Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: After abolition of zero-rated tax regime under SRO 1125, purchases (whether through imports or domestic supplies) in textile sector were subjected to sales tax @ 17% and the inputs…
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…
The textile exporters have urged the Prime Minister to restore the “zero-rating on sales tax – “No Payment No Refund Regime” by revival of SRO 1125” for the export-oriented sector.…
Ahmed Chinoy Chairman of Pakistan Cloth Merchants Association requested the Government to remove major hindrances which are identified by the Textile Industry in the upcoming budget 2020-21. He said the…
Government’s Economists & Financial Managers expertise and knowledge have failed due to lack of practical exposure towards the industry and businesses as well as recession caused by pandemic like COVID19.…
Karachi: Pakistan Chemicals and Dyes Merchants Association (PCDMA) urged the government to restore fixed tax regime (FTR) and SRO 1125 in the best economic interest of the country so that…
To resolve liquidity problem of exporters, restoration of Zero Rating on Sales Tax – No Payment No Refund Regime reinstating SRO 1125 is highly indispensible. The current volume of Pakistan…
KARACHI: Shaikh Shafiq Jhokwala, Chairman (Central) and Amir Amin Kothawala, Chairman (South Zone), Pakistan Readymade Garments Manufacturers & Exporters have stated that the value added textile export sector has reached…
KARACHI: Patron of SITE Association of Industry Zubair Motiwala has once again drew the attention of the federal government towards the difficulties being faced due to inability of fully automated…
Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government’s initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in…
KARACHI: The Federal Board of Revenue (FBR) has advised all chief commissioners of Inland Revenue to facilitate the exporters by issuing necessary confirmation to the utility providers for according preferential/reduced…
KARACHI: Disappointed with the government’s promise of issuing sales tax refunds within 72 hours, the All Pakistan Textile Mills Association (APTMA) has demanded to restore the zero-rated regime and reinforce…
KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Fahim Ahmed Siddiqui on Thursday allowed provisional release of eleven consignments of textile…
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Junaid Esmail Makda has expressed deep concerns over the problems being faced by the industries across Pakistan after the withdrawal of…
KARACHI: It seems the business community is losing faith in the government’s ability even to understand the country’s trade and economic system, as the value added textile sector have announced…
KARACHI: There has been much hue and cry opposing the government’s plan to withdraw concessionary SRO 1125(1)/2011, wherein various export sector trade bodies are unanimously claiming that withdrawal of the…
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Wednesday asked IRS, Pakistan Customs to reply that under…
KARACHI: Federal Board of Revenue (FBR) has amended SRO 1125(I)/2011 and notified six percent sales tax and two percent value addition tax on import of finished goods of textile and…
KARACHI: The Federal Special Court of Customs Taxation and Anti-Smuggling has rejected the bail application of a prime suspect of multi-million bogus refund scam Faraz Haroon Memon. According to sources,…
KARACHI: The Islamabad High Court has dismissed two petitions filed by the importers of polyurethane prepolymer and declined their claim of concessions under SRO 1125/2011. The petitioners claimed that the…