Pakistan Revenue
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of four freight forwarders for defaulting payment and non-compliance of filing sales tax returns. The SRB issued suspension notices to the following freight forwarders: Muhammad Rafique (M/s. Rafique Brothers) M/s. Prime Ocean Cargo Management Company (Pvt) Limited M/s. Shahnoor Weavers Muhammad Tahir Imam (M/s. ST […]
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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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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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In a significant development aimed at improving access to credit for small businesses and the agriculture sector, the Securities and Exchange Commission of Pakistan (SECP) has officially established the Secured Transaction Registry (STR). This registry will record charges and security interests created by entities on their movable assets, facilitating easier and more secure access to […]
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KARACHI: The stock exchange plunged by 816 points on Monday on report of finalization of loan program with IMF. The benchmark KSE-100 index closed at 33,900 points as against 34,717 points showing a decline of 816 points. Analysts at Arif Habib Limited said that index saw a major draw down of 937 points, post Pakistan […]
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The Pakistani Rupee (PKR) remained stable against the US Dollar (USD) in the interbank market on Monday, closing at Rs141.40, the same level as last Friday, despite swirling rumors about a potential downturn following discussions between Pakistani authorities and the International Monetary Fund (IMF) regarding a new loan program.
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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.
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KARACHI: International Monetary Fund (IMF) will provide $6 billion under 39-month extended fund facility (EFF) to Pakistan, a statement said on Sunday. In response to a request by the Pakistani authorities, an IMF mission led by Ernesto Ramirez Rigo visited Islamabad, Pakistan from April 29 to May 11 to discuss IMF support for the authorities’ […]
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KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish Final Tax Regime (FTR) for commercial importers and other segment of the economy in order to make the taxation system equitable. FBR sources said that suggestions had been received from business community and large business houses to eliminate the FTR and presumptive tax regime. […]
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KARACHI: Federal Board of Revenue (FBR) has been suggested to impose environmental tax on industries producing non-renewable and polluting materials. Pakistan has a wide range of industries, which are involved in usage and production of nonrenewable, polluting materials that are extremely harmful for our environment. “There are many entities, AOPs and sole proprietors who are […]
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