MKY Law Associates & CO

21/03/2026

14/07/2025

File Your Income Tax for the Year 2025 ASAP!
Get the best quality service with expert advice and hassle-free tax return filing.
Message now for consultation and to file your return!
Contact No: 0315-8371370-0300-8371457

13/09/2022

11/05/2022

Federal Minister for Finance and Revenue, Miftah Ismail Saturday agreed, in principle, to introduce a fixed tax scheme for small traders and resolve all taxation-related issues of business and trade including the condition of providing a Computerized National Identity Card (CNIC) numbers of the unregistered buyers.

Ismail held a meeting with a delegation of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) led by its President Irfan Iqbal Shaikh at the Finance Division, here.

The FBR chairman and senior officers also attended the meeting.

Ismail said the government will present a pro-people and business-friendly budget by incorporating viable suggestions from all the stakeholders.

Sources told Business Recorder that the FPCCI presented the case of the small traders across the country. The finance minister agreed to introduce a fixed tax regime for small traders with simple documentation.

It was pointed out that if the businessmen make sales to unregistered persons, the CNIC of the consumers has to be provided otherwise, the corresponding amount of input tax would be disallowed.

The FBR should not create problems for the business community by seeking CNICs of the unregistered buyers, as a penalty in the form of three percent extra sales tax has already been charged besides 17 percent sales tax, the FPCCI informed the meeting.

There is a likelihood that the said condition may be withdrawn in the upcoming budget, the sources said.

According to the sources, the meeting also discussed the possibility of the export of surplus sugar. The authorities may agree on the export of surplus sugar.

Ismail welcomed the delegation and shared that macroeconomic stability is the prime concern of the present government. Therefore, the government is strictly committed to ensuring financial discipline through effective and farsighted policies for enhancing the overall level of growth in the country.

13/05/2021

Eid Mubarak to everyone. May you all have an extremely satisfied and also blessed Eid. Take pleasure in these outstanding days and remember those that need our help. Regards : ADVOCATE MUHAMMAD KASHIF MEMON

24/05/2020

Eid Mubarak to everyone!