting convened by the Lahore Chamber of Commerce & Industry. The meeting was convened to discuss Tax ... Read More »

Chambers across country urge FBR to withdraw SRO-608

LAHORE: The Punjab Chambers of Commerce and Industry and trade associations, through a unanimous resolution, have called for immediate withdrawal of the controversial SRO-608 and extension in tax returns filing date. The resolution was adopted at a meeting convened by the Lahore Chamber of Commerce and Industry here on Tuesday. The meeting was convened to discuss tax reforms. Representatives of ... Read More »

Bajwa reviews tax operations, meets British delegation

ISLAMABAD: Federal Board of Revenue Chairman Tariq Bajwa has instructed all field formation officers to gear up their efforts to achieve the revenue target for the current fiscal year. As per details, the FBR chairman has given the instructions to officers during a presentation given by member IT Miss Ra’ana Ahmad at the FBR headquarters. In this presentation, member IR ... Read More »

LCCI, ICAP to form working group on tax reforms

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Institute of Chartered Accountants of Pakistan (ICAP) have decided to form Joint Working Group on Tax Reforms and to resolve the tax-related issues of the business community. This was decided at a meeting between the LCCI President Engineer Sohail Lashari and Chairman CPD Committee of Institute of Chartered Accountants of ... Read More »