Yarn merchants reject new customs valuation ruling

KARACHI: Pakistan Yarn Merchants Association (PYMA) has rejected the new valuation ruling for polyester filament yarn and urged the authorities to review the decision. Read more »

Filing annual return: large number to benefit from date extension

KARACHI: A large number of taxpayers may file their annual income tax returns while taking advantage of date extension up to March 31, 2019, tax manager said. Read more »

Income Tax Ordinance 2001: advance tax on sale, purchase of immovable properties

KARACHI: Adjustable advance tax is applicable for filers and non-filers of income tax return on sales and purchase of immovable properties to be collected at the time of transaction. Read more »

Banks require to provide monthly report of foreign exchange transactions

KARACHI: Banks have been required to provide foreign exchange transactions in each currency to State Bank of Pakistan (SBP) on monthly basis. Read more »

Mobile phones import down by 22.15 percent on mandatory registration

KARACHI: The import of mobile phones has declined by 22.15 percent in February 2019 following imposition of mandatory registration with regulatory authority, said Pakistan Bureau of Statistics (PBS) on Saturday. Read more »