The Union of Small and Medium Enterprises (UNISAME) has raised alarm over the escalating issue of the exchange rate, urging the Ministry of Finance to take immediate action.
(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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KCCI raises concerns over retrospective CVT implementation on motor vehicles
Karachi Chamber of Commerce and Industry (KCCI) has taken a stand against the retrospective implementation of the Capital Value Tax (CVT) on the transfer of motor vehicles. President of KCCI, Mohammed Tariq Yousuf, has assured members of the Automotive Traders & Importers Association (ATIA) that the issue will be raised and addressed.
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Alibaba.com participates in TEXPO 2023
Karachi, May 26, 2023 – Alibaba.com, a leading global business-to-business (B2B) e-commerce platform, Friday announced its participation in the 4th International Textile Exhibition (TEXPO 2023), organized by the Trade Development Authority of Pakistan (TDAP) from May 26 to May 28, 2023.
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FPCCI welcomes direct shipping, cargo service between Russia and Pakistan
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed its support for the commencement of direct shipping and cargo service between Russia and Pakistan.
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Philip Morris expresses concerns over surging illegal cigarette market in Pakistan
Islamabad, May 25, 2023: Pakistan’s documented tobacco sector is grappling with a substantial decline in sales, resulting in billions of rupees in losses for the national exchequer.
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PALSP raises concerns over misuse of sales tax exemptions in NMDs
ISLAMABAD: The Pakistan Association of Large Steel Producers (PALSP) has expressed serious concerns regarding the misuse of sales tax exemptions granted to manufacturers in the Newly Merged Districts (NMDs) of Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA).
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FPCCI demands abolishing section 7E of Income Tax Ordinance
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called on the government to abolish Section 7E of the Income Tax Ordinance, 2001.
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KATI urges postponement of EIF requirement to revive industry
Karachi, May 24 – The Korangi Association of Trade and Industry (KATI) has called on authorities to postpone the implementation of the Electronic Import Form (EIF) requirement in order to facilitate the revival of the industry.
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Open file transactions facilitate tax evasion in property sector: report
A recent report published by the Pakistan Business Council (PBC) highlights the prevalence of tax evasion in property transactions facilitated by open files, which are often exchanged without official transfer of ownership or payment of associated taxes. These undocumented transactions have allowed individuals to evade tax obligations, according to the report.
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Study provides insights into Pakistan’s struggle to tax retailers and wholesalers
A recent study conducted by the Pakistan Business Council (PBC) sheds light on the country’s persistent challenges in bringing wholesalers and retailers into the tax net.
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