Tax Solutions

Tax Solutions We have classified our company operations to key business areas; i.e Wealth Statements, Income & Sale

10/06/2022

Sales Tax on FERTILISER increased from 2% to 10%

Sales Tax on natural gas IS INCREASED FROM 5% to 10%

Budget 2022-2023Major Changes for Salaried Individual earning 600,000 to 1,200,000 shall pay Rs. 100 tax only. Business ...
10/06/2022

Budget 2022-2023

Major Changes for Salaried Individual earning 600,000 to 1,200,000 shall pay Rs. 100 tax only.
Business Individual & AOP shall be exempt from tax upto Net income of Rs. 600,000.
Small Companies to be charged 20% tax rate.
Banking Companies to be charges 42% tax rate.

The FBR (Federal Board of Revenue) has released the details of the stimulus packages & allowances given to the automobil...
05/07/2021

The FBR (Federal Board of Revenue) has released the details of the stimulus packages & allowances given to the automobile industry through the Finance Act 2021-22.

In accordance with the FBR’s budget guidelines published to the Investors of Customs here today, to bring down rates of small cars & to support lower-middle socio-financial group upgrade from the motorcycle to their first family car, the following measures have been adopted:

1. The earlier divergence of cars “up to 800cc” & “exceeding 800cc” has been substituted with “up to 850cc” & “exceeding 850cc” in separate places in tariff.
2. Customs Duty on import of non-localized Completely Knocked Down (CKD) sets of vehicles up to 850cc has been decreased from 30 % to 15 %.
3. 7 % additional customs duty (ACD) on CKD sets & seven 5 ACD & 15 % Regulatory Duty (RD) on Completely Built-Up (CBU) cars up to 850cc have been discharged for 2 years.
4. Customs Duty on electric vehicles (EVs) in CBU form cut down to 10 % from 25 % for commercial dealers whereas there is a decrease of five % from 12.5 percent has been done for the imports by the local companies of EVs under SRO 656(I)/2006 for 1 year.
5. Customs Duty on import of non-localized CKD kits for inflexible lorries above five tons GVW falling under HS Code 8704 decreased from the current 10 % to 5 %.
6. Customs Duty lowered to 4 % on the parts for Hybrid Electric Vehicles (HEVs) & 3 % for Plug-in Hybrid Electric Vehicles (PHEVs) by the addition of new Part-V(B) of Fifth Schedule.
7. Customs Duty on sub-assemblies of vehicles of PCT leading 87.11 (except for motorcycle rickshaw of PCT heading 8711.3020) decreased from existing 20 % to 12.5 %.
8. For motorcycles rickshaw of PCT moving 8711.3020 Customs Duty on localized CKD tools is 30% for new manufacture or new model exceeding 200cc as certified by EDB for two years.

Tax relief for the auto sector is expected to be enhanced for cars up to 1,000cc in the Finance Bill 2021, with the aim ...
24/06/2021

Tax relief for the auto sector is expected to be enhanced for cars up to 1,000cc in the Finance Bill 2021, with the aim of promoting affordable cars and localisation in the country.

The Finance Bill presented in the National Assembly proposed tax measures for vehicles up to 850cc under the Customs Revenue Measures and suggested exemption of Additional Customs Duty (ACD) and Regulatory Duties (RD). It further proposed reduction of Customs Duty (CD) from 30 per cent to 15pc. For Complete Built-Up Unit (CBU), it was proposed to reduce CD from 25pc to 10pc while for local manufacturing from 12.5pc to 5pc.

During the briefing, Mr Bakhtyar highlighted that the new auto policy will help provide affordable small cars from 850cc to 1,000cc.

Meanwhile, an official of the Ministry of Industries and Production (MoIP) said that there were limited cars below the range of 850cc and enhancing the engine capacity up to 1,000cc would be beneficial for the customers as well as the industry.

“Currently only a limited number of vehicles are below the 850cc category and if the range is enhanced to 1,000cc many auto companies already present in Pakistan would be able to launch small car models in the country,” the official said.

‏Budget 2021-22‎
11/06/2021

‏Budget 2021-22

‎

11/06/2021

‏قُرآن پاک میں استعمال ہونے والے کاغذ کی درآمد پر کوئ ٹیکس یا ڈیُوٹی نہیں ہوگی-
مدینے کی ریاست

Before deep pocket starts portraying defence budget as 80% of total budget, here are actual figures of defence budget fr...
11/06/2021

Before deep pocket starts portraying defence budget as 80% of total budget, here are actual figures of defence budget from

1373/8487 * 100 = 16.1 %

So defence budget is only 16% of total budget and u can also see chart below with expanse per soldier in year 2020.

11/06/2021

‏موبائل فونز پر ڈیوٹی 12.5 فیصد سے کم کرکے 8 فیصد کم کرنے کا اعلان-

11/06/2021

‏حکومت کا 850 سی سی کی گاڑیوں پر فیڈرل ایکسائز ڈیوٹی ختم کرنے کا اعلان
ڈیوٹی ختم ہونے سے چھوٹی گاڑیوں کی قیمت میں
ڈھائی سے 3 لاکھ تک کمی ہوگی

11/06/2021

-Customs duty reduced from 11% to 3%

-GST rates are being reduced

11/06/2021

Strong growth in FY21 under PM Imran Khan:

➡️ industry: 3.57%
➡️ Manufacturing: 8.7%
➡️ Construction Sector: 8.34%
➡️ Service Sector: 4.43%

These sectors will keep improving in next FY too, InshAllah

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