1. Provisional figures: over Rs 14 billion Super Tax collected in TY15
April 27,
2016
The Federal Board of Revenue
(FBR) has provisionally collected over Rs 14 billion from Super Tax imposed on
rich individuals, Association of Persons (AoPs) and companies earning income
above Rs 500 million in Tax Year 2015. Sources told Business Recorder here on Tuesday that so far collection of
Super Tax has amounted to over Rs 14 billion. The government had imposed Super
Tax at the rate of 4 percent of income of banking companies and 3 percent on
other categories for rehabilitation of temporarily displaced persons through
Finance Act 2015.
Few units challenged the levy in
High Court. However, most of the big organisations like multinational companies
and banks have already paid the Super Tax. The Board would also recover the
levy from other units liable to pay the Super Tax. Through the Finance Act,
2015 a new section 4B was introduced in Income Tax Ordinance according to which
Super Tax was imposed for Tax Year 2015 on the income of individuals,
association of persons and companies who are earning Rs 500 million or above in
Tax Year 2015. For banking companies Super Tax has been imposed irrespective of
the quantum of income. Finance Minister Ishaq Dar had said that Super Tax would
be extended for another year. Addressing a pre-budget seminar, the Finance
Minister said, "Super Tax will continue for another year to eradicate
terrorism."
2. Tax collection banks asked to facilitate special clearing on April 29
April 27,
2016
State Bank of Pakistan (SBP) on
Tuesday asked banks to open branches concerned till such time that is necessary
to facilitate special clearing for government transactions for facilitation of
tax collection on April 29 (Friday). According to SBP circular, in order to
facilitate the collection of Government duty / taxes, NIFT will provide special
clearing facility on the advice of State Bank of Pakistan on April 29, 2016
(Friday) at 3:00 pm. Banks are, therefore, advised to keep their branches
concerned open on April 29, 2016 (Friday) till such time that is necessary to
facilitate special clearing for Government transactions.
3. Customs installs scanner at Torkham
April 27,
2016
Pakistan Customs Tuesday
operationalized modern scanner machine at Torkham for scanning the baggage of
Afghans crossing Pak-Afghan border for curbing the smuggling of arms, contraband
drugs, currencies and goods. Collector Customs Peshawar, Qurban Ali Khan
inaugurated the scanning machine installed at Passenger Facilitation Centre at
Torkham, Khyber Agency Tuesday.
Speaking on the occasion, the
Collector Customs Peshawar, Qurban Ali Khan said installation of scanner
machine for checking of travellers is part of efforts of Pakistan government to
comply with international obligations of improving border management. Pakistan
Customs, he continued, is striving for fully computerisation of its operations
and use of modern technology in checking of goods. Presently about 90 percent
of trade from Pakistan including import and export has been computerised for
which the WeBOC (Web Based Online Customs) has been introduced and installed at
all important ports.
Collector Customs also informed
the participants of the ceremony that improvement in checking system at Torkham
has been taken in the wake of directions of Supreme Court of Pakistan which
instructed for installation of modern system for checking of travellers and
their luggage. He said that the machine has been installed on the orders of the
Supreme Court, which had sent a special commission to inspect arrangements of
checking at Torkham border last month. He said thousands of people cross
Pak-Afghan border on daily basis and there was quite difficult to check all of
them properly.
He expressed the hope that with
the support and cooperation of political authorities of Khyber Agency,
officials of Khyber Rifles, Frontier Corps and National Logistic Cell (NLC),
Pakistan Custom would be able to hold proper checking of all the travellers.
Referring to the concerns of
people from across the border, over increased checking and making border
passage mandatory through valid travel documents; Qurban Ali said all these
measures are taken for improving border management and were not aimed at
creating difficulties for travellers. He said scanner machines will help in
curbing smuggling of arms, contraband drugs, currencies and trade goods. He said
for checking of female travellers, Pakistan Customs has appointed five female
searchers who will now properly check women especially those who are wearing
full veil.
Speaking on the occasion, Deputy
Controller NLC, Faisal Maqsood informed participants that establishment of
Passenger Facilitation Centre is party of first phase of border improvement
project at Torkham. He said NLC is working on construction of a modern Custom
Complex which will have all the facilities including scanning of fully loaded
trucks.
Assistant Political Agent Khyber
Rahimullah Mehsud said government officials are in touch with concerned
authorities in Afghanistan for improvement of border checking at Torkham. He
said government is serious in implementation of travel document condition from
May 1, 2016 and in this connection no person would be allowed to enter Pakistan
without having passport and visa. He also agreed with a questioner that
improved checking will result in better security and it was a long standing
demand of security forces of improving checking at border posts.
4. Balochistan govt to introduce tax amnesty in Gwadar
April 27, 2016
The Balochistan government has
planned to introduce tax and duty amnesty scheme for national and foreign
investors to attract massive investment in port town of Gwadar.
Provincial Minister for Planning
and Development, Dr. Hamid Khan Achakzai said this while addressing a press
conference along with Additional Chief Secretary (Planning and Development),
Nasib Ullah Bazai, here on Tuesday.
He said that work on several
uplift projects pertaining China-Pakistan Economic Corridor (CPEC) in
Balochistan was underway.
“Work on Zhob-Mughal Kot N-50 and
Qila Saifullah Road N-70, Gwadar- Hoshab and Hoshab-Sorab N-85 was under way,”
he said, adding that those road projects would be completed before and by 2018,
respectively.
He said that work had been
started on Rs. 14.06 billion project of East Bay Express from Gwadar to Karachi
along coast, adding that Rs. 4.70 billion were allocated inPSDP 2015-16.
He said that a sum of Rs. 0.138
billion were allocated for road projects including Gwadar-Karachi,
Gwadar-Basima and Basima- Jacobabad-Khuzdar, adding that 1.01 billion were
being released in this regard.
He said the balochistan
government had achieved 95 percent target in implementation of 2250 uplift
scheme of Provincial public Sector Development Program 2015-16 and 140
development projects of Federal PSDP 2015-16 and said that departmental action
would be taken against official if PSDP funs were lapsed.
He said that Rs. 54.5 billion
Provincial PSDP 2015-16 had 2250 schemes including 940 ongoing and 1310 new
ones. He said that Rs. 19.5 billion were allocated for ongoing schemes and Rs.
31.57 billion for new projects. “About 95 percent funds for ongoing schemes had
been released within seven months,” he said, adding that 97 percent PC-1 of new
lift schemes had been approved and 95 percent of funds allocated for them have
been authorized,’ he said.
He said that departmental action
would be taken against official of funds of PSDP were lapsed.
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