Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The budget did not address the basic problems facing the agriculture sector, Waheed Ahmed Patron-in-Chief Pakistan Fruits and Vegetables Exporters Association (PFVA) said. The impact of climate change has…
Based on first assessment of the budgetary tax measures announced today, it appears to be an interim budget with short term measures for certain sectors, but lacking on measures to…
Karachi (PR): Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the federal budget 2023 – 24 presents unrealistic picture of the economy; and, therefore, the budgetary targets set in…
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…
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…
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…