Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Chief Collector South Ashad Jawad has commissioned an exercise to check the misuse of Electronic Import Form (EIF) and the mis-declaration of PCT code thereof of the imported consignments.…
KARACHI: The Supreme Court of Pakistan has encouraged Pakistan Customs to take independent decisions and address the problems of importers who are not issued the Electronic Import Form (EIF) by…
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 State Bank of Pakistan (SBP) on May 17, 2023 has cancelled the authorization/license of M/s. Noble Exchange International (Pvt.) Limited on account of contraventions of the relevant laws and…
The State Bank of Pakistan (SBP) on May 03, 2023 has cancelled the authorization/license of M/s. Mega Currency Exchange Company ‘B’ (Pvt.) Limited on account of contraventions of the relevant…
The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has sent an SOS to Federal Finance Minister Ishaq Dar, appealing to him for removal of imports of auto/auto parts…
Member Customs – FBR, Mukarram Jah Ansari and DG I&I Faiz Ahmed are pursuing a rigorous anti-smuggling campaign with special focus on Quetta. Under invoicing and smuggling through border/ports is…
Says over-valued rupee damages exports, remittances, as real exchange rate is Rs295/1 dollar: LAHORE: Noted economist and former finance minister Dr Hafiz Pasha has warned that Pakistan inflation can skyrocket…
KARACHI: State Bank of Pakistan (SBP) has withdrawn prior approval for banks for initiating import transactions. Previously the condition was imposed in May 2022. In a circular issued on Tuesday,…
A high-level meeting was held between the Governor, State Bank of Pakistan (SBP) and the Director General, Federal Investigation Agency (FIA) on November 8, 2022. The meeting took stock of…
In order to further enhance transparency and promote documentation in the foreign exchange transactions, State Bank of Pakistan has advised the Exchange Companies that all foreign currency sale transactions of…
Trade based money laundering takes advantage of the complexity of trade systems, the involvement of multiple parties and jurisdictions make risk management processes more difficult. The Web Based Customs Clearing…
SBP initiated the project of ‘End-to-End Digitalization of FX Cases’ with an objective to enhance ease of doing business in the country by providing a fully digitalized platform to business…
Considering the market dynamics and keeping pace with changing business environment, SBP is in the process of revising the Foreign Exchange (FE) Manual in consultation with relevant stakeholders in a…
KARACHI: Managing Director of State Bank of Pakistan’s Banking Services Corporation Muhammad Ashraf Khan has said that digitalization of foreign exchange, which started in March 2020, has been expanded from…
A meeting of Federation of Pakistan Chambers of Commerce and Industry’s Advisory Council on Budget Proposals comprising of Senior Businessmen, Former Tax Officials, Tax Experts and Practitioners and leading economist…
KARACHI: Two core departments of State Bank of Pakistan (SBP) related to forex operations i.e. Exchange Policy Department (EPD) & Foreign Exchange Operations Department (FEOD) have recently arranged series of…
KARACHI: Directorate of Customs Intelligence and Investigation Karachi has lodged an FIR against several accused for smuggling of the goods to KEPZ, evasion of government revenue through mis-declaration and submission…
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), held a roundtable to discuss measures to reduce outflow of foreign exchange pertaining to reinsurance business through optimizing local risk retention.…
KARACHI: One Customs clearing agent Syed Amjad Ali Shah has expressed concerns over the recently issued statutory order that customs duty and taxes would be collected in foreign exchange on…