Higher duty rates proposed for car, luxury items import

KARACHI: The Federal Board of Revenue (FBR) has been suggested to impose higher rates of duties on import of non-essential and luxury items in order to reduce current account deficit. Read more »

Tax amnesty scheme step in right direction: FPCCI

KARACHI: The members of Federation of Pakistan Chambers and Commerce of Industry (FPCCI) has unanimously declared the recently announced tax amnesty by the present government is step in right direction. Read more »

SBP may continue with monetary policy tightening; 100 basis points increase likely

KARACHI: The State Bank of Pakistan (SBP) likely to increase key policy rate by 100 basis points in the next monetary policy announcement scheduled for May 20, 2019, analysts said. Read more »

FBR chairman agrees on abolishing withholding tax on raw materials

KARACHI: Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR) on Saturday asked business community to provide list of raw material for reducing tax rates on import stage. Read more »

Rupee falls by 4.58 percent against dollar in a week

KARACHI: The rupee fell by 4.58 percent against dollar during the last week in interbank foreign exchange market. The fall mainly attributed to IMF loan program which was recently agreed by Pakistan. Read more »

Weekly Review: Monetary policy to set market trend

KARACHI: The change in key policy rate to be announced by the State Bank of Pakistan (SBP) on May 20 will set the market trend during the next week. Read more »

PTBA suggests 5-year policy for gradually reducing sales tax rate

KARACHI: Pakistan Tax Bar Association (PTBA) has suggested gradually reduction of sales tax rate under five-year policy and for first year the sales tax rate should be brought down to 15 percent... Read more »

Exemption on import of telecom equipment demanded to encourage investment

KARACHI: Foreign and multinational companies have demanded the Federal Board of Revenue (FBR) to exempt sales tax and customs duty on import of telecom equipment in order to encourage investment in this... Read more »

Elimination of regulatory duty, additional customs duty on essential raw materials recommended

KARACHI: Federal Board of Revenue (FBR) has been suggested to eliminate additional customs duty and regulatory duty on essential raw materials. Read more »