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Mr Gaolathe said there was need for citizens to co-invest with foreign companies since multinational companies required a large number of skilled as well as unskilled employees to operate their activities, thus it provided employment opportunities to the people of host country, as a result economic standard of society would improve.
'Strict penalties should be imposed at multinational companies for tax evasion,' he said.
He also said that the multinational companies' offices and factories will be locked under the protest until the demands are met.
However, the traders, importers and multinational companies dealing in fast moving consumer goods approached the Commerce Division, seeking more time for compliance with the new conditions.
A group of multinational companies had started offshore drilling at a distance of 230 kilometers from Karachi for exploration of oil and gas on Jan 14.
According to sources, the FBR has made it mandatory for multinational companies and enterprise groups with turnover crossing Rs100 million to submit their master files and related records.
As per sources, the tax regulator has made it binding for multinational companies and enterprise groups with turnover surpassing Rs100 million to share their master files and related records.
They set up branches in China, and after 10 years, there has been a lot of transfer of people from those multinational companies to the local companies.
MANILA, Philippines The government has scrapped the preferential tax rate for employees of reqional headquarters (RHQs) and regional operating headquarters (ROHQs) of multinational companies despite the strong uproar from foreign chambers of commerce.In a tax advisory, Internal Revenue commissioner Caesar Dulay said Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law signed by President Duterte last Dec.
He said many multinational companies were successfully operating in Karachi due to its strategic and economic importance.
MULTAN -- Bahauddin Zakariya University will organize 'Job Fair' to facilitate national and multinational companies as well as students.

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