Pakistan to sign trade agreements wit...
KARACHI: Pakistan is going to sign trade agreements with Uzbekistan in July to explore over $90-billion worth of export potential in Central Asia in order to achieve an unprecedented exports target of $35 billion set for the fiscal year 2021-22. For the purpose of Central Asia connectivity, Prime Minister Imran Khan is leaving for Uzbekistan [...]
Gas crisis: Textile exporters warn of...
KARACHI: Textile makers and exporters on Saturday threatened to relocate their manufacturing units to other countries because of the gas supplies crisis in Karachi, hitting hard the industrial output. This decision came at the meeting of textile exporters held at the PHMA House Karachi on Saturday June 26, according to Jawed Bilwani, Chief Coordinator, Pakistan [...]
FBR seeks suggestions for changes in ...
LAHORE: The Federal Board of Revenue (FBR) has amended the Income Tax Rules 2002 to incorporate changes in the electronic return for salaried persons and sought objections and suggestions by June 18, 2021. The Board has informed the general public that objections or suggestions to be received from any person before the expiry date would [...]
Sales tax conundrum for online market...
In its attempt to digitize, document and bring the sellers and retailers in the tax ambit, the government has proposed in the federal budget FY22 that online marketplaces will have to register for GST collection from the sellers at 17 percent, bringing goods being sold through online platforms under the sales tax net and the [...]
Pakistan, IMF to discuss taxes next w...
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) are working to bridge their differences over quantum of new taxation measures amid the government’s willingness to increase sales tax rate on fertiliser to 10% and slap 17% tax on import of crude oil to generate Rs115 billion. There is also a proposal to tax interest income [...]
13 sectors exports post double-digit ...
ISLAMABAD: Pakistan’s exports of 13 sectors including value-added textiles posted double-digit growth in the 11 months of current fiscal year (11MFY21) compared to the same period a year ago, data compiled by the Ministry of Commerce showed on Friday. Growth in exports of value-added sectors contributed to an increase in overall exports from the sectors. [...]