Oct 26

Pharma industry agrees to provide paracetamol at reduced prices

ISLAMABAD: Federal Minister Senator Mohammad Ishaq Dar on Wednesday said that the pharma industry agreed to provide paracetamol products at reduced prices. He said this during a meeting with heads of pharmaceutical companies involved in the production of paracetamol products, a Finance Ministry press release said. The meeting was also attended by the SAPM on […]

by Mrs. Anjum Shahnawaz

Special tax regime for pharma sector introduced

Jul 14

Budget 2022-2023, Taxation

Special tax regime for pharma sector introduced

KARACHI: A special sales tax regime has been introduced for pharmaceutical sector through Finance Act, 2022 by making amendments in Sales Tax Act, 1990. As per the special tax regime manufacture or import of substances registered as drugs under the Drugs Act, 1976 shall be subject to 1 per cent sales tax with the condition […]

by Faisal Shahnawaz

FBR forms committee to resolve pharmaceutical tax issues

Apr 20

Taxation, Top stories

FBR forms committee to resolve pharmaceutical tax issues

KARACHI: Federal Board of Revenue (FBR) on Wednesday constituted a committee for resolution of issues of pharmaceutical companies. The issues resolution committee will be headed by Chief Commissioner-Inland Revenue, Large Taxpayers Office (LTO), Karachi and comprising officers of FBR for resolution of issues of pharmaceutical companies. READ MORE: FBR allocates quota for industries in erstwhile […]

by Mrs. Anjum Shahnawaz

FBR introduces refund mechanism for pharma sector

Mar 7

Taxation

FBR introduces refund mechanism for pharma sector

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday introduced mechanism for payment of sales tax refund to pharmaceutical sector. In order to implement the mechanism the FBR issued SRO 383(I)/2022. The FBR amended Sales Tax Rules, 2006 through the instant SRO. The government withdrew sales tax exemption on drugs through Finance (Supplementary) Act, 2022 […]

by Faisal Shahnawaz

Drug pricing mum on adjustment in foreign currency movement: SBP

Mar 27

Corporate, Money & Banking

Drug pricing mum on adjustment in foreign currency movement: SBP

KARACHI: The present drug policy is silent on adjustment of prices under foreign currency movement, State Bank of Pakistan (SBP) said in its latest report. “The latest drug pricing policy does not say anything about the adjustment of prices under foreign currency movements. The policy becomes ineffective in mitigating the external risk, given the origin […]

by Faisal Shahnawaz