Karachi: The Overseas Investors Chamber of Commerce and Industry (OICCI) has voiced concerns over the non-implementation of advance income tax (AIT) on non-filer retailers. The chamber attributes the issue to resistance from a significant portion of the retail sector, which is unwilling to comply with the tax system, leading to additional financial burdens on distributors and brand owner companies.
In a letter to Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial, OICCI Chief Executive and Secretary General M Abdul Aleem urged the FBR and government to engage with stakeholders to alleviate concerns and enforce compliance with the law.
The OICCI supports expanding the tax base to include all economic sectors, including retail, wholesale trade, agriculture, services, and real estate, in order to boost tax revenue. The Finance Act reflects the government’s intent to address these sectors, and the OICCI is looking for tangible actions to meet the projected Rs13 trillion revenue target for 2024-25.
Acer and Air Link Announce Strategic Partnership for E-10 Gadgets in Pakistan
Acer Gadget Inc has formed a strategic partnership with Air Link Communication Ltd (Air Link) to launch Acer Gadgets e-10 laptops, tablets, and all-in-one devices in Pakistan. According to a stock filing on Tuesday, Air Link has secured distribution rights and entered into an exclusive assembling agreement with Acer Gadget’s manufacturing partner, Shanghai Sixunited Intelligent Technology Co Ltd, to assemble these products at Air Link’s Lahore facility.
