Bahrain and Pakistan Sign a Protocol to Amend the 2005 Tax Treaty

22 February, 2015

On January 7, 2015 Bahrain and Pakistan signed a protocol. This is the first protocol to amend the double tax treaty of 2005. It will enter into force after the exchange of the ratification

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IMF reports on discussions on Pakistan’s economic position

06 February, 2015

The IMF has held meetings with officials from Pakistan to conduct discussions as part of the sixth review under its Extended Fund Facility and has issued a press release reporting on its preliminary findings. A Memorandum of Economic and Financial

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Pakistan: Companies operating in Gwadar Free Zone to get 20-year tax holiday

05 February, 2015

The Pakistan government plans to provide a 20-year tax holiday to companies that want to establish their business in Gwadar Port's Free Zone. The government has also decided to exempt from customs duties, machinery, equipment and other

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Pakistan: Government states withholding tax rate for non-filers on registration of immovable property

02 February, 2015

The government announced on 14 January 2015, through Notification No. 30(I)/2015 that any non-filer (i.e. a taxpayer whose name does not appear on the active taxpayers list issued by the Federal Board of Revenue or who is not a holder of a

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Third Meeting of Second Phase of Negotiations on China-Pakistan Free Trade Area Held in Islamabad

18 January, 2015

The Third Meeting of the Second Phase of negotiations on the China-Pakistan Free Trade Area was successfully held in Islamabad on January 6-8, 2015. The two sides had talks on various topics including the implementation of reduced taxes in the first

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Pakistan: Government Declares Sales Tax Rate From 2015

15 January, 2015

The government of Pakistan issued Notification No. 1152(I)/2014 on 30 December 2014, declaring the sales tax rate to be charged on certain items. The current rate will be effective from 1 January 2015, the sales tax is to be charged at the rate of

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Czech Republic & Pakistan: DTA ratified by Pakistan

10 December, 2014

The Income Tax Treaty between Czech Republic and Pakistan has ratified by Pakistan on 2nd October 2014. The signing draft of this treaty has approved by the Pakistan’s Cabinet on 29th August 2013. Further details of the treaty will be reported

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Pakistan: Planning to raise further tax to 2%

15 July, 2014

The Federal Board of Revenue (FBR) is planning to raise 'further tax' from existing 1 % to 2%  in budget (2014-15) on supplies made to persons who have not obtained sales tax registration numbers (STRNs), doubling the burden of extra sales tax on

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Pakistan: Budget for 2014-2015 has been presented to the parliament

22 June, 2014

The Pakistan Government has presented to parliament the nation's 2014-2015 Budget, which includes proposals aimed increasing tax compliance rates, increasing progressive direct taxes, and lowering the burden of indirect taxes. The 2014 budget set

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Pakistan: Budget 2014/15 introduces GST and excise changes

12 June, 2014

With the Budget 2014/15 Pakistan is introducing a number of minor changes to the Goods & Services Tax (GST) and Excise Duty regimes from July 2014. Following changes will take place: Simplified GST regime introduced for the retail

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Pakistan Warns Banks to Register For FATCA

18 May, 2014

The State Bank of Pakistan has issued advice to financial institutions to ensure that they register with the US IRS in respect of the Foreign Account Tax Compliance Act (FATCA). They have given this advice because the intergovernmental agreement

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Pakistan Needs to Chase Non-Taxpayers

27 April, 2014

Currently Pakistan has one of the world’s lowest ratios of tax to gross domestic product (GDP). The ratio in Pakistan is 9 percent compared to India’s tax to GDP ratio of 16 percent, Indonesia’s ratio of 14 percent, and Malaysia’s 15 percent

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Switzerland – Pakistan DTA Negotiation

24 April, 2014

According to some media reports, Pakistan is looking to revise the double taxation agreement (DTA) with Switzerland. The current double tax agreement between the two countries was signed on 19 July 2005 and entered into force in 2008. No further

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Pakistan: Cabinet approves the DTA Protocol with Austria

22 January, 2014

Pakistan’s Cabinet approved, on 20 January 2014, the Protocol to the DTA signed between Pakistan and Austria. This effectively completes the ratification on the Pakistan

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DTA between Pakistan – Czech Republic 

10 September, 2013

Pakistan’s Cabinet on August 29, 2013, approved the signing of a draft double tax agreement (DTA) with the Czech Republic. A draft agreement was originally initialled on 19 October 2012. No further details of the treaty are currently

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FTA Between Indonesia-Pakistan Enters Into Effect

10 September, 2013

Indonesia and Pakistan signed a Preferential Trade Agreement (PTA) in February 2012. This agreement came into effect from September 1 following the signing of an additional Mutual Recognition Agreement (MRA). The agreement had previously been held

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Afghanistan – Pakistan DTA

10 September, 2013

Afghanistan and Pakistan agreed to launch negotiations towards a double taxation agreement (DTA) at meetings on August 25, 2013. No further details of the negotiations or likely provisions of any future agreement are currently

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Pakistan: Tax law changes enacted in Finance Act 2013

01 August, 2013

Pakistan’s Finance Act 2013 implements the tax changes proposed in the budget for 2013. The changes came into force from 1 July 2013. The Finance Act 2013 includes following tax provisions: Change the rules on the taxation of property income,

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