Government to set tax revenue collection target of Rs7.25trn for FY23
KARACHI: Government is likely to set tax revenue collection target of Rs7.25trn for FY23 (9.2% of GDP), which is up 19% from the revised target of Rs6.1trn (9% of GDP)…
Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Government is likely to set tax revenue collection target of Rs7.25trn for FY23 (9.2% of GDP), which is up 19% from the revised target of Rs6.1trn (9% of GDP)…
KARACHI: Government is expected to announce Federal Budget FY23 on June 10, 2022. Pakistan is eyeing revival of an IMF program and it is likely that the upcoming budget will…
KARACHI: Government has imposed a ban on the import of 38 non-essential luxury items under an “emergency economic plan”. Government will practice austerity and financially stronger people must lead in…
Federal government has announced three holidays in Islamabad for the Organization of Islamic Cooperation (OIC) Foreign Ministers Conference to be held in Pakistan from March 22 to 24, 2022. Imran…
Karachi: foodpanda, the leading food delivery platform and e-commerce company in the country, recently signed a Memorandum of Understanding with Government of Gilgit Baltistan to bring forth economic empowerment in…
UPaisa is leveraging its innovative digital financial ecosystem to facilitate hassle-free payments to government departments that earlier took lots of time and effort. The only Pakistani mobile financial service that…
Textile Exporters are annoyed and distressed in the wake of highest ever liquidity crunch being faced due to imposition of 17 percent GST whose refunds are excessively delayed by the…
KARACHI: To augment efforts towards simplification of the withholding tax regime, the government has deleted several withholding tax provisions including collection collection of advance tax on education related expenses remitted…
ISLAMABAD: The Federal Government has notified the Financial Institutions (Secured Transactions Registry – STR) Rules, 2019, enabling the establishment of a secured transactions registry for entities other than companies. The…
SYDNEY: Moody’s Investors Service has reaffirmed Auckland Council’s Aa2 credit rating on a stable outlook. Auckland Council s Group Chief Financial Officer Matthew Walker says that the rating reaffirms that…
KARACHI: The new property valuation mechanism introduced by the federal government has totally halted property registration activities all over Pakistan causing frustration among applicants and huge loses of revenue to…
KARACHI: The Federal Board of Revenue (FBR) has been authorized to notify the valuations of the properties throughout the country including Karachi, Lahore and Islamabad, said Ishaq Dar, Federal Finance…
KARACHI: The Karachi Cotton Association (KCA) has expressed its deep concern over the levy of 3.0 percent customs duty, 1.0 percent additional duty and 5.0 percent sales tax on import…
KARACHI: The government has further increased the custom duty on cotton import from 2 per cent to 3 per cent, while the industry has to pay a total 4 per…
KARACHI: The Federal Board of Revenue (FBR’s) likely initiative to introduce tax stamps on cigarette packs and other goods would not only help tightening noose around the unbridled non-tax paid…
KARACHI: The meeting of Finance Minister Ishaq Dar and Advisor to the Prime Minister Haroon Akhtar with 13-members committee of the builders and developers has been postponed till tomorrow (Thursday)…
KARACHI: Cotton prices eased on Thursday in line with correction in New York Cotton Exchange, brokers said. Prices after crossing Rs7,000/maund, early this week, eased by around Rs200 and the…
KARACHI: Pakistan is wasting millions of dollar in the import of Edible oil and its seeds by ignoring this sector in the budget 2016-17. The consumptions of Edible oil are…
KARACHI: Despite an effort of the government to enhance exports in 2015-16, the country’s goods export declined by 12.11 per cent to $20.802 billion in (July-June) 2015-16 from $23.667 billion…
KARACHI: The Association of Builders and Developers of Pakistan (ABAD) and the real estate sector have outrightly rejected amendment in the Income Tax Ordinance 2001 (ITO) and addition of a…