"It takes a little time to apply, but the exemptions
reduce your tax bill by hundreds of dollars," Pappas said.
Soon after the announcement of budget and coming into power, PTI through two finance bills reversed some of the exemptions
The International Monetary Fund (IMF) had already expressed concerns over the massive tax exemptions
given to the various sectors.
Most of these tax exemptions
have been given in the past but their full cost has been reflected in the Economic Survey for fiscal year 2018-19 which the government launched on Monday.
This broad grant of homestead exemptions
is limited by the next subsection, which states that "[n]ot more than one exemption
shall be allowed any individual or family unit or with respect to any residential unit." Art.
The functions of exemptions
assumed by the public authorities and those actually implemented enable us to specify various types of exemptions
(Nykiel, 2002, p.
Other instances included 20-year tax exemption
for the Khalifa coastal refinery, 10-year tax exemption
for all industrial undertakings in the Larkana industrial estate, 10-year tax holiday for all industrial concerns in Gwadar, 10-year exemption
for all industrial units in special economic zones, lifetime exemption
for power companies, lifetime exemption
for a coal mining project in Sindh supplying coal to a power project and five-year exemption
for LNG terminal operators and owners.
Moreover, an amount of Rs27.6 billion was lost on account of exemptions
on products that are protected under the fifth schedule of the Sales Tax Act.
'Pero teka muna bawasan natin ang 143 exemptions
. Kaya nga tayo di maka-take off parang ang balloon, ang daming butas.
* Administrative exemption
: Although they don't have a statutory B2B exemption
, New York and Texas have taken the position through administrative advisories or actions that holders may be able to claim B2B exemptions
Pakistani industrialists, trade and business community have been perturbed over exemptions
given to Chinese investors and have expressed their concerns that it would harm local industry.