Pakistan Customs, Tax, Shipping & Business News Resource
ISLAMABAD: In a major policy shift aimed at stimulating the real estate sector, the government has announced significant reductions in withholding tax rates for property purchases while abolishing federal excise…
The government has proposed to levy a 10 percent withholding tax on bonus shares issued by companies to their shareholders, according to the budget document for 2023-24. The document states…
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…
KARACHI: An appellate bench of High Court of Sindh (SHC) allowed a bunch of petitions, 28 in all through a common order in favor of service providing companies against levy…
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…
KARACHI: The rate of tax on dividend distributed by power generation companies is proposed to be enhanced to 15 percent from existing 7.5 percent, suggests Finance Bill 2019. Applicable tax…
KARACHI: The Finance Supplementary 2nd Amendment Bill presented by Finance Minister Asad Umar on Wednesday has proposed to remove withholding tax (WHT) on bank transactions and cash withdrawals by tax…
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan ordered release of a consignment of yarn imported by Golden…
KARACHI: Justice Muhammad Shafi Siddiqui of High Court of Sindh decreed two suits in favour of plaintiffs Umer Spinning Mills and Sunrays Textile Mills declaring that the plaintiffs are entitled…
KARACHI: The Directorate of Internal Audit – Customs has pointed several acts of omissions on the part of MCC Exports Port Qasim, which caused losses to the national exchequer. The…
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: Federal Board of Revenue (FBR) on Thursday said that about eight amendments have been introduced to Income Tax Ordinance, 2001 through Finance Act, 2016 regarding taxation of immovable properties…
KARACHI: The Federal Board of Revenue (FBR) has notified 7-day extension in the date of filing withholding tax (WHT) statements for the tax year 2016 till July 22, 2016. “FBR…
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…
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…
KARACHI: The Federal Board of Revenue (FBR) has notified special exemption allowed to growers of agricultural produce. Representatives of flour mills and trade bodies have raised the issue of income…
KARACHI: Collector Abdul Basit Chaudry has imposed a penalty of Rs10,000 on shipping agent M/s M.M Marine Services Pvt Ltd for non-intimating non-arrival of vessel as per schedule within 24…
KARACHI: Federal Board of Revenue (FBR) has issued Active Taxpayers List (ATL) for the Tax Year 2015. The ATL 2015 contains CNICs/names of individuals/NTNs of companies & Association of Persons…
KARACHI: Collector Customs Adjudication Chaudry Mohammad Javaid has imposed a penalty of Rs5.0 million on M/s Magna Textile Industries Pvt Ltd along with the payment of Rs25.57 million duty/taxes evaded…
KARACHI: The Federal Board of Revenue (FBR) has notified extension of reduced withholding tax rate at 0.4 percent on banking transaction up to April 30, 2016. The government imposed 0.6…