The Calabash Newspaper’s Post

During the fiscal year 2023-24, salaried workers in Pakistan contributed a record Rs 368 billion in income tax, which is 232% more than the combined contributions of exporters and retailers. The government anticipates that this amount will rise further in the next fiscal year due to increases in tax rates. In contrast, exporters and retailers paid substantially lower taxes. 😡 😡 😡 Salaried individuals in Pakistan face a disproportionately heavy tax burden compared to their counterparts in India. A PBC analysis reveals that Pakistani taxpayers have significantly less disposable income after taxes compared to Indians with similar earnings. This significant disparity highlights the urgent need for comprehensive tax reform to ease the financial pressure on Pakistan’s salaried class. 😡 😡 😡

#Pakistan - Two Worlds, Two Rules! The Federal Board of Revenue (#FBR) has yet to collect any revenue from the 85,000 traders registered under the #Tajir #Dost #Scheme, despite significant projections. Meanwhile, the government continues to impose unreasonable #taxation on the #salariedclass, exacerbating financial pressures on those who already contribute consistently. It's time for a more balanced and fair tax policy that addresses these disparities. #TaxPolicy #EconomicFairness #FBR #SalariedClass #Taxation #PakistanEconomy

Within the last eight days SOLVA matured two bond issues (KASE: MFOKb8; MFOKb9) for 40 million USD, and KZT 7 billion (AIX: MFOK.0324; KASE: MFOKe1). Since 2022, SOLVA has shown stability and integrity in repaying its obligations, successfully repaying 10 bond issues on the local Kazakhstani market including four bond issues totaling KZT 16.4 billion and six bond issues totaling US$76.9 million. Coupon payments on the matured bonds amounted to KZT 5.6 billion and 7.8 million US dollars respectively. https://lnkd.in/dbdE4qrr https://lnkd.in/de8__JUA

Dear Clients, 📣 We would like to inform you about an important change in the commission fee structure for transactions with securities on the Republican Stock Exchange "Toshkent", which was previously announced to come into effect on March 14th, 2024. 📌 On the listing market (Stock Market) in the Main Board section, the current commission rate of 0.16% will be increased to 0.31% for transactions up to 10 billion UZS and to 0.21% for transactions above this amount. As a result, the total commission for transactions of listed companies will now be 1.15%, inclusive of all other charges according to the standard rate. ❗️ As for the Over-the-Counter (OTC) securities (Stock Market) in the Main Board section, the current exchange commission rate of 0.3% will be increased to 0.41% for transactions up to 10 billion UZS and to 0.31% for transactions exceeding this mark. Consequently, the total commission for transactions of OTC securities will be 1.61%, inclusive of all other charges according to the standard rate. To learn about other changes, please visit the link https://lnkd.in/daDEYq8P. It is important to note that the commission fees of Portfolio Investments will remain unchanged. ⚡️ In addition, our company introduces a minimum commission of 5,000 soums for each transaction. This decision was dictated by a large number of transactions, the volume of which does not exceed 1 soum per transaction and takes a long time to process. For example, for the purchase of a share worth 1.0 soum, which previously cost 0.01 soum commission, a minimum commission of 5,000.0 soum will be charged. This change will take effect 10 calendar days from the date of this publication on March 25, 2024. #Uzbekistan #investments #piamg #fees #commission

The planned VAT hike next year should be reviewed to accommodate latest market situation

🔊 Interview Alert 📺 SlickChain LTD CEO Elad Barshan had the chance to discuss a significant policy shift on i24NEWS: The Ministry of Finance's intent to eliminate the up to $75 value import tax exemption for personal imports. This move is a direct response to the rising government deficit, which is projected to exceed 8% according to various estimates, prompting the Ministry to explore new ways to generate revenue. However, this exemption serves as a powerful tool to combat rising market costs. The Ministry claims that removing it could add 1 billion NIS to the government treasury. Yet, this figure is based on flawed assumptions: 1️⃣ Adding 17% VAT (Israel's current rate) diminishes the product's attractiveness. 2️⃣ The Ministry has not accounted for the additional clearance costs that are currently avoided. The potential damage of this policy far outweighs any perceived benefit. It's crucial to consider these factors as we evaluate the broader impact on consumers and the market. Thanks to I24News for providing a platform to highlight these critical issues. https://lnkd.in/e_WJhzK9 #InternationalTrade #TaxPolicy #PersonalImports #Economy #I24News #GlobalTrade #MarketImpact

📢 Important Update for Retailers! 📢 Federal Board of Revenue has announced significant changes to the Tajir Dost Scheme. As per media reports, the new approach aligns with an FBR commitment to the International Monetary Fund (IMF) to generate Rs 50 billion in revenue through the Tajir Dost Scheme by the end of the fiscal year. #Tajirdostscheme #FBR #TDS #Taxupdate #Pakistaniretailers

Following Re Dillon, the NI High Court has disapplied various provisions of the Illegal Migration Act 2023 as incompatible with the Windsor Framework. Para 175: “Read together, the provisions of article 4 of the WA and section 7A of the Withdrawal Act are juridically aligned to the approach of the supremacy of EU law under the 1972 Act and Factortame. […] This outcome does not occur at the whim of the courts but represents the will of Parliament as articulated in the Withdrawal Act.” #Brexit

Publication of Vol. 16 Issue 2 of AIS Transactions on Human-Computer Interaction (THCI) https://lnkd.in/gTiDdmYf THCI is ranked “A” in the Australian Business Deans Council (ABDC) Journal Quality List https://lnkd.in/gbv9XgTV THCI is ranked “B” in the VHB Journal Quality List https://lnkd.in/gWAHiJDW Hsieh, P. H. & Hu, T. C. (2024). Exploring differences in the decision-making process between online auction sellers and barter site exchangers. AIS Transactions on Human-Computer Interaction, 16(2), pp. 177-215. DOI: 10.17705/1thci.00204 Available at: https://lnkd.in/gxu7JYzw

📢 FBR Withdraws Draft SRO 2028(1)/2024 In light of public misunderstanding, the Federal Board of Revenue (FBR) has withdrawn Draft SRO 2028(1)/2024, issued on December 6, 2024. The draft amendment aimed to define "commercial quantity" in the Baggage Rules, 2006, setting a limit of USD 1200 for goods brought in baggage for trading or pecuniary gain. Clarifications: ✅ The USD 1200 limit does NOT apply to items for personal use or gifts by passengers. ✅ Customs will NOT confiscate bona fide personal baggage exceeding this limit. ✅ The amendment was intended to curb misuse of baggage facilities by commercial carriers—not to restrict personal or gift items. Due to widespread misinterpretation, particularly on social media, the FBR has decided to withdraw the draft to prevent further confusion. #FBR #BaggageRules #PolicyUpdate #Customs #TradePolicy #Clarification #Pakistan #ITR #ITO