Jan 17

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 […]

by Mrs. Anjum Shahnawaz

New policy to eliminate tariff rate gap between commercial, industrial importers

Nov 22

Pakistan Customs

New policy to eliminate tariff rate gap between commercial, industrial importers

ISLAMABAD: The gap of duty and tax rates between commercial importers and industrial importers will be eliminated under newly proposed tariff policy. The National Tariff Policy 2019-2024 has proposed following measures for enforcement: (i) These policy recommendations will be implemented in a period of five years starting from the Budget 2020-21; (ii) The tariff slabs […]

by Mrs. Anjum Shahnawaz

KCCI to raise commercial importers’ problems with FBR

Nov 19

Trade & Industry

KCCI to raise commercial importers’ problems with FBR

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has assured commercial importers of taking up their issues with the Federal Board of Revenue (FBR) for resolving amicably. President KCCI Agha Shahab Ahmed Khan, in a statement on Tuesday, assured Pakistan Chemicals & Dyes Merchants Association (PCDMA) that the chamber will approach the FBR and other […]

by Mrs. Anjum Shahnawaz

Commercial importers to file income returns after removal of FTR

Jun 15

2019-2020, Budget, Taxation

Commercial importers to file income returns after removal of FTR

ISLAMABAD: Commercial importers will require to file return of income and statement of assets to the tax authorities after the removal of final tax regime. Tax authorities said that the commercial importers would require to submit details of imports and source of payment for opening the letter of credit (LCs) through their returns. According to […]

by Faisal Shahnawaz

FBR suggested to abolish FTR for commercial importers

May 12

2019-2020, Budget, Taxation

FBR suggested to abolish FTR for commercial importers

KARACHI: Federal Board of Revenue (FBR) has been suggested to abolish Final Tax Regime (FTR) for commercial importers and other segment of the economy in order to make the taxation system equitable. FBR sources said that suggestions had been received from business community and large business houses to eliminate the FTR and presumptive tax regime. […]

by Faisal Shahnawaz

Commercial importers destroying domestic industry: PBC

May 5

2019-2020, Budget, Trade & Industry

Commercial importers destroying domestic industry: PBC

KARACHI: Pakistan Business Council (PBC) – the advisory forum of large corporate entities – has said that commercial importers are involved in massive under-invoicing and they are destroying the domestic industry. In its budget proposals for 2019/2020, the PBC recommended measures for documentation of economy to providing level playing field for domestic manufacturing. The PBC […]

by Faisal Shahnawaz

PBC resents restoration of final tax regime for commercial importers

Jan 26

Trade & Industry

PBC resents restoration of final tax regime for commercial importers

The business association representing multinational companies (MNCs), the Pakistan Business Council (PBC), has strongly criticized the proposed restoration of the Final Tax Regime (FTR) for commercial importers, urging the government to reconsider its decision. The PBC’s concerns were voiced in response to the Finance Supplementary (Second Amendment) Bill of 2019.

by Mrs. Anjum Shahnawaz