Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Investigation Committee, formed by the Federal Board of Revenue on the recommendations of Federal Tax Ombudsman (FTO) to investigate clearance of older vehicles misusing the interpretation-of the provisions…
ISLAMABAD: The Federal Board of Revenue (FBR) has taken stern action against 94 officials of BS-17&18 by stopping performance allowance for not submitting their asset declaration, which is mandatory for…
KARACHI: The Finance Bill 2014 has proposed significant amendments in customs duty/tax rates in order to provide relief to the importers and also rationalize the tariff measures. The following are…
KARACHI: In budget 2014/2015, it is proposed that federal excise duty (FED) will not be applicable on telecom sector if provincial sales tax (PST) payable to the tax machinery however,…
KARACHI: The Finance Bill 2014 has introduced a new sub-section for fixing sales tax rates on cellular/smart phones under ninth schedule which is ranging from Rs 150 to 500 per/set…
KARACHI: In budget 2014/2015, it introduced reduce rate of sales tax of five percent on goods under eighth schedule with prescribed conditions and limitations. The description of such goods is…
KARACHI: The Finance Bill 2014 has proposed to withdraw the requirement for return filing of the non-resident persons who are registered members of the trade bodies, business associations, Pakistan engineering…
KARACHI: The Finance Bill 2014 has proposed to insert a new taxation scheme of a higher corporate tax by company in order to charge 17 percent from accounting income having…
KARACHI: The minimum tax has been reduced for diversified segments of the economies as the tax rate varies on amount of different turnovers however; the minimum value is at 0.2…
KARACHI: The Finance Bill 2014 has proposed to withdraw all exemptions which are being given to the non-profit organizations, trusts or welfare institutions and it is mentioned that organizations should…
KARACHI: The Finance Bill 2014 has revised the income tax on capital gain on disposal of securities as it enhanced the holding period to 24 months from 12 months for…
KARACHI: The Finance Bill 2014 has proposed justified amendments to the provision of taxation of bonus shares where the amount of bonus declared by a company would be treated as…