Tag: Revenue

KARACHI: The corporate sector in Pakistan is paying the highest rate of income tax in comparison to its counterparts in the region. Corporations in Pakistan are paying income tax at the rate of 35 percent while the corporate sectors in regional countries are taxed by between 20 to 33.99 percent in the category.
Despite the imposition of such a relatively high corporate tax rate in Pakistan, the country's tax-to-GDP ratio is one of the lowest in the world and is one of the reasons

ISLAMABAD - The government has decided to start implementing revenue and power sector reforms by doing away with all exemptions under the general sales tax and subsidies on power tariff and petroleum products from February 1.
Official sources said the political leadership made the decision after the economic team informed it in clear terms that the national exchequer was left with no fiscal space to continue bearing Rs 20 billion per month in power tariff differential subsidy and

KARACHI - The Pakistan International Airlines (PIA) board approved the corporate budget for the year 2011 with a revenue target of Rs 133 billion which is 22 percent higher than the expected actual revenues of 2010.
The board emphasised that the management should make an all out effort to meet the assigned target and appreciated the efforts of the management, which despite volcanic eruptions, snow storms in Europe and slowdown of economic situation all over the world, enabled

ISLAMABAD: Government has sustained a loss of revenue amounting to Rs 45 billion during the last six years due to tax evasion, smuggling and counterfeiting in the cigarette industry. Resultantly, the failure of the authorities to take concrete steps to curtail these violations has come under the spotlight.
According to a press release issued on Wednesday, industrial data reveals that government had to face a revenue loss of Rs 7.5 billion in the current year, Rs 6.5 billion in