Pakistan introduces controlled foreign company (CFC) regime
KARACHI: Finance Bill 2018 has proposed measure as part of the overall scheme to bring into tax ambit the income earned through offshore entities owned by Pakistani residents. The income…
Finance Bill 2018 strengthens FBR’s capital gains tax claims on K-Electric’s sale
KARACHI: The Finance Bill 2018 has proposed a fundamental change in the concept of Pakistan source income wherein any gain from disposal made outside Pakistan, of an asset located in…
AFU Quetta foils mobile phone smuggling bid
KARACHI: The Customs staff at Quetta Airport foiled an attempt to smuggle mobile phones into the country and arrested one person coming from Dubai. According to details, information was received…
Customs values of ginger and garlic revised
KARACHI: Director Customs Valuation Iqbal Muneeb has revised the customs values of ginger and garlic vide Valuation Ruling No. 1299/2018. The customs values of ginger and garlic were earlier determined…
Petition seeking return of bid money: Customs given time till May 14
KARACHI: The hearing of a petition seeking refund of 25per cent bid money was put of till May 14 by a division bench of High Court of Sindh (SHC) comprising…
SHC disposes petitions against enhancement of value
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Agha Faisal on Monday disposed of two identical petitions challenging the enhancement of…
SHC orders release of Hino dumper truck
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Agha Faisal on Monday ordered release of a Hino Dumper truck of 2004 model.…
Protection to Regulatory Duty in federal budget illegal
KARACHI: Noted lawyer, Haider Shaikh advocate has termed the protection given to Regulatory Duty (RD) given in the federal budget as illegal . Reacting to the levy of custom duty,…