Banks to remain close on July 03

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that all banks and development financial institutions will remain closed for public dealings on July 3, 2017.

NTC imposes 24.04 percent anti-dumping duty on CC steel billets on China import

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KARACHI: National Tariff Commission (NTC) has imposed 24.04 percent anti-dumping duty on continuous casting steel (billets) from China for a period of five years effective from June 22, 2017.

FBR imposes up to 60pc regulatory duty on vehicle imports

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ISLAMABAD: Federal Board of Revenue (FBR) has imposed up to 60 percent ad valorem regulatory duty on import of luxury vehicles. The FBR issued SRO 504(I)/2017 on Wednesday to implement the regulatory duty on various goods and vehicles.

Banks to remain open for extended hours on June 30 for revenue collection

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KARACHI: State Bank of Pakistan (SBP) on Wednesday announced that commercial banks will remain open for extended hours on June 30, 2017 to facilitate the collection of duty and taxes.

Inland Revenue offices to work extended hours before, after Eid holidays for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for collection of revenue before and after Eid holidays in order to achieve revenue collection target of Rs3,521 billion for current fiscal year.

SBP allows banks to outsource storage of account opening forms

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KARACHI: State Bank of Pakistan (SBP) has allowed banks to outsource storage / archival of account opening forms (AOF) under amended framework for risk management in outsourcing arrangements by financial institutions issued on Tuesday.

Dignitaries of UAE, Qatar and Bahrain allowed duty free imports

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ISLAMABAD: The government of Pakistan has allowed duty free imports by dignitaries of UAE, Qatar and Bahrain, which includes household articles and personal effects including vehicles and goods for donation to projects established in Pakistan.

FBR clarifies tax treatment of Islamic financial institutions

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ISLAMABAD: Federal Board of Revenue (FBR) has issued clarification regarding interpretation of certain provisions of the income tax laws in the context of Islamic banking.

NCCPL to collect monthly capital gain tax on June 29

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KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that amount of Capital Gain Tax (CGT) for the month of May 2017 will be collected on June 29, 2017.