Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: In pursuance of the decision of the Federal Cabinet dated September 30 2022, the Federal Government has authorized release of consignments of previously banned items for which Goods Declarations…
KARACHI: As per directions of the ECC/Cabinet, Tariff Policy Board (TPB) constituted under National Tariff Policy, 2019-24 having representation of all stakeholders i.e. Minister for Industries & Production, Chairman FBR,…
KARACHI: The government is reducing its targeted subsidy balance by 54% YoY to Rs699 billion for FY23. The subsidies granted to Independent Power Producers (IPPs) and Pakistan Holdings Private Limited…
KARACHI: The Finance Bill 2022 has proposed a fixed income and sales tax for small-scale retailers ranging from Rs3,000 to Rs5,000 per month depending on the monthly electricity consumption. Federal…
KARACHI: Government recently took measures to ban import of luxury items to curtail outflow of foreign exchange reserves of the country. Analysts believe that given our rising Balance of Payment…
KARACHI: Government is likely to set tax revenue collection target of Rs7.25trn for FY23 (9.2% of GDP), which is up 19% from the revised target of Rs6.1trn (9% of GDP)…
KARACHI: Government is expected to announce Federal Budget FY23 on June 10, 2022. Pakistan is eyeing revival of an IMF program and it is likely that the upcoming budget will…
KARACHI: Government has imposed a ban on the import of 38 non-essential luxury items under an “emergency economic plan”. Government will practice austerity and financially stronger people must lead in…
Federal government has announced three holidays in Islamabad for the Organization of Islamic Cooperation (OIC) Foreign Ministers Conference to be held in Pakistan from March 22 to 24, 2022. Imran…
Karachi: foodpanda, the leading food delivery platform and e-commerce company in the country, recently signed a Memorandum of Understanding with Government of Gilgit Baltistan to bring forth economic empowerment in…
UPaisa is leveraging its innovative digital financial ecosystem to facilitate hassle-free payments to government departments that earlier took lots of time and effort. The only Pakistani mobile financial service that…
Textile Exporters are annoyed and distressed in the wake of highest ever liquidity crunch being faced due to imposition of 17 percent GST whose refunds are excessively delayed by the…
KARACHI: To augment efforts towards simplification of the withholding tax regime, the government has deleted several withholding tax provisions including collection collection of advance tax on education related expenses remitted…
ISLAMABAD: The Federal Government has notified the Financial Institutions (Secured Transactions Registry – STR) Rules, 2019, enabling the establishment of a secured transactions registry for entities other than companies. The…
SYDNEY: Moody’s Investors Service has reaffirmed Auckland Council’s Aa2 credit rating on a stable outlook. Auckland Council s Group Chief Financial Officer Matthew Walker says that the rating reaffirms that…
KARACHI: The new property valuation mechanism introduced by the federal government has totally halted property registration activities all over Pakistan causing frustration among applicants and huge loses of revenue to…
KARACHI: The Federal Board of Revenue (FBR) has been authorized to notify the valuations of the properties throughout the country including Karachi, Lahore and Islamabad, said Ishaq Dar, Federal Finance…
KARACHI: The Karachi Cotton Association (KCA) has expressed its deep concern over the levy of 3.0 percent customs duty, 1.0 percent additional duty and 5.0 percent sales tax on import…
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…
KARACHI: The Federal Board of Revenue (FBR’s) likely initiative to introduce tax stamps on cigarette packs and other goods would not only help tightening noose around the unbridled non-tax paid…