Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The Appellate Tribunal Inland Revenue (ATIR) Monday asked the Commissioner Inland Revenue (CIR-III) either issue and served CIR (A)’s appellate order to M/s Jawaid Bros Label Industries (Pvt) Ltd…
KARACHI: In order to effectively monitor imports into Pakistan, State Bank of Pakistan (SBP) and Pakistan Customs have successfully launched and implemented Electronic Import From (EIF) Module in WeBOC (Web…
KARACHI: The decision of Large Tax-payer Units Karachi (LTUs-Karachi) of freezing K-Electric’s accounts from August 31 is against the law as an Appellate Tribunal Inland Revenue (Karachi) had already granted…
KARACHI: Federal Tax Ombudsman (FTO) Abdul Rauf Chaudhry has said that the number of FTO offices has successfully been raised to nine by setting up four more offices in numerous…
KARACHI: Senior Vice President Naseem Askar has been appointed new action President of Karachi Customs Agents Association (KCAA) on Tuesday. The sources said in absence of Shahnawaz A. Sattar, President…
KARACHI: Aiming to stop black money especially in the real estate sector, government has introduced Benami Transactions (Prohibition) Bill, 2016 in the Parliament. The move came after several partially successful…
KARACHI: President of the Karachi Chamber of Commerce & Industry (KCCI) Younus Muhammad Bashir has said that there was absolutely no solution to deal with issues emerging after the issuance…
KARACHI: The Federal Board of Revenue (FBR) on Friday imposed 5 percent advance tax on different functions including weddings, seminars, workshops, exhibitions, concerts, parties or any other gathering at a…
KARACHI: Muhammad Jawed Zakaria (Judicial Member) Appellate Tribunal Inland Revenue (Pakistan) Karachi rejecting appeal of M/s Faysal Bank Limited has directed to pay default surcharge levied by the Commissioner Inland…
KARACHI: The Honorable High Court of Sindh yesterday granted a stay order against the Federal Government’s move to deny offset of input sales tax on services paid to provinces against…
KARACHI: AL-Baraka Bank (Pakistan) Limited (ABPL), a Bahrain and Emirates joint entity, has decided to purchase ‘The Burj Bank Pakistan and submitted the same for this possible merger to the…
KARACHI: Despite the downward trend in Direct Investment, the country’s total foreign investment enhanced by 124.8 per cent to $113.9 million owing to the higher inflows of portfolio investments in…
KARACHI: Inland Revenue Appellate Tribunal Muhammad Javed Zakarya has set aside the order of DC Inland Revenue who had rejected 25 percent of the claim of purchases in the trading…
KARACHI: Inland Revenue Appellate Tribunal comprising Muhammad Javed Zakarya has set aside the penalties imposed on M/s Resilience Xpert Pvt Ltd by Commissioner Inland Revenue for non-filing of withholding tax…
KARACHI: The Ministry of Finance through Federal Board of Revenue (FBR) spends millions of rupee for improving tax recovery system and appoints commissioners, assistant commissioners and tax specialist lawyers, but…
KARACHI: Chairman APTMA Tariq Saud Thursday said the Zero Rating Sales Tax issue to five export oriented Textile sector has been twisted by some elements of the Federal Board of…
KARACHI: Executive Vice President and Secretary General of Shandong Chamber of Commerce China, Mr. Wangxuemin has said that Shandong Chamber wants to enhance collaborations with Karachi Chamber of Commerce and…
KARACHI: The Supreme Court (SC) of Pakistan on Monday restrained Bahria Town from undertaking any development activity on 5,786 acres of land in Karachi with immediate effect. The Supreme Court…
KARACHI: Consumer Price Index (CPI) inflation stood at 4.1 per cent in July 2016 year-on-year (YoY), which is a 19-month high and higher than market expectations. Previous month in June…
KARACHI: Despite the higher profits of Rs 488 million in April-June 2016, Pak Suzuki Motor Company (PSMC) Monday increased prices of all its car models by 3 per cent, minimum…