Finance Act


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Finance Act

Annual legislation in the United Kingdom making changes to the tax structure. The Finance Act may raise or lower taxes or provide tax incentives for various reasons, depending on the government's financial needs. The Finance Act is passed as part of the budget process each year.
References in periodicals archive ?
The SHC made the Supreme Court's judgment the base for declaring the amendment to the Customs Act 1969 through the Finance Act 2017 unconstitutional.
In a move targeted at enhancing revenue collections and enforcing compliance, the concept of withholding value added tax (WHVAT) was reintroduced via the Finance Act 2014.
The issue raised in these petitions is the vires of an amendment made by the Finance Act, 2017 in section 18(3) of the Customs Act, 1969, in light of the seminal judgment of the Supreme Court in Mustafa Impex and others vs Government of Pakistan and others PLD 2016 SC 808 (Mustafa Impex).
Summary: New Delhi [India], Feb 1 (ANI): Amendments have been made in Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018, the Ministry of Finance said in a notification on Thursday.
TAP) -- The regional bureau of the Popular Front (PF) in Gafsa on Sunday organised a peaceful march in protest against the surging prices and the latest increases that affected several consumer products, demanding the cancellation of the implementation of the Finance Act for 2018.
At least one person has died since Sunday, when protests against an unpopular new Finance Act, which saw price hikes and VAT increases imposed from January 1, first broke out in the capital, Tunis, and across the country, CNN reported.
LAHORE -- The Lahore High Court has dismissed petitions challenging imposition of super tax under section 4(b) of the Income tax Ordinance 2001 inserted through Finance Act 2015.
The petitioner said the recent changes brought in the Federal Excise Act 2005 and implemented in the Finance Act 2017 resulted in reduction in prices of brands instead of making them expensive.
The central government had banned cash transactions of Rs200,000 or more from April 1, 2017, through the Finance Act 2017.
Section 10(38) of the Income-tax Act, 1961 (the Act), prior to its amendment by Finance Act, 2017, provided that the income arising by way of a transfer of long term capital asset, being equity share in a company, shall be exempt from tax if such transfer is undertaken after 1st October, 2004 and chargeable to Securities Transaction Tax (STT) under Chapter VII of the Finance (No.
6%), while remaining below the rate of increase provided for in the Finance Act 2016, i.
ISLAMABAD -- The Finance Minister Wednesday directed the Federal Board of Revenue (FBR) to engage with the provinces to resolve tax issues within a week so that, if required the amendment made through Finance Act 2016 may then be reconsidered.

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