Lahore to Get a Private Sector Technology Park

The Area Development Plan rules that were recently promulgated by Lahore Development Authority (LDA) are gaining traction. These rules have allowed developers to plan innovative large projects along the main arteries of Lahore, which is curbing down on illegal and unsightly strip development that has been seen otherwise in the metropolitan so far. In a recent …

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MOIT and NITB to Launch Pakistan’s First International Payment Gateway

The government is planning to launch Pakistan’s first-ever “International Payment Gateway (IPG)” to advance the nation’s digital infrastructure to provide ease of doing business to digital users globally. The Ministry of Information Technology and Telecommunication (MOIT&T), and the National Information Technology Board (NITB), under the auspices of the government of Pakistan, will launch Pakistan’s first-ever IPG …

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FBR Abolishes Additional Customs Duty on Import of Electric 2-3 Wheelers

The Federal Board of Revenue (FBR) has abolished additional customs duty on the import of electric vehicles 2-3 wheelers Completely Built Unit (CBU) condition; electric auto rickshaw, electric motorcycle, and 3-wheeler electric-loader up to June 30, 2025. In this regard, the FBR has issued a notification here on Wednesday to amend S.R.O. 572(I)2020. Under the …

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Govt Announces New Ordinance to Extend Tax Amnesty for Construction Sector

The government has promulgated the Income Tax Amendment Ordinance, 2021 to change the dates for the extension of the tax amnesty scheme for the construction sector. The Income Tax Amendment Ordinance 2021 has amended the relevant provisions of the Income Tax Ordinance, 2001 to extend the deadlines for the developers and builders seeking immunity from …

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Bank Branches Should Accept Taxpayers’ Cheques of Different Banks: SBP

State Bank of Pakistan (SBP) has directed banks to entertain taxpayers if they deposit the cheque of different banks to facilitate them with the convenient payment option available in the banking system. The banking regulator reiterated that banks shall ensure that all their branches are accepting the taxes and duties through the ADC mechanism and that …

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