FBR sends notices to parents paying Rs 2 lakh per year

LAHORE: The Federal Board of Revenue (FBR) is desperately looking for potential taxpayers these days and is aggressively digging the record of Pakistani citizens who, at some stage, have come under prominent sections of the Income Tax Ordinance. According to media, recently, the tax collecting agency has dispatched letters to parents, who are paying an […]

Tax rate for token payment & registration of cars not changed

KARACHI: Federal Board of Revenue (FBR) has strongly rebutted the perception that rate of tax has been changed in the Financial Budget-2019 for the token payment and registration of cars. After verification it was noticed that this misperception was due to a typographical mistake which was rectified in the Finance Act-2019. The rate of tax […]

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, […]

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 […]

Pakistan Customs plans crackdown on import, distribution of counterfeit products

under-invoicing cases to be processed under money laundering laws

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 […]