Petroleum products import increases by 30.35pc to $11.44 billion during July – April

ISLAMABAD: The imports of petroleum products increased by 30.35 percent during July – April 2017/2018 owing to rising international oil prices.

Textile exports grow to $11.13bn in 10 months

ISLAMABAD: Country’s textile exports have increased by 8.13 percent to $11.13 billion during July – April 2017/2018 as compared with $10.29 billion in the corresponding period of the last fiscal year.

FBR promotes IT cadre officials to BS-17

ISLAMABAD: Federal Board of Revenue (FBR) has promoted officials of IT Cadre to BS-17 as Assistant Director (MIS) on regular basis with immediate effect.

Customs Intelligence announces auction of vehicle on May 29

ISLAMABAD: The Directorate of Customs Intelligence and Investigation, Lahore has announced auction of confiscated vehicles on May 29, 2018 to be held at State Warehouse of the Directorate.

Customs restricts access to examination, port area

KARACHI: Pakistan Customs has restricted the access of importers and customs agents into examination area for the security of goods and the port area.

No recovery from taxpayers until ADRC decision

KARACHI: Finance Act 2018 has granted stay against recovery till decision in a dispute where Alternate Dispute Resolution Committee (ADRC) is formed.

10pc tax imposed on gain on disposal of assets outside Pakistan

KARACHI: A 10 percent rate of tax has been introduced on gain on disposal of assets outside Pakistan.
The finance bill had proposed 15 percent rate of tax but in the final the rate has been reduced to 10 percent.

MCC Preventive announces auction of vehicles on May 22

KARACHI: Model Customs Collectorate (MCC) Preventive has announced auction of confiscated vehicles on May 22, 2018 to be held at State Wareouse-III, Kemari, behind KPT Fire Brigade Stations/Masjid Rehmat Opposite PICT Gate, Kemari Karachi.

FED increased on all three tiers of cigarettes

KARACHI: The government has increase federal excise duty in all the three tiers in order to discourage use of cigarettes. The national assembly on the other day approved the finance bill 2018 and enhanced the rates even proposed in the budget.

Commercial importers demand of restoring FTR rejected

KARACHI: The government has finally rejected the demand of commercial importers for restoring final tax regime (FTR) and excluding them from audit.