Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Tax Ombudsman Asif Mehmood Jah has directed FBR to enforce effective monitoring and enforcement mechanism plugging all loopholes in point of sale regime. FTO’s recommendations were made while conducting…
KARACHI: Pakistan Customs has launched a crackdown against importers of iron & steel re-meltable scrap, iron & steel re-rollable scrap, iron & steel bundle scrap for wrongly availing the exemption…
KARACHI: Federal Board of Revenue (FBR) has notified that Syed Muhammad Tariq Huda (BS-21) is removed from the office of Member (Customs Operations), FBR, Islamabad; and is posted as Member…
KARACHI: ABHI, a Pakistan-based fintech and Unveel.io, a UAE-based API-Widget are combining their expertise to offer the facility of Earned Wage Access to ride-hailing and delivery drivers in Pakistan and…
Lahore, Pakistan: Mastercard and MCB Bank have entered a strategic partnership to boost financial inclusion in Pakistan and empower small businesses with Simplify Commerce, an all-in-one e-commerce technology solution. The…
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Insurance Rules, 2017 devising admissibility requirements of Right of Use Assets. Under International Financial Reporting Standard…
KARACHI: Pakistan Customs finds a novel way to render the land mark judgment of High Court of Sindh commonly known as Danish Jahangiri case. The department got the law amended…
ISLAMABAD: To promote implementation of sound principles of risk management in credit and suretyship businesses of insurance companies, Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the…
In June, remittances rose to $2.76 billion, increasing by 18.4 percent on m/m basis and 1.7 percent on y/y basis. In June, remittances were mainly sourced from Saudi Arabia ($666…
KARACHI: Abdul Samad, employee of a shipping agent firm M/s Rapid Shipping & Cargo, accused of providing doubtful Bill of Lading was admitted to bail by Special Court for Custom,…
KARACHI: Federal Tax Ombudsman (FTO) Asif Mehmood Jah while disposing of a complaint related to non-finalization of provisional assessment within the prescribed time under section 81 of the customs Act,…
KARACHI: Tax Ombudsman Asif Mehmood Jah while disposing of a complaint relating to non-issuance of refund has directed FBR to settle the long pending refund claim and grant compensation for…
KARACHI: The Special Custom Appellate Tribunal (SCAT) dismissed an appeal filed by Agriauto Stamping Private Limited against Order in Original passed by Coector Adjudication II, Karachi. According to respondent Directorate…
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), to encourage participation of insurance companies in the Exchange Traded Fund (ETF) market, has allowed insurance companies to invest in open-ended…
Karachi: As the torrential rainfall continued to batter the city during Eid days, different electric-shock-related incidents were reported in different parts of the city on 11 and 12 July 2022.…
The total liquid foreign reserves held by the country stood at US$ 15,610.5 million as of 07-Jul-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
KARACHI: Directorate of Post Clearance Audit (PCA) has recovered Rs20 million from two importers including M/s A.H Garments. On the directives of Director General Seema Raza, Director Khalil Yousafani and…
KARACHI: Tax Ombudsman Asif Mehmood Jah while disposing of a complaint relating to non-issuance of refund has directed FBR to settle the long pending refund claim and grant compensation for…
KARACHI: In terms of TEUs (20ft box), Pakistan’s overall import declined 5.5 per cent to 1.37 million TEUs in FY22 as compared with 1.45 million TEUs last fiscal year. However,…
KARACHI: MCC Appraisement West has submitted Interim Challan against the accused involved in M/s Multan Institute of Kidney Diseases (MIKD) scam, and sought more time from the Court to continue…