Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Anti-Smuggling Organization (ASO) at Air Freight Unit (AFU) has tightened monitoring of courier parcels and during the process seized large quantity of Boostim (Somatotropin) injections and other goods worth…
Karachi: As part of the PKR 1 billion Hussain Dawood Pledge, Dawood Foundation – the charitable arm of the Dawood Hercules Group – has entered into a strategic partnership with…
KARACHI: The political divide between PTI lead federal government and PPP’s Sindh government is likely to widen further as Prime Minister Imran Khan embarks on two day tour of Sindh…
Karachi: Members of PSX Stockbrokers Association (PSA) and other participants of Capital Market are dismayed over the neglect of the Capital Market by the Federal Government in the budget for…
ISLAMABAD: Pakistan has not received any additional financial benefit from the debt relief provided by the Group of 20 (G-20) nations, Planning Minister Asad Umar said on Monday, but admitted…
ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued a Show Cause Notice to S.M. Food Makers Limited for deceptively copying the trademark/trade dress of various products of Hilal Foods,…
KARACHI: The Federal Board of Revenue (FBR) has notified for all field formations of Pakistan Customs Service (PCS) and Inland Revenue Service (IRS) that no sanctioned or unsanctioned amount of…
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ISLAMABAD: The SECP’s permission to non-bank microfinance companies (NBMFCs) to reschedule the loan portfolio not only helped NBFCs to adjust their portfolio at risk but also resulted in extending relief…
KARACHI: The body of Director General Transit Trade Zahid Khokhar was dispatched via flight PK304 to Lahore for his final rites. A large number of Customs officers and officials were…
KARACHI: More than 5000 cases are being reported daily since a week and as per government,s own estimates the number of case by July will be over million. These are…
KARACHI: The incentive package for construction industry promulgated through a Presidential Ordinance has been incorporated in the Finance Bill, 2020. The President of Pakistan promulgated the Tax Laws (Amendment) Ordinance,…
KARACHI: The Finance Bill 2020 proposes the right of Federal Board of Revenue (FBR) to access or integrate their systems with certain agencies and organizations, will override any restrictive provisions…
KARACHI: The concept of an ‘agreed assessment’ is proposed to be introduced in the Income Tax Ordinance, 2001. Though not defined in the Ordinance, an agreed assessment represents a status…
KARACHI: Certain provisions are being introduced to define the concept of ‘tax profile’ and to prescribe penalties and other negative consequences for taxpayers who fail to file or update their…
KARACHI: An industrial undertaking will not be allowed to claim any expenditure attributable to sales made to such persons who are required to be registered but not registered under the…
KARACHI: A major incentive has been provided in the Federal Budget 2020-21 by prescribing reduced rates for certain imports. A major change has been introduced with respect to rate of…
KARACHI: A specific process has been laid down for the deemed assessment under section 120 of the Income Tax Ordinance, 2001. The Income Tax Ordinance, 2001 by way of section…
KARACHI: It is expected that the consequences and effect of the pandemic will subside in the following months and Pakistan will be again on the trajectory of growth of 3%…
ISLAMABAD: Adviser to the Prime Minister on Finance Dr Hafeez Shaikh has advised the provinces not to make their budgets on the basis of proposed Rs4.963 trillion tax collection target,…