Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Customs Appraisement has proposed that the customs duty on steel sheets/rolls under PCT chapter 72 should be rationalized to avoid chances of misdeclaration and duty evasion. It may…
KARACHI: The Customs Intelligence and Investigation (I&I) in two separate raids on Monday has recovered huge quantity of foreign-origin perfumes and para-shoot cloth worth Rs4.5 million approximately, which was being…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the government that tax judicial system should be separated from collection machinery and should work under the…
KARACHI: The Model Customs Collectorate of Appraisement-West has stopped the clearance of over 100 vehicles including 50 concrete mixers, which were imported by the same person already under custody for…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed amendments in the sales tax laws to penalize tax officials found involved in mal-administration. In its budget…
KARACHI: The Federal Board of Revenue (FBR) has played a practical joke with the Grade-16 officers of Preventive Collectorate as 37 BS-16 officers have been promoted to BS-16. According to…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed an idea to slash income tax on rental income to 10 percent as final settlement of tax…
KARACHI: The Model Customs Collectorate of Appraisement-East has hold the clearance of foreign liquor imported by companies for their foreign employees and a reference has been sent to Federal Board…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the tax machinery to enhance turnover limit of cottage industry to Rs 10 million from existing rate…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed to reduce general sales tax (GST) to a single digit from existing rate of 17 percent which…
KARACHI: The Model Customs Collectorate of Appraisement-West has lodged First Information Report (FIR) against several importers and clearing agents while one clearing agent has also been arrested for committing fraud…
KARACHI: The Customs Intelligence Unit (CIU) of MCC Port Qasim has detected revenue leakage to the tune of Rs7.0 million through misuse of SRO No. 1125(I)/2011. According to details, a…
KARACHI: The Large Taxpayers Unit (LTU) has proposed amendment to Income Tax Ordinance, 2001 that a taxpayer could not claim any deduction on account of unrealized foreign exchange loss due…
KARACHI: The Customs Intelligence Unit (CIU) of MCC Port Qasim has detected 11 cases of mis-declaration of description/weight, which would result in additional revenue on account of detection to the…
KARACHI: The Large Taxpayers Unit (LTU) Karachi has proposed amendments to Income Tax Ordinance, 2001 to bring all types of liabilities under presumptive tax regime (PTR). The unit in its…
KARACHI: The Large Taxpayers Unit (LTU) has proposed the government to establish panel of experts for assessing the fair market value of properties in the real sector for identifying potential…
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed the concept of carry forward of unabsorbed tax credit for newly established industrial undertaking. At present under…
KARACHI: The Preventive Service Officers Association, one of three Associations active at Customs House, is having their elections to elect the officer bearers and body on May 15, 2014. Two…
KARACHI: The business community has advocated the government to reduce general sales tax (GST) of heavily taxed mobile telecommunication industry to 16 percent from current rate of 19.5 percent. Another…
KARACHI: Pakistan Customs has collected customs duty to the tune of Rs162.58 billion against the dutiable imports of Rs1.478 trillion during the ten-month period ended April 30, 2014 translating into…