Finance Bill 2019: GD filing limit reduced to 10 days

KARACHI: The government has reduced the goods declaration filing limit from 15 days to 10 days by proposing amendment to Section 79 of Customs Act, 1969. Read more »

Finance Bill 2019: reduced duty rates proposed for various imported goods

KARACHI: The government has announced reduction in customs duty on import of various goods. Read more »

Finance Bill 2019: duty exemptions on various imported goods proposed

KARACHI: The government has proposed exemptions from customs duty on import of various goods through Finance Bill 2019. Read more »

Finance Bill, 2019: 10 years imprisonment for money laundering through foreign trade

KARACHI: The government has taken harsh stance on money laundering through foreign trade and proposed 10 years imprisonment for persons involved besides confiscating consignments. Read more »

Customs law amended to recover unpaid amount from exporters

KARACHI: The government has put a check on exporters related to unpaid amount of duty and taxes at the time of export clearance and amended law to recover the same. Read more »

FBR empowered to impose fee, service charges under Customs laws

KARACHI: Federal Board of Revenue (FBR) has been empowered to impose service charges and date of determination of rate of import duty under Customs Act 1969. Read more »

Collectors’ power to determine customs values withdrawn

KARACHI: The government has withdrawn the power of Collector of Customs in determination of customs value on his own motion through Finance Bill 2019. Read more »

Non-ATL persons to pay double amount of withholding tax on prize bond winning

ISLAMABAD: The government has increased withholding tax by 100 percent on winning of prize bonds for persons not on Active Taxpayers List (ATL). Read more »

Commissioners IR empowered to conduct audit of taxpayers every year

KARACHI: Commissioners of Inland Revenue have been empowered to conduct audit of a registered taxpayer every year after removal of restriction through Finance Bill 2019. Read more »

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. Read more »

Finance Bill 2019: Revised CGT rates on sale of securities

ISLAMABAD: The Finance Bill 2019 has proposed revised rates of Capital Gain Tax (CGT) on sale of securities under Section 37A of the Income Tax Ordinance, 2001. Read more »

Finance Bill 2019: severe punishment proposed for offshore tax evasion

ISLAMABAD: The government has proposed severe punishment for tax evasion through Finance Bill 2019. Read more »