Sales tax on LNG/RLNG rationalized
KARACHI: Federal government has proposed reduced rate of sales tax of 12 percent on sale of liquefied natural gas (LNG) and re-gasified liquid natural gas (RLNG) to gas transmission and…
Customs Intelligence Peshawar seizes narcotics
KARACHI: Customs Intelligence Peshawar has recovered narcotics worth millions of rupees from a passenger vehicle near Rashakai Interchange, district Nowshera. Under instructions from Director Intelligence and Investigation (Customs) Peshawar, Dr.…
FED increased on cigarettes
KARACHI: Federal government has proposed significant increase in the rate of Federal Excise Duty on cigarettes. According to the proposal, FED would be Rs4500/thousand cigarettes on locally produced cigarettes if…
Customs duty reduced on 34 tariff lines
KARACHI: The Finance Bill (Amendment) 2018 has proposed reduced rate of customs duty on 34 tariff lines through the proposed Table-C in the Fifth Schedule. 0.3% to 0.6% percent withholding…
Key Takeaways: Revised Finance Bill FY19
KARACHI: The Finance Minister Asad umar stated that Budget deficit for FY18 was set at 6.6% (RS 2.2trn) whereas FY19 projections were set at 7.2% (RS 2.9trn). Hence, immediate measure…
Non-filers allowed to purchase vehicles, property
KARACHI: Federal government through the Finance Bill (Amendment) 2018/2019 has allowed non-filers of income tax returns to purchase immovable properties and motor vehicles. The non-filers were restricted in the budget…
*Key Takeaways: Finance Bill FY19*
1. The Finance Minister stated that Budget deficit for FY18 was set at 6.6% (PKR 2.2trn) whereas FY19 projections were set at 7.2% (PKR 2.9trn). Hence, immediate measure are needed…
NEPRA initiates legal proceedings against KEL on Safety Accident of 8 years boy
ISLAMABAD: NEPRA has initiated legal proceedings against K-Electric Limited (KEL) for failure to maintain its distribution network which caused safety accident of eight year old boy, Muhammad Umer. Muhammad Umar…