Sales Tax 17% applied on Export Shipments from Pakistan

The government Tuesday abolished sales tax zero-rating regime for five export-oriented sectors i.e. textile, leather, carpets, sports goods and surgical goods and imposed 17 percent sales tax on items covered under SRO 1125(I)/2011. Senior FBR officials said that the FBR will generate revenue Rs 80-90 billion from imposition of sales tax on textile, leather, carpets, sports goods and surgical goods during 2019-20. “We have accepted the biggest challenge for timely payment of refunds to the textile sector by abolishing sales tax zero-rating regime for five export-oriented sectors. The abolition of…

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Russian Federation’s trade delegation visits PRGMEA

PRGMEA

KARACHI: Russian Federation’s Trade Representative Yury Kozlov and Deputy Trade Representative Ruslan Aliev visited Pakistan Readymade Garments Manufacturers and Exporters (PRGMEA) House. PRGMEA Chairman Shaikh Mohammad Shafiq welcomed the Russian mission. During the meeting, he presented an overview of Pakistan’s export of value-added textile to Russia and the potential of Pakistani cotton to meet Russian market demand, said a PRGMEA press release. Russian Trade Representative said that there was huge potential to enhance trade volume between Pakistan and Russia. He said that Russia had also offered its assistance to revive…

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Pakistan Customs plans crackdown on import, distribution of counterfeit products

KARACHI: Customs Enforcement South has launched a campaign against import, distribution and sale of counterfeited products in the country in a bid to support Intellectual Property Rights (IPR) and deter trade in counterfeit goods.Chief Collector Enforcement South Wasif Memon has advised the field formation to keep strict vigilance on the import of such goods as well as identify the places from where such goods are distributed and sold to the consumers. Collector Preventive Dr. Fareed Iqbal Qureshi has assigned Deputy Collector Muhammad Faisal to undertake a campaign against IPR violations.…

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Documents Required for Weboc Registration

As per updated rules from Govt. of Pakistan; for all imports and exports activities all foreign payment transaction must be made through Web Bases One Custom Account (WeBOC -ID)  registered firm/company Bank Account and without this condition commercial import export and personal goods other than the un-accopained will not be allowed for the custom clearing in Pakistan without Eletronic Import  Form (EIF) and Electronic Export Form (EEF). The requirement for the Web Based One Custom Account (WeBOC-ID) for the exporter and importer duly mentioned on the National Tax number and Sales Tax registration Number  of the…

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Shipping Alert! licenses of PIL, Pacific Delta Shipping to be cancelled

Ocean Shipments

Cargo delivery at Pakistan ports to be banned of PIL, Pacific Delta Evidence surfaces on licenses of PIL, Pacific Delta Shipping to be cancelled KARACHI: Evidence has surfaced on ban of cargo delivery at Pakistani ports of Pacific International Lines (PIL) and its agents in Pakistan, M/s Pacific Delta Shipping (Pvt) Ltd as Customs Preventive has started procedure to cancel their licenses under rules 603 (Q), 603 (R), 604 (Q) and 607 (E), others of SRO 1220 (I)/2015. Importers also lodged application to register FIR against these companies under sections…

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