SECP issues draft regulations for valuers of immovable properties, other goods


ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Monday issued draft regulations for registration and providing services of valuations for immovable properties and other goods, plants and machinery.

RTO-II Karachi establishes units for identifying new taxpayers


KARACHI: Regional Tax Office (RTO) – II Karachi has notified jurisdictions for broadening of tax base (BTB) for bringing classes of taxpayers into tax net. The officers will only exercise jurisdiction orders against persons not having NTN/STRN/FTN holder or taxpayers not registered.

FBR amends sales tax on import of finished textile, leather goods


ISLAMABAD: Federal Board of Revenue (FBR) has amended SRO 1125(I)/2011 and notified six percent sales tax and two percent value addition tax on import of finished goods of textile and leather sector ready to use by general public.

Out of pocket expenses not excluded from taxable services: SRB


KARACHI: Sind Revenue Board (SRB) has said that out of pocket expenses charged or collected by a service provider in relation to provision of service chargeable to tax on the basis of gross amount of consideration will not be excluded from the value of taxable services.

KCCI demands withdrawal of imposed regulatory duty on 731 items


KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has slammed imposition of regulatory duty on import of 731 items and has demanded immediate withdrawal of unjust duty imposed on essential items and industrial inputs, said in a meeting here on Monday.

Additional 19.15pc anti-dumping duty imposed on steel bar import from China


ISLAMABAD: The National Tariff Commission (NTC) has imposed a definitive anti-dumping duty of 19.15 percent on import of deformed concrete reinforcing steel bars (rebars) into Pakistan from China, notification issued on Monday.

Restrictions imposed on import of 581 items through SRO 1067


ISLAMABAD: The government has imposed restriction on import of 581 food items in order to reduce import bill during the current fiscal year. An Statutory Regulatory Order (SRO) 1067(I)/2017 has been issued to implement the restriction.

Country spends $333.7 million on import of mobile phones, telecom apparatus in July-Sept


KARACHI: The country has spent foreign exchange worth $333.7 million on import of mobile phones and other telecom apparatus in first three months of current fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Saturday.

Import of CBU vehicles surges by 44.57pc in first quarter of FY18


KARACHI: Import of completely built up (CBU) vehicles has surged by 44.57 percent in first quarter of current fiscal year due to high demand in the local market.

Parliament approval must for imposing regulatory duty


LAHORE: The All Pakistan Business Forum has rejected the imposition of additional regulatory duty on import, saying the government neither can impose any duty nor enhance taxes without the approval of the parliament. The regulatory duty was imposed by the government on 797 items including industry raw material without taking the business community on board who are the real stakeholders.