Pakistan’s trade deficit narrows by 34.42pc in July – November

ISLAMABAD: Pakistan’s trade deficit has narrowed by 34.42 percent during first five months (July – November) of current fiscal year owing to improvement in exports, said Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce, Textile, Industry & Production and Investment, on Sunday. In a tweet message, he said that as a result […]

by Anjum Shah

Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

Dec 1

Automotive

Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

ISLAMABAD: All two and three wheelers manufactured under Electric Vehicle Policy will sold at less than one percent sales tax for next seven years to bring the purchase price of EVs down, according to the policy. However, all two and three-wheeler EV’s imported shall be sold at one percent sales tax for the next five […]

by Anjum Shah

Property tax collection sharply rises by 214 percent

Dec 1

Taxation

Property tax collection sharply rises by 214 percent

KARACHI: The collection of property tax witnessed unprecedented growth of 214 percent owing to back to back increase in valuation of immovable properties by Federal Board of Revenue (FBR), sources said. The quarterly data released by the finance ministry revealed that the provinces had collected property tax to the tune of Rs7.8 billion during first […]

by Anjum Shah

SRB suspends sales tax registration of rice mill

Dec 1

Taxation

SRB suspends sales tax registration of rice mill

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of a rice mill for defaulting payment and non-compliance of return filing. The SRB through a notice suspended the registration of sales tax of M/s. Abdullah Lakhair Rice Mill for failure to deposit due amount of Sindh Sales Tax of Rs502,400. Besides, the rice mill […]

by Anjum Shah