Tax Credit Introduced for Construction of New Houses
June 9, 2023: In a bid to boost the construction sector and promote homeownership, the government has announced the introduction of a tax credit for individuals undertaking the construction of…
Pakistan Customs, Tax, Shipping & Business News Resource
June 9, 2023: In a bid to boost the construction sector and promote homeownership, the government has announced the introduction of a tax credit for individuals undertaking the construction of…
The government has announced the imposition of customs duty (CD) on the import of agricultural tractors as part of the new fiscal budget. The CD rates vary based on the…
The government has announced revised Super Tax slabs for the fiscal year 2023-24 (FY24), bringing significant changes for individuals with higher incomes. The new tax rates aim to ensure a…
In a move aimed at promoting the growth of the Information Technology (IT) and IT-enabled Services (ITeS) sectors, the government has announced a significant measure to support exporters. The government…
The government has proposed to levy a 10 percent withholding tax on bonus shares issued by companies to their shareholders, according to the budget document for 2023-24. The document states…
The government has announced a reduction in the customs duty (CD) on the import of hybrid electric vehicles (HEVs) in the fiscal budget 2023-24, which is expected to lower the…
In a bid to ensure fair and effective resolution of customs-related appeals, Finance Bill 2023-24 has proposed to establish a special bench. The order states that any appeal filed against…
The Pakistan Economic Survey 2022-23, released on Thursday, revealed that the cost of tax exemptions and concessions in the country rose by over 51 percent to a staggering Rs2.24 trillion,…
Finance Bill 202-24 granted the Federal Board of Revenue FBR) the authority to transfer the investigation of criminal cases related to Customs from one field formation to another. This directive,…
The federal cabinet has given the green light to the budget proposals for the fiscal year 2023-2024, which include a significant increase in the salaries of government employees. The decision…
The government has approved a Gross Domestic Product (GDP) growth target of an estimated 3.5 percent for the 2023-24 financial year (FY24), according to the Annual Development Plan for the…
In a bid to increase foreign exchange reserves and address loopholes hindering progress in this regard, the federal government has announced its decision to raise the Withholding Tax (WHT) on…
The federal government has decided to impose a flat 0.6 percent tax on citizens not appearing on the Federal Board of Revenue’s (FBR) Active Taxpayer List (ATL) for cash withdrawals…
Recognizing the vital role of the construction and allied industries in the economic development of the country, the government has unveiled a package of incentives aimed at promoting construction activities…
Karachi: June 9, 2023 – In a bid to promote the manufacturing and production of solar photovoltaic (PV) modules in the country, the federal government has put forth a proposal…
Karachi: In a move aimed at boosting foreign currency inflows, the federal government of Pakistan has announced a significant increase in the monetary limit for individuals bringing in funds from…
LAHORE: Customs Intelligence, Lahore (I&I) arrested an imposter impersonating Customs Assistant Director (AD) along with smuggled / tampered Toyota Prius car bearing Customs Intelligence Lahore’s secret registration number in an…
Karachi: M/s Ermi Fresh, an importing company, recently found itself in hot water after electronically filing a Goods Declaration (GD) for a consignment of assorted models of solar panels. The…
Karachi : The Policy Advisory Board of FPCCI strongly urges that inflation is cost-pushed and policy rates have proved to be an ineffective tool to control inflation. In any case,…
KARACHI: Pakistan’s economy experienced a modest growth of 0.29% in the fiscal year 2022-2023 (FY23), a significant decline from the previous year’s growth rate of 6.1%, according to Economic Survey…