According to the Sales Tax Act 1990 issued by the Federal Board of Revenue (FBR), 25% sales tax will be levied on the import of mobile phones worth more than $500 per set. FBR has issued updated Sales Tax Act, 1990 and Federal Excise Act, 2005 till 30th June 2024 to incorporate the amendments made … Read more
Taxpayers are those who are subject to domestic tax. Are you included? (Antara) TAXES are the primary tool governments use to collect the revenue needed to provide public services and finance state activities. Who is taxed can vary depending on the type of tax and the laws of the country. Below are some groups that … Read more
Paying taxes is an obligation for every citizen and business entity in Indonesia. Here are the impacts and sanctions for not paying taxes. (Antara) PAYING taxes is an obligation for every citizen and business entity operating in Indonesia. The taxes paid will be used by the government for infrastructure development, education, health, and various other … Read more
To increase the revenue of the government by expanding the tax net, the Federal Board of Revenue has decided to collect tax from retailers from Rs 100 to Rs 10 thousand per month. The Federal Board of Revenue has also decided to extend the scope of Fixed Retailers Scheme to 42 cities. Tax will be … Read more
July 10, 2024 Reward the honest. Punish the truly dishonest, do not torture taxpayers. This is the path of the fiscal revolution that the center-right is implementing, claims Maurizio Gasparri, president of the Forza Italia senators. “I express great satisfaction for the success of the battle that we have led with Forza Italia, in agreement … Read more
State entities and companies mentioned in the Official Gazette will be able to import “corporate movable goods” without paying VAT until the end of August The Venezuelan State has extended until August 31 the exemption from taxes on imports by companies and public administration entities in Venezuela; the measure came into effect on July 1. … Read more
Wartime shortages The fund said its annual review of the U.S. economy projects that the debt-to-GDP ratio will reach 140 percent by 2032, much higher than the current level of 120.7 percent. Such a sharp increase, driven by continued projected budget deficits in the coming years, would push the debt burden beyond previous highs reached … Read more
Attainable tax adjustments have been mentioned by each the earlier authorities and the present one, and in the previous couple of months there has additionally been a buzz in the neighborhood over whether or not and which taxes may finally be raised. Initially, there was quite a lot of discuss how we may look ahead … Read more