April 23, 2024

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Pakistan Revenue

Day: May 13, 2019

Pakistan Customs launches swift consignment clearance system to improve ease of doing business
May 13
Pakistan Customs, Taxation

Pakistan Customs launches swift consignment clearance system to improve ease of doing business

KARACHI: Pakistan Customs on Monday launched the swift consignment clearance software for improving ease of doing business and trading across the border indices of the country. The system namely ‘WeBOC Global’ was inaugurated by Member Customs Dr Jawwad Uwais Agha at Custom house, Karachi. He introduced the key features of the newly developed ICT system […]

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OGDCL discovers huge deposits of gas in Sindh
May 13
Corporate

OGDCL discovers huge deposits of gas in Sindh

KARACHI: Oil and Gad Development Company Limited (OGDCL) has discovered huge amount of gas at exploratory well Mangrio 01, District Tando Muhammad Khan, Sindh Province. In a statement on Monday, the company said that the structure of Mangrio Well 01 was drilled and tested using OGDCL’s in house expertise. The well was drilled down to […]

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Secured transactions registry established in SECP
May 13
Corporate, Finance

Secured transactions registry established in SECP

ISLAMABAD: The function of Secured Transaction Registry (STR) has been established at the Securities and Exchange Commission of Pakistan (SECP). The registry will record charges/security interests created by entities on their movable assets. The Financial Institutions (Secured Transactions) Act, 2016 enacted to provide an integrated legal framework for creation of security interest over movable assets […]

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Rupee ends unchanged in interbank forex market
May 13
Money & Banking

Rupee ends unchanged in interbank forex market

KARACHI: The rupee ended unchanged against dollar on Monday despite rumors of deterioration after IMF and Pakistan authorities on an agreement for new loan program. The rupee ended Rs141.40 to the dollar the same level of last Friday in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.39 […]

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KTBA suggests full fledged VAT, reduction in sales tax rate to 10pc
May 13
2019-2020, Budget, Taxation

KTBA suggests full fledged VAT, reduction in sales tax rate to 10pc

KARACHI: Karachi Tax Bar Association (KTBA) has suggested the tax authorities for introduction of full fledged value-added tax (VAT) and reduction of sale tax rate up to 10 percent in order to discourage under invoicing, corruption and smuggling. The KTBA recently organized pre-budget seminar to formulate tax proposals for budget 2019/2020. Saud-ul-Hassan, Director Tax at […]

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