The Pakistani Rupee experienced a slight decline of one paisa against the US Dollar in a range-bound foreign currency market on Wednesday.
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Customs destroys counterfeit products worth Rs120 million
Pakistan Customs took a significant step on Wednesday by destroying a substantial quantity of counterfeit products valued at Rs120 million.
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Customs imposes 10pc fine for releasing unregistered phones
KARACHI – Pakistan Customs has announced the imposition of a 10 percent fine on the total amount of duty and taxes involved for the clearance of unregistered mobile phones.
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Incentives fail to improve textile export
Pakistan’s textile industry, despite benefiting from incentives related to duties and taxes, has failed to achieve significant improvements in exports.
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PSX asks brokers to file suspicious transaction report to FMU
KARACHI – The Pakistan Stock Exchange (PSX) has issued a significant directive, compelling stock brokers to file Suspicious Transaction Reports (STR) with the Financial Monitoring Unit (FMU) as part of efforts to combat money laundering and financing terrorism.
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Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax
Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.
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Pakistan imposes new conditions for clearance of new and used imported vehicles
In a bid to enhance transparency and ensure fiscal compliance, Pakistan has implemented new conditions for the clearance of both new and used imported vehicles under concessionary schemes.
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MCC Preventive auctions confiscated vehicles on January 18
The Model Customs Collectorate (MCC) Preventive has scheduled a public auction of confiscated vehicles to be held on January 18, 2019, at the headquarters of the Anti-Smuggling Organization (ASO) in Ghasbandar, Karachi.
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PM task force proposes zero percent income tax on internet
Islamabad – In a move aimed at promoting the information technology (IT) industry in Pakistan, the Prime Minister’s Task Force has proposed the elimination of income tax on internet services.
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Advance tax on domestic, international air tickets adjustable
The Federal Board of Revenue (FBR) has recently introduced revised advance tax rates on both domestic and international air tickets to be collected from purchasers.
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