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1. Revenue collection up 27pc in Feb
(Highlights/Business News)
... month was mainly driven by increase of 40.69pc in the income tax collection, followed by customs duty 30.72pc, sales tax 18.20pc, and federal excise duty 13.94pc. In the first eight months (July-Feb) ...
Saturday, 28 February 2015
Monday, 02 June 2014
3. 16 MoUs signed at business meeting
(Highlights/Business News)
... Silk Route. It also emphasised on acceding to international conventions, including the Customs Convention on the International Transport of Goods (TIR Convention 1975). Afghanistan and CARs have  ...
Friday, 18 April 2014
4. ECC approves Rs1.6 billion Ramazan package
(Highlights/Business News)
... s customs duty and sales tax on import of gold is zero. Therefore, import authorisation under the aforementioned savings clause is cancelled if the exporter fails to honour the export commitment with ...
Friday, 18 April 2014
5. Bridging the tax gap
(Highlights/Business News)
... schemes. There is an enormous revenue loss due to exemptions, allowances and deductions from income tax, sales tax and customs duty, which was Rs887.5 billion or equal to 3.9pc of GDP in fiscal year ...
Monday, 07 April 2014
Tuesday, 18 March 2014
7. ECC takes politically tough decisions
(Highlights/Business News)
...  fiscal year. The IMF was also given an assurance regarding finalisation of the three-year phase-wise withdrawal plan of tax exemptions worth Rs400bn under income tax, sales tax and customs ...
Monday, 10 February 2014
8. Radical change in export regime to Kabul
(Highlights/Business News)
... given to exporters to fulfill any existing export contract to Afghanistan or beyond in rupees. Through the same notification, the government allowed export of all products from Ghulam Khan Customs ...
Thursday, 06 February 2014
9. Trade issues discussed with India
(Highlights/Business News)
... urity arrangements at customs bonded warehouses at Amritsar and Lahore.  ...
Thursday, 16 January 2014
10. Rs69bn gap in July-Dec revenue.
(Highlights/Business News)
...  recorded in collection of customs duties as revenue collection stood at Rs110.088bn this year in July-Dec 2013 as against Rs107.378bn over the corresponding months of last year. Annual revenue targe ...
Thursday, 09 January 2014
11. Govt finalises SRO withdrawal plan
(Highlights/Business News)
Saturday, 28 December 2013
12. Hybrid cars to cost kitty over $5m
(Highlights/Business News)
... tax (GST) and 37.5pc customs duty. After deducting 43pc duties and taxes, the price of Prius comes to Rs2.5 million or $24,000 based on one dollar valued at Rs106. One can easily calculate the ...
Saturday, 28 December 2013
13. Trade, industry laud GSP plus status
(Highlights/Business News)
... t so far Pakistan is lagging behind and around 1,462 tariff lines are not matched and it will also have to update its customs books. Pakistan Hosiery Manufacturers Association (PHMA) chairman Shahz ...
Friday, 13 December 2013
14. Strike causes congestion at ports
(Highlights/Business News)
... . Transporters say that they were facing issues and many are related with the provincial government, including those of police and others are related with the federal government, such as customs, N ...
Saturday, 16 November 2013
15. Govt earned Rs595bn from oil, gas in FY13
(Highlights/Business News)
ISLAMABAD: The government collected about Rs595 billion in different taxes on oil and gas in 2012-13, accounting for almost 31 per cent of total revenues collected by the Federal Board of Revenue ...
Saturday, 31 August 2013
...  implement measures to simplify customs clearance procedures, cut operational fees and facilitate the exports of small and medium-sized private enterprises. Mr Hongbin added that as the impact of thes ...
Thursday, 22 August 2013
KARACHI: At least 150,000 ISAF containers are expected to pass through Pakistan Customs as NATO / ISAF forces depart from Afghanistan, sources told the News on Wednesday Sources ...
Thursday, 22 August 2013
(Highlights/Business News)
Monday, 12 August 2013
...  with 1,027 bags of rice was flagged by CBP agents at the Port of Chicago, and the US Customs and Border Protection (CBP) agriculture specialists discovered Khapra beetles, an invasive species, in th ...
Monday, 05 August 2013
ISLAMABAD: A shipment of rice from Pakistan was refused entry into the United States after US Customs and Border Protection (CBP) agriculture specialists discovered Khapra beetles, an invasive species, ...
Thursday, 01 August 2013
Some Collectors of Customs on Tuesday rectified an error by collecting 16 percent standard rate of Federal Excise Duty (FED) on the import of edible oil instead of 17 percent. It is learnt that the customs ...
Wednesday, 24 July 2013
22. Foreign trade figures
(Highlights/Business News)
... d on exchange record data, which depend on the actual receipt and payment of foreign exchange, whereas the PBS records data on the physical movement of goods (customs record). Further more, SBP repor ...
Monday, 22 July 2013
23. Importers face problems in cargo clearance
(Highlights/Business News)
Wednesday, 17 July 2013
... ces. As a result the government may lose both sales tax and customs duty due to under-invoicing on imported items. On the other hand the general public will face more inflation and prices of all commod ...
Monday, 15 July 2013
25. Slow trading on cotton market
(Highlights/Business News)
Friday, 28 June 2013
... ormal trade is to make easy the trade procedures and processes. She said customs approvals should be automated with provision of single window facility and helpdesks at customs check points to faci ...
Wednesday, 26 June 2013
MEXICO CITY: Mexican customs officials have quarantined 3,000 tonnes of rice from Pakistan after they discovered that the shipment was contaminated by a tiny beetle that destroys grain products, officials ...
Wednesday, 26 June 2013
Saturday, 15 June 2013
... relating to Non-Tariff Barriers said that two governments signed 3 agreements viz. Customs Cooperation, Agreement on Mutual Recognition & Redressal of grievances which will be implemented after completion ...
Wednesday, 12 June 2013
30. Govt gives Rs239.5b tax exemptions
(Highlights/Business News)
... year. Similarly the cost of customs exemptions has projected to be Rs 119.706 billion against Rs 112.012 billion of the previous year. The break-up of estimated revenue loss in income tax expenditures ...
Wednesday, 12 June 2013

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