MCC Preventive Lahore comes hard on smuggling
LAHORE: The MCC Preventive Lahore is rigorously pursuing the anti-smuggling campaign and during the month of May 2016 large quantity of smuggled, non-duty paid goods were seized worth Rs28.7 million.…
Pakistan Customs, Tax, Shipping & Business News Resource
LAHORE: The MCC Preventive Lahore is rigorously pursuing the anti-smuggling campaign and during the month of May 2016 large quantity of smuggled, non-duty paid goods were seized worth Rs28.7 million.…
KARACHI: The much awaited withdrawal of the federal excise duty (FED) on services, which are now subject to provincial sales tax, has been proposed in the Finance Bill 2016. In…
KARACHI: The government has proposed to cap the tax exempted import of raw materials to 110 percent of the quantity imported and consumed in the last tax year. Presently, taxpayers…
KARACHI: The government has proposed to tax income of Pakistan Cricket Board (PCB) derived from sources outside Pakistan at the rate of 4.0 percent. According to Finance Bill 2016, PCB’s…
KARACHI: The governments intends to introduce multi-fold increase in the tax rate applicable, gross receipts from services rendered and construction contracts executed outside Pakistan. Presently, gross receipts from services rendered…
KARCHI: Through Finance Bill 2016, the rate of tax on dividends from mutual funds is proposed to include separate rates for filers and non-filers. According to the proposes structure, individual…
KARACHI: The Finance Bill 2016 proposes to enable the Federal Government to enter into a tax treaty or tax information and exchange agreement or multilateral convention or inter government agreement…
KARACHI: Federal government, through the Finance Bill 2016, has extended Super tax as applicable for tax year 2015 to tax year 2016 also. Through Finance Act, 2015, Super tax was…
KARACHI: The Federal Budget 2016 brings no major policy change in the taxation regime. Except for certain incentives for industrialization, most of the proposals relate to tax collection measures instead…
KARACHI: The Finance Bill 2016 seeks to introduce a unique non-income based Fixed Tax Regime for ‘Builders’ and ‘Developers’. Under this regime, tax liability for the builders and developers shall…
KARACHI: The federal government has increased the rate of capital gains tax (CGT) on disposable of securities for non-filers, while rates are kept intact for filers. Finance Bill 2016 proposes…
ISLAMABAD: The federal government has imposed income tax on income derived from rental property on both individuals and association of persons. According to the proposals made in finance Bill 2016,…
KARACHI: All payments made to non-resident person for foreign produced commercials has been subjected to income tax at the rate of 20 percent in the budget FY 2016-17. The Finance…
KARACHI: Federal government through the Finance Bill 2016 has granted 40-year exemption from sales tax and federal excise duty on imports and supplies to concession holder of Gwadar Port Authority…
KARACHI: The Finance Bill 2016 proposes to rationalize the Customs tariff besides withdrawing exemptions aimed at eliminating discriminatory tax exemptions and concessions. Finance Bill proposes to reduce tariff slabs from…
KARACHI: Federal Finance Minister Senator Ishaq Dar announced relief and special measures for almost all sectors of economy besides a substantial increase in salaries of Federal government employees, pensioners while…
KARACHI: Director Customs Valuation Karachi Dr. Wasif Memon has revised the customs values of Vacuum flasks vide Valuation Ruling No.864/2016. It was known that values of vacuum flasks had increased…
KARACHI: All the container terminals in Karachi have initiated service to weigh laden export containers as the new Safety of Life at Sea (SOLAS) convention takes effect on July 1,…
KARACHI: The Federal Tax Ombudsman (FTO) has advised MCC Appraisement West to submit a reply to the allegations leveled by Sharjeel Jamal of M/s U Trade that he was being…
ISLAMABAD: Airport Staff of Model Customs Collectorate Islamabad has seized foreign currency equivalent of Rs10.4 million, which was being smuggled out. Collector Arsalan Subuctageen is keeping strict monitoring on the…