May 25, 2022

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Pakistan Revenue

Tag: commercial importers

Under-invoicing by commercial importers destroying industry: PBC
May 29
Budget 2021-2022, Trade & Industry

Under-invoicing by commercial importers destroying industry: PBC

KARACHI: The Pakistan Business Council (PBC) has informed the higher authorities that the massive under-invoicing, especially by commercial importers, is destroying domestic industry. In its proposals for budget 2021/2022 the PBC pointed out that across the board massive under invoicing and dumping of imported products has been increasing. Information regarding values at which various custom […]

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Procedure for importers registration for customs clearance
Jan 13
Pakistan Customs

Procedure for importers registration for customs clearance

KARACHI: Commercial and non-commercial importers are required to get registered with Pakistan’s online WeBOC system for clearance of consignments. In order to access the online Customs portal WeBOC, the person would first have to register themselves with Federal Board of Revenue (FBR). WEBOC EXTERNAL USER REGISTRATION FORM NTN Number * STRN * Business Name * […]

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Commercial importers demand abolishing CNIC condition, FTR restoration
Jun 5
Trade & Industry

Commercial importers demand abolishing CNIC condition, FTR restoration

KARACHI: Commercial importers have demanded the government of abolishing condition of Computerized National Identity Card (CNIC) and restoring Final Tax Regime (FTR) in order to save businesses from adverse impact of COVID-19. Amin Yousuf Balgamwala, Chairman Pakistan Chemical Dyes and Merchants Association (PCDMA) and former Director of Karachi Stock Exchange has appealed to Prime Minister […]

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Commercial importers, traders require filing annual returns, maintain complete record
Feb 23
Taxation

Commercial importers, traders require filing annual returns, maintain complete record

KARACHI: Commercial importers and individual traders are required to file income tax return and maintain complete records of transactions, a tax analyst said. Murtaza Qurban, Executive Manager, EY Ford Rhodes highlighted the application of minimum tax on commercial importers and individual traders in an event recently organized by Karachi Tax Bar Association (KTBA). He said […]

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ECC allows import of controlled chemicals through commercial importers
Feb 20
Finance

ECC allows import of controlled chemicals through commercial importers

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday allowed import of controlled chemicals through commercial importers. The ECC which met under the chair of Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh allowed import of controlled chemicals through commercial importers. The chemicals will includes acetone, anthracitic acid, ethyl […]

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FBR to examine transaction records of commercial importers: CCIR
Feb 14
Taxation

FBR to examine transaction records of commercial importers: CCIR

KARACHI: Federal Board of Revenue (FBR) will examine transaction records of commercial importers as they are no more under Final Tax Regime (FBR), Badaruddin Ahmed Qureshi, Chief Commissioner Inland Revenue (CCIR), Regional Tax Office (RTO)-II Karachi said. He was addressing a seminar on ‘Minimum Tax Implications After the Finance Act, 2019’ organized by Karachi Tax […]

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Pakistan Customs assures eliminating import barriers
Jan 17
Trade & Industry

Pakistan Customs assures eliminating import barriers

KARACHI: Pakistan Customs has assured commercial importers of eliminating import barriers and improve facilitations through online system WeBOC. Dr. Mohammad Nadeem Memon, Collector of Customs, has assured to solve the problems facing the commercial importers at the import level and also provide all possible facilities. He was talking to a delegation called by Pakistan Chemicals […]

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