RD upto 90% imposed on 611 items
KARACHI: The Ministry of Finance has slapped Regulatory Duty (RD) in the range of 5.0% to 90% on 611 different importable items including vehicles to discourage unnecessary imports, while RD…
1% tax imposed on persons owning more than one property
KARACHI: All persons who have more than one immovable property exceeding Rs.25 million situated in Pakistan shall be deemed to have received rent equal to 5% of the fair market…
17% GST imposed on $3.7bn worth of plant & machinery imports
KARACHI: Through the mini-budget, the government has proposed implementation of 17% GST on 140 items which are essentially consumable and industrial goods. “Amongst plant and machinery imports, our back of…
FBR imposes 5% tax on weddings, concerts and other events
KARACHI: The Federal Board of Revenue (FBR) on Friday imposed 5 percent advance tax on different functions including weddings, seminars, workshops, exhibitions, concerts, parties or any other gathering at a…
M/s Basathia Impex penalized for its employee’s bad conduct
KARACHI: Additional Collector MCC Appraisement West-Licensing Authority Mohammad Farukh Sharif has imposed a penalty of Rs50,000 on M/s Basathia Impex and terminated the Customs permit of its employee Tanveer a.k.a…
PCS officer removed from service
KARACHI: The Federal Board of Revenue (FBR) has dismissed Ms. Misbah Khatana (BS-19) Additional Director, Directorate of Risk Management Karachi on account of inefficiency & misconduct, a notification said on…
Export of jewelry, gold against fake Form-Es; exporters imposed mammoth penalties
KARACHI: Collector Customs Adjudication Chaudry Muhammad Javaid has charged an entire racket for fiscal fraud and imposed mammoth penalties on several exporters and agents for exporting jewelry against fake Form-E…
Government rationalizes additional customs duty
KARACHI: The government of Pakistan has imposed 1.0 percent additional customs duty on import of various products. SRO 476(I)/2016 has notified amendments in SRO 1178(I)/2015. Accordingly, exemption from additional customs…
Regulatory duty imposed on several goods
KARACHI: The federal government has imposed regulatory duty on several products vide SRO 475(I)/2016. Accordingly, through amendment in SRO 668(I)/2014 regulatory duty of 25% is imposed on whey powder, milk…