Traders criticizes FBR for early implementation of CNIC condition

KARACHI: Traders have strongly criticized Federal Board of Revenue (FBR) for applying condition of Computerized National Identity Card (CNIC) for sales tax invoices much before its promised date of September 30, 2019. Read more »

ABAD, CDC sign MoU for digitalization of land record

KARACHI: Association of Builders and Developers of Pakistan (ABAD) and Central Depository Company Pvt Limited (CDC) on Thursday signed an historic Memorandum of Understanding (MoU) for the digitalization of land records through... Read more »

KCCI opposes proposal to extend tenure of FPCCI office bearers

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has strongly opposed to the proposal regarding extending the tenure of office bearers of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) from... Read more »

Govt preparing comprehensive policy to develop Karachi: Ali Zaidi

KARACHI: Federal Minister for Maritime Affairs Syed Ali Hyder Zaidi has said that the federal government is preparing a comprehensive policy for the development of Karachi and the first phase of cleaning... Read more »

KCCI warns of mass unemployment, business closure on new mini budget

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has warned the government of mass unemployment and closure of business as a result of any move to introduce mini budget or imposing additional... Read more »

SBP urges business community to discourage cash transactions

KARACHI: The governor of State Bank of Pakistan (SBP) Dr. Reza Baqir has urged the business community to discourage cash transactions in order to help the economy to grow. Read more »

Yarn merchants demand restoration of 1pc withholding tax for textile value chain

KARACHI: Pakistan Yarn Merchants Association (PYMA) has demanded the Federal Board of Revenue (FBR) to restore one percent advance income tax for textile value chain. Read more »

High tax rates to discourage industrialization: KCCI

KARACHI: Raising the tax rate is not the right solution for enhancing revenue as it will discourage expansion and industrialization but the actual solution lies in broadening the tax net, Junaid Makda,... Read more »

NAB not to process sales tax, income tax cases of business community

KARACHI: Justice Javed Iqbal, Chairman, National Accountability Bureau (NAB) has said that the bureau will not process cases of income tax and sales tax of business community. Read more »

Tax measures, rupee depreciation adversely hit auto industry

KARACHI: The revenue measures taken by the government in the budget 2019/2020 and massive depreciation in Pak Rupee value have been major challenges for the auto industry as these factors have already... Read more »

FPCCI demands immediate release of export refunds, duty drawbacks

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the government of issuing all outstanding export refunds, rebates and duty drawbacks. Read more »

Car sales plunge by 42pc in July 2019

KARACHI: Car sales have witnessed a sharp decline of 42 percent in July 2019 owing to massive depreciation in local currency and tax measures taken in the budget 2019/2020, analysts said on... Read more »