This indicates that the juice industry has hit the Laffer Curve The Fruit Juice Council — a body representing the formal juice industry – has demanded the government to reduce the FED rate on the juice industry to 15%. The current 20% FED (on top of existing 18% GST) has stalled the juice industry’s growth…
NA committee rejects 18% ST on imported solar panels ISLAMABAD: The National Assembly Standing Committee on Finance on Tuesday unanimously rejected the proposed 18% sales tax on the import of solar panels, while the government also announced the withdrawal of another controversial measure to increase sales tax on hybrid vehicles, reversing both the anti-environment initiatives….
Suzuki MD says 18% tax will impact jobs, push up vehicle prices ISLAMABAD: Pak Suzuki Motor Company has cautioned the government that the proposed increase in general sales tax (GST) in the budget for fiscal year 2025-26 may result in a significant decline in sales of the auto industry, which will negatively impact original equipment…
Price of a tola of 24-karat silver hikes to Rs3,878 The price of gold in Pakistan and globally witnessed a massive decrease on Wednesday after a few days of minimal drop. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola saw a drop of Rs2,245 on Wednesday…
Republicans in the US Senate have unveiled their version of a sprawling tax and spending bill, after it narrowly cleared the House by a single vote roughly two weeks ago. Their first draft of the so-called “big, beautiful bill” has mostly kept House Republicans’ provisions intact but with some notable differences, including increased cuts to…
A deal removing some trade barriers between the UK and US has been signed off by President Donald Trump. The move will bring into force parts of an agreement agreed between the two countries last month, and reduce tariffs on UK cars being shipped to the US. It comes after weeks of talks to implement…
Elon Musk’s X has challenged a New York state law that requires social media companies to disclose how they monitor hate speech, extremism, and other contentious content. In a lawsuit filed on Tuesday, the social media platform, formerly known as Twitter, argues that the law forces companies to disclose “highly sensitive and controversial speech” that…
TikTok will live on for at least another three months in the United States, as President Donald Trump is poised to extend a sale or ban deadline for the third time since taking office this year. “President Trump will sign an additional Executive Order this week to keep TikTok up and running,” White House Press…
• 39 departments ‘exceed’ their allocations for FY25; three dozen divisions ‘save’ around Rs2tr• Massive chunk of money spent on debt servicing and related payments ISLAMABAD: At least 39 government departments – notably the power and defence divisions – spent more money than they were allocated for the outgoing fiscal year, while around three dozen…
ISLAMABAD: The government is reevaluating the powers granted to Federal Board of Revenue (FBR) officers to arrest suspected tax evaders and adding guardrails to prevent arbitrary detentions after concerns expressed by businesspeople and lawmakers over the blanket authority and its potential misuse. Prime Minister Shehbaz Sharif on Monday formed a committee to reexamine the matter…
