KARACHI: Philip Morris (Pakistan) has said that significant tax hikes on cigarettes would only benefit illicit tobacco sector.
(more…)Category: Trade & Industry
This section covers news on trade and industry. Pakistan Revenue is committed to providing the latest updates on business trends.
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Pakistan’s exports to Afghanistan grow by 17%
Pakistan’s exports to Afghanistan have surge by 17.02% in first 8 months of fiscal year (2022-23).
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SBP makes banking loans to private sector impossible: KATI
Korangi Association of Trade and Industry (KATI) in a statement declared that SBP has made it possible for private sector to obtain loans from banking system.
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FPCCI rejects policy rate hike; terms economy to collapse
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday rejected the policy rate at 21 percent and termed it will lead the economy toward collapse.
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Hosiery manufacturers demand fast release of sales tax refunds
Hosiery manufacturers and exporters have urged the Federal Board of Revenue (FBR) to accelerate the pace of sale tax refund release.
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SBP imposes mark lien on delayed export inflows
The State Bank of Pakistan (SBP) has imposed a mark on lien for exporters who fail to realize export money within the prescribed time frame.
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PBC raises concerns over proposed requirement of beneficial owner records
The Pakistan Business Council (PBC) has raised concerns over the Federal Board of Revenue’s (FBR) SRO 229(I)/ 2023, which requires companies and foreign investors to maintain records of beneficial owners, despite the comprehensive documentation already mandated by the Securities and Exchange Commission of Pakistan (SECP).
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Property prices register 15% decline owing to heavy taxes, political uncertainty
Industry sources have reported a decline of around 15% in the prices of immovable properties during the first three months of 2023 due to the imposition of new taxes and political uncertainty.
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Bank borrowing by private sector plunges by 77% in Pakistan
Bank borrowing by Private sector in Pakistan has plunged by over 77 per cent during eight and half months of the current fiscal year when compared with the same period of the last fiscal year.
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FPCCI expresses concerns over gap in consultative process by authorities
Suleman Chawla, the Acting President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has expressed concerns about the lack of direction and consultative process between the government and the business community in Pakistan.
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