Karachi, February 4, 2025 – The Directorate General of Valuation of Pakistan Customs has issued a new valuation ruling for determining duties and taxes on the import of lithium-ion batteries, aiming to curb under-invoicing and ensure fair taxation.
(more…)Author: Shahnawaz Akhter
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APCCA warns shutdown, FBR remains resolute on faceless system
Karachi, February 4, 2025 – The ongoing standoff between the Federal Board of Revenue (FBR) and the All Pakistan Customs Clearing Agents Association (APCCA) has reached a critical juncture, with the customs sector facing potential paralysis if the government does not address APCCA’s demands. As tensions escalate, the question remains whether authorities will engage in negotiations or maintain their rigid stance against the association’s ultimatum.
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KATI welcomes agricultural income tax bill approval in Sindh
Karachi, February 4, 2025 – The Korangi Association of Trade and Industry (KATI) has expressed strong support for the Sindh government’s approval of the Agricultural Income Tax (AIT) Bill, calling it a major step toward expanding the province’s tax base and fostering a more equitable tax distribution system.
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FBR unveils duty-free vehicle import scheme for Gwadar
Karachi, February 4, 2025 – The Federal Board of Revenue (FBR) has announced a major step to support the construction, development, and operations of Gwadar Port and the Gwadar Free Zone Area by allowing the duty and tax-free import of vehicles by concession holders and their operating companies.
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PSX suffers 810-point drop over property tax talk
Karachi, February 4, 2025 – The Pakistan Stock Exchange (PSX) faced further losses on Tuesday, shedding 810 points amid growing concerns over anticipated tax concessions for the property sector.
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KTBA proposes solutions to eliminate sales tax return issues
Karachi, February 4, 2025 – The Karachi Tax Bar Association (KTBA) has proposed comprehensive solutions to resolve the persistent issues taxpayers face while filing sales tax returns.
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PM task force recommends amnesty for property transactions
Islamabad, February 4, 2025 – A high-level task force established by Prime Minister Mohammad Shehbaz Sharif has put forward significant recommendations aimed at revitalizing the real estate sector by introducing an amnesty on property transactions.
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Cement offtake surges 14.08% year-on-year in January 2025
February 3, 2025 – The cement industry in Pakistan experienced significant growth in January 2025, with total cement despatches increasing by 14.08% compared to the same month last year, according to data released by the All Pakistan Cement Manufacturers Association (APCMA).
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PCDMA highlights complexities in SRO 55 issued by FBR
Karachi, February 3, 2025 – The Pakistan Chemical and Dyes Merchants Association (PCDMA) has expressed concerns over the complexities arising from SRO 55(I)/2025, issued by the Federal Board of Revenue (FBR), and its potential impact on traders.
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Pakistan’s exports surge 10% to $19.55 billion 7MFY25
Islamabad, February 3, 2025 – Pakistan’s exports have experienced a significant boost, rising by 10% to reach $19.55 billion during the first seven months (July – January) of fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.
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