Tag: exemption

Cellcos refused tax exemption on SIMs verification

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article image STAFF REPORT ISB: The Federal Board of Revenue (FBR) has categorically conveyed to the telecom companies that the government’s policy does not allow any new exemption of duties and taxes under compensation package for telecom sector. According to sources, a meeting of FBR team of tax managers and CEOs of all telecom operators held at FBR House last week on the re-verification of SIMs under the National Action Plan. The meeting mainly discussed the compensation package for telecom…Read More

ECC reviews proposal for exemption on ING import

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article image STAFF REPORT ISB: The Economic Coordination Committee of the Cabinet (ECC) here has considered the proposal for exempting LNG import from Gas Infrastructure Development Cess (GIDC) and GST. The proposal was submitted by the Ministry of Petroleum and Natural Resources for exempting LNG import from GIDC and GST. Federal Minister for Finance Senator, Muhammad Ishaq Dar chaired the meeting of the ECC in Islamabad at the Prime Minister’s Office. The chair after deliberations accorded…Read More

Cellcos seek ST exemption on CN rates

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STAFF REPORT IBD: The local mobile operators have joined hands to seek government’s exemption for collection of sales tax on interconnection charges that they charge from customers.According to reports, the Federal Board of Revenue is currently in process of evaluating cellular firms’ application to seek sales tax exemption on interconnection charges under the section 65 of the Sales Tax Act, 1990.The cellular companies say that sales tax is not applicable on interconnection charges. It may…Read More

Govt seeks procurement rules exemption from 3G contract

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article image MONITORING REPORT IBD: Pakistan has been gifted with large amount of natural resources from fertile land to large amount of mineral deposits to a large pool of human resources."Pakistan’s minerals consist some of the world’s largest reserves of coal, gold, copper, chrome, gas, rare earth, rock salt, gemstone, marble, onyx and granite and 42 other minerals," Pakistani High Commissioner in Singapore, Hasan Javed, said this while speaking at a seminar recently held in Singapore.He…Read More