Govt increases duty on Cotton import from 2% to 3%
KARACHI: The government has further increased the custom duty on cotton import from 2 per cent to 3 per cent, while the industry has to pay a total 4 per…
APTMA expresses great concern over increase in custom duty
KARACHI: APTMA has expressed great concern over the callous attitude of the government in increasing the duty on import of raw cotton from 2 per cent to 3 per cent…
PBA sends letter to Chairman FBR to reconsider its budget proposals
KARACHI: The federal finance ministry has again imposed 4 per cent super tax on banks tax income and rejected all proposals of the Pakistan Banks Association (PBA). In a letter…
Federal Budget 2016-17 brings relief to almost all sectors, custom duties reduced, strict measures against non filers proposed
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…
Pulses register increase in prices due to poor agricultural production
KARACHI: The prices of all pulses have gone up before the federal budget 2016-17 due to falling production as agricultural sector is ignored by the present government viz a viz…
Customs Adjudication presents proposals to streamline the process
KARACHI: The Collectorate of Customs Adjudication had recommended several measures in its proposals for federal budget 2016-17, which would streamline the entire adjudication process. It has been observed that in…
PSX taxation recommendations will increase government’s revenues
KARACHI: The Pakistan Stock Exchange (PSX) has urged the government to consider its proposals for federal budget 2016-17 as these would increase investment in the country with no impact on…
FBR receives list of 53 Customs officers/officials, who need to be investigated
KARACHI: The Federal Board of Revenue (FBR) has received a list of 52 officers/officials of Customs Anti-smuggling Organization (ASO) and Customs Intelligence & Investigation (I&I), and the military authorities have…
Theft of transshipment cargo be made criminal offence for importer: MCC Lahore
KARACHI: The MCC Appraisement Lahore in its proposals for Federal Budget 2016-17 has suggested that pilferage/removal of goods during transshipment must be made a criminal offence for importer and not…
Super tax collection hangs in balance
KARACHI: A sizeable amount of government revenue is stuck up as the Sindh High Court has stayed recovery of Super Tax because of a petition filed by a leading brokerage…