KARACHI, May 9, 2025 — Amid escalating geopolitical tensions in South Asia, global shipping companies have begun levying steep surcharges on cargo shipments to and from Pakistan, placing a growing burden on the country’s importers and exporters.
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COSCO Shipping Condemns U.S. Sanctions on China’s Maritime
China COSCO Shipping Corporation Limited strongly denounced the recent accusations and sanctions imposed by the United States targeting China’s maritime, logistics, and shipbuilding industries. In a detailed statement released on Monday, COSCO Shipping labeled the U.S. actions as discriminatory, baseless, and harmful to global trade and shipping stability.
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NLC, DP World Partner to Modernize Logistics in Pakistan
Islamabad, January 12, 2025 – The National Logistics Corporation (NLC) and DP World have announced a groundbreaking partnership to revolutionize logistics and delivery systems in Pakistan. This strategic collaboration is set to raise the bar for the country’s logistics industry, promising significant economic benefits and improved connectivity.
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Abu Dhabi and Dubai Ports Want to Invest in Pakistan: Minister
Karachi, January 12, 2025 – Federal Minister for Maritime Affairs, Qaiser Ahmed Sheikh, revealed on Saturday that major global players, including Maersk Line, Dubai Ports, and Abu Dhabi Ports, are keen on investing in Pakistan’s ports and shipping sector.
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Hutchison Ports Pakistan Launches 4th Year of Mangrove Initiative
Karachi, November 15, 2024 – Hutchison Ports Pakistan has launched the fourth year of its “Go Green” tree plantation initiative, aiming to plant 100,000 mangrove saplings in Sonmiani. This campaign, which began in 2021 in partnership with WWF-Pakistan, is set to reach a significant milestone by planting 500,000 mangroves across 250 hectares by 2025. The project underscores Hutchison Ports Pakistan’s commitment to the United Nations Sustainable Development Goals (SDGs), particularly those focused on environmental sustainability.
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Pakistan Assures Full Support for Maersk $2 Billion Investment
Islamabad, November 11, 2024 – The Ministry of Maritime Affairs has assured Maersk officials of its full support in facilitating the company’s operations and addressing any challenges that may arise, as Pakistan prepares for a landmark $2 billion investment from the Danish shipping giant.
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Hutchison Ports Pakistan Welcomes Largest Container Vessel
PkRevenue.com – Hutchison Ports Pakistan marked a historic milestone as it welcomed the maiden call of the CV MSC ANNA, the largest container vessel ever to berth in Pakistan.
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Port Qasim Shipping Activity Report for October 31, 2023
Karachi, October 31, 2023 – Port Qasim, a vital maritime gateway in Pakistan, witnessed busy shipping activity on Monday, with several ships engaged in the loading and offloading of various cargoes.
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Karachi Port Shipping Intelligence Report on August 3, 2023
Karachi, August 3, 2023 – The Karachi Port Trust (KPT) has released its latest Shipping Intelligence report, detailing the ongoing activities at the port.
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Tax on shipping, air transport income of non-residents
ISLAMABAD: Section 7 of Income Tax Ordinance, 2001 deals with tax chargeability on shipping, air transport income of non-residents.
The Federal Board of Revenue (FBR) issued the updated Income Tax Ordinance, 2001. The Ordinance incorporated amendments brought through Finance Act, 2021.
Section 7: Tax on shipping and air transport income of a non-resident person.— (1) Subject to this Ordinance, a tax shall be imposed, at the rate specified in Division V of Part I of the First Schedule, on every non-resident person carrying on the business of operating ships or aircrafts as the owner or charterer thereof in respect of –
(a) the gross amount received or receivable (whether in or out of Pakistan) for the carriage of passengers, livestock, mail or goods embarked in Pakistan; and
(b) the gross amount received or receivable in Pakistan for the carriage of passengers, livestock, mail or goods embarked outside Pakistan.
(2) The tax imposed under sub-section (1) on a non-resident person shall be computed by applying the relevant rate of tax to the gross amount referred to in sub-section (1).
(3) This section shall not apply to any amounts exempt from tax under this Ordinance.
Section 7A. Tax on shipping of a resident person.—(1) In the case of any resident person engaged in the business of shipping, a presumptive income tax shall be charged in the following manner, namely:—
(a) ships and all floating crafts including tugs, dredgers, survey vessels and other specialized craft purchased or bare-boat chartered and flying Pakistan flag shall pay tonnage tax of an amount equivalent to one US $ per gross registered tonnage per annum;
(b) ships, vessels and all floating crafts including tugs, dredgers, survey vessels and other specialized craft not registered in Pakistan and hired under any charter other than bare-boat charter shall pay tonnage tax of an amount equivalent to fifteen US cents per ton of gross registered tonnage per chartered voyage provided that such tax shall not exceed one US $ per ton of gross registered tonnage per annum:
Explanation.—For the purpose of this section, the expression “equivalent amount” means the rupee equivalent of a US dollar according to the exchange rate prevalent on the first day of December in the case of a company and the first day of September in other cases in the relevant assessment year; and
(c) A Pakistan resident ship owning company registered with the Securities and Exchange Commission of Pakistan after the 15th day of November, 2019 and having its own sea worthy vessel registered under Pakistan Flag shall pay tonnage tax of an amount equivalent to seventy five US Cents per ton of gross registered tonnage per annum.
(2) The provisions of this section shall not be applicable after the 30thJune, 2030.”
(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)