Karachi, August 12, 2024 – Millat Tractors Limited (MTL) raised a critical red flag on Monday, warning that the ongoing ambiguity in General Sales Tax (GST) regime could compel the company to halt its production activities.
(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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Small Traders Launch Protest Against Advance Income Tax
Karachi, August 12, 2024 – In a bold move signaling rising discontent among Karachi’s small business community, traders have announced a major protest against the imposition of advance income tax on retail operations.
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Traders Decry Advance Income Tax as ‘Anti-Business’
Peshawar, August 12, 2024 – The traders of Peshawar have vocally opposed the recent advance income tax collection measures introduced by the Federal Board of Revenue (FBR). During a crucial meeting held recently under the leadership of Malik Mehr Elahi, President of the Khyber Pakhtunkhwa Trade Association, the business community came together to condemn the new tax policies, describing them as detrimental to the local economy and unfairly burdensome.
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Unilever to Appeal Rs 60 Million Fine for Deceptive Advertising
Karachi, Pakistan – Unilever Pakistan has announced its decision to appeal a hefty Rs 60 million fine imposed by the Competition Commission of Pakistan (CCP). The fine, which stems from allegations of misleading advertising claims, specifically targets the marketing of Unilever’s Lifebuoy soap and hand wash products in Pakistan.
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CCP Slaps Rs60M Fine on Unilever Pakistan for Misleading Ads
KARACHI: August 10, 2024 — The Competition Commission of Pakistan (CCP) has imposed a substantial fine of PKR 60 million on Unilever Pakistan for broadcasting deceptive claims in television commercials for its hygiene and cleansing products, namely ‘Lifebuoy (Care and Protect) Soap’ and ‘Lifebuoy Hand Wash.’
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FTO Assures Industrialists of Swift Justice in Tax Matters
Karachi, August 9, 2024 – The Federal Tax Ombudsman (FTO), Dr. Asif Mahmood Jah, has pledged prompt action on taxpayer complaints, vowing to deliver justice within 4-6 weeks. Addressing the SITE Association of Industry during his recent visit,
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OICCI and UNDP Join Forces for Sustainable Pakistan
Karachi, August 8, 2024 – In a pioneering collaboration, the Overseas Investors Chamber of Commerce & Industry (OICCI) and the United Nations Development Programme (UNDP) Pakistan have forged an alliance to promote a more sustainable and inclusive future for Pakistan.
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Traders to Protest Against Soaring Electricity Bills and Taxes
Karachi, August 8, 2024: Karachi’s business community is gearing up for a major protest against exorbitant electricity bills and excessive taxation. The demonstration is scheduled for Thursday, August 8, at 4 PM, at Regal Chowk in Saddar. If the government fails to address their demands, traders have threatened a three-day nationwide shutdown.
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FTO Announces Setting Up Help Desk at KATI
Karachi, August 7, 2024 – Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah has announced the establishment of a help desk at the Korangi Association of Trade and Industry (KATI) to address the tax issues faced by industrialists.
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Foreign Investors Infuse $22 Billion into Pakistan Over 10 Years
Karachi, August 6, 2024 — The Overseas Investors Chamber of Commerce and Industry (OICCI) has unveiled its 2023 annual economic contribution survey, revealing that foreign investors have significantly bolstered Pakistan’s economy over the past decade. From 2013 to 2023, these investors injected an impressive $22.6 billion into the country, surpassing the net Foreign Direct Investment (FDI) of $19.8 billion received during the same period.
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