Pakistan Customs, Tax, Shipping & Business News Resource
In Pakistan’s growing and volatile startup marketplace, Muhammad Burhan Mirza, IT Tycoon, investor and mentor widely recognized as one of the most influential figures in Pakistan’s IT landscape has earned…
By: Farooq Mustafa Chaudhry Modernizing payment systems could address commuter concerns while improving revenue efficiency. The Lyari Expressway toll structure has undergone significant adjustments in recent months, with rates increasing…
ISLAMABAD: Finance Minister Ishaq Dar presented the federal budget for the fiscal year 2017-18 today with an estimated outlay of Rs 4.8 trillion. The national budget, the last by PML-N…
ISLAMABAD: The federal government has laid a special emphasis on development of textile sector amd has allocated Rs 217.5 million for Textile Industry Division under the Public Sector Development Programme…
ISLAMABAD: Pakistan was on the brink of technical default on its financial commitments with forex reserves at a historic low covering only two weeks’ worth of imports when PML-N government…
KARACHI: Government of Pakistan has announced enhancement in limit for importing raw material by manufacturers without collection of income tax at the import stage. Presently, the quantitative limit for import…
KARACHI: In order to arrest the declining revenue trends, the federal government has proposed to revise and raise incidence of sales tax on various imports and sectors. Steel sector is…
KARACHI: Government of Pakistan through Federal Budget 2017-18 has reduced sales tax on fertilizers to replce subsidy. Due to complications in payment of subsidy to fertilizers manufacturers and importers, the…
KARACHI: Government of Pakistan through Federal Budget 2016-17 has announced several relief measures for local industry along with various revenue measures and tariff rationalization. The relief measures include reduction of…
KARACHI: Government of Pakistan has decided to reduce taxe on mobile phone service usage as a reduction of withholding tax and Federal Excise Duty on telecom services is proposed through…
KARACHI: Government of Pakistan has announced a tax holiday for tech-start-up companies and software houses for a period of three years. Proposed budget for 2017-18 said that all IT exports…
KARACHI: Government of Pakistan has reduced tax on imported smartphones. According to details, one category — for which import duty was Rs. 1,000 — the rate of duty has been…
KARACHI: The government has given a relief to branchless banking sector through exemption of withholding tax on cash withdrawal for agents associated with branchless banking companies. Accordingly, agents could save…
KARACHI: The government has decided to continue the super tax levied for another year, it was imposed in 2015-16 for the purpose of rehabilitating temporary displaced persons (TDP) affected by…
KARACHI: The federal budget announcement for fiscal year 2017-18 came rather disappointing for the stock market as finance ministry igonred all its recommendations and instead raised the incidence of tax…
KARACHI: The Finance Bill 2017 has empowered Federal Board of Revenue (FBR) to enter into mutual legal assistance agreements on customs matters with other foreign and international organizations. The Bill…
KARACHI: The Finance Bill 2017 has given unlimited power to the chief collector of annulling, modifying or confirming the order passed by the collector suspending user ID of an importer…
KARACHI: The value of an imported consignment declared in the goods declaration (GD) or the value mentioned on the invoice retrieved from the consignment will be assess able value if…
KARACHI: Finance Minister Ishaq Dar has proposed an ad-hoc increase of 10 percent in salaries of government’s employees in the Federal Budget 2017-18. Unveiling the federal budget in the National…
KARACHI: Judical Member Inland Revenue Appellate Tribunal Muhammad Javed Zakaria has stayed the recovery of tax demand against M/s PAIR Investment Company Limited. The company’s representative stated that income tax…