The State Bank of Pakistan (SBP) has reported a significant decrease in the inflow of Foreign Direct Investment (FDI) into Pakistan during the first half of the current fiscal year, signaling a challenging economic environment.
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Rupee Eases Against Dollar in Stable Currency Market
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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