Jun 2

MCC Appraisement East announces auction of trucks

KARACHI: Model Customs Collectorate (MCC) Appraisement East has announced auction of dump trucks and other heavy construction machinery on June 10, 2019 at East Wharf Karachi. Following machinery will be presented for auction: 01. OLD AND USED ASPHALT PAVER, MODEL:PE-150B, ENGINE NO. BC0206, SERIAL NO. 76857, I/O. AND BRAND NOT SHOWN, WEIGHT: 5 MT. 1 […]

by Faisal Shahnawaz

FBR suggested abolishing regulatory duty on import of phrma raw materials

Jun 2

2019-2020, Budget, Taxation, Trade & Industry

FBR suggested abolishing regulatory duty on import of phrma raw materials

KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish regulatory duty and reduce customs duty on import of raw materials by pharmaceutical industry. Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 said that through the Finance Act 2008, custom duty on pharmaceutical raw materials was reduced […]

by Faisal Shahnawaz

FBR advised to allow tax adjustment on telecom services

Jun 2

2019-2020, Budget, IT & Telecom, Taxation

FBR advised to allow tax adjustment on telecom services

KARACHI: Federal Board of Revenue (FBR) has been urged to allow adjustment of withholding tax on services provided telecom sector. The Overseas Investors Chamber of Commerce and Industry (OICCI) in tax proposals for budget 2019/2020 recommended that the eight percent minimum tax regime should be withdrawn and should be made adjustable. The OICCI said that […]

by Faisal Shahnawaz

AFU Islamabad announces auction of confiscated goods on June 03

Jun 2

Pakistan Customs, Taxation

AFU Islamabad announces auction of confiscated goods on June 03

The Model Customs Collectorate (MCC) Air Freight Unit (AFU) in Islamabad has declared a public auction of confiscated goods, including a substantial quantity of LCD/LED Televisions.

by Faisal Shahnawaz

Jun 2

Taxation

FBR increases sales tax on petrol

ISLAMABAD: Federal Board of Revenue (FBR) has increased sales tax rate on petrol to 13 percent for the month of June 2019 from 12 percent, which was applicable in May 2019. The FBR issued SRO 603(I)/2019 dated May 31, 2019 and revised the sales tax rates on petroleum products effective from June 01, 2019. The […]

by Faisal Shahnawaz

Customs unfolds bid to clear mobile phones on passengers’ stolen information

Jun 2

Pakistan Customs, Taxation

Customs unfolds bid to clear mobile phones on passengers’ stolen information

KARACHI: Pakistan Customs has unfolded a bid to steal the data of air travelers for the purpose of mobile phone registration with the Pakistan Telecommunication Authority (PTA). According to the details the customs staff posted Jinnah International Airport (JIAP), Karachi detained a person, who was fraudulently obtained data of air travelers including passport numbers for […]

by Faisal Shahnawaz

KCCI expresses concerns over frequent rise in POL prices in Naya Pakistan

Jun 2

Trade & Industry

KCCI expresses concerns over frequent rise in POL prices in Naya Pakistan

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has expressed concerns over frequent rise in petroleum prices in Naya Pakistan of present government and said that such hike in prices will make life difficult for common men and will substantially increase the cost of doing business. President KCCI Junaid Esmail Makda in a statement on […]

by Mrs. Anjum Shahnawaz

FBR requested to extend date for filing sales tax return

Jun 2

Taxation

FBR requested to extend date for filing sales tax return

KARACHI: Federal Board of Revenue (FBR) has been urged to extend the date for filing monthly sales tax returns as public holidays announced by the government for Eid holidays coincide with the return filing due dates. A letter has been sent on Friday to FBR Chairman Syed Muhammad Shabbar Zaidi for urgent consideration and for […]

by Mrs. Anjum Shahnawaz

PTBA urges FBR to extend date for filing income tax returns

Jun 2

Taxation

PTBA urges FBR to extend date for filing income tax returns

KARACHI: Pakistan Tax Bar Association (PTBA) on Saturday urged Federal Board of Revenue (FBR) to extend the last date for filing income tax returns for Tax Year 2018 up to June 30, 2019 considering the recently launched tax amnesty scheme. In a letter to FBR Chairman Syed Muhammad Shabbar Zaidi, the PTBA informed that the […]

by Faisal Shahnawaz

Chemical merchants advocate FTR continuation for commercial importers

Jun 1

2019-2020, Budget, Pakistan Customs, Taxation

Chemical merchants advocate FTR continuation for commercial importers

KARACHI: Chemical merchants have strongly advocated continuation of Final Tax Regime (FTR) for commercial importers in the upcoming budget. In a statement issued on Saturday Shahid Vaseem, Chairman, Pakistan Chemicals & Dyes Merchants’ Association (PCDMA), said that because commercial importers pay 6 percent advance non-adjustable tax at import stage, whereas industrial importers of same raw […]

by Faisal Shahnawaz