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.
(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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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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SITE Association urges government to lift import restrictions in budget 2023-2024
Karachi, May 23, 2023 – The SITE Association of Industry (SAI) has called on the government to lift import restrictions in the upcoming budget for 2023-2024.
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KCCI stresses out-of-box solutions to prevent further downslide in economy
The Karachi Chamber of Commerce and Industry (KCCI) has emphasized the need for out-of-the-box solutions to prevent a further downslide in Pakistan’s economy.
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Severe gas shortage forces textile industry to halt production: APTMA
KARACHI: The All Pakistan Textile Mills Association (APTMA) Tuesday May 23, 2023 announced that the textile industry is being compelled to suspend production due to a severe shortage of gas.
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Pakistan textile exports slump by 14% amid global recession
Pakistan’s textile exports have experienced a significant slump of around 14 percent in the period of July to April 2022-2023, according to data reported by the Pakistan Bureau of Statistics (PBS).
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