Business & Industry

The Pakistan Customs has processed the first fresh mango (White Chaunsa) consignment for export to Moscow, Russia under the TIR Convention. According to the statement, this was one of the first endeavors to introduce Pakistani fresh fruits and indigenous goods to Russia. It will help the Pakistani traders to capture markets not only in Russia […]

Non-filer consumers who use more than Rs. 25,000 worth of electricity per month will now have to pay an additional 7.5 percent tax on electricity bills. Lahore Electric Supply Company (LESCO) announced through its website that the government had implemented a new withholding tax (WHT), effective from July 1, 2021. The statement on LESCO’s website

The Federal Board of Revenue (FBR) has decided to relax conditions for importers for obtaining ‘unique user identifiers’ under the Customs Computerized System used for clearances of imports and exports. The FBR has issued S.R.O936(I)/2021 to amend Customs Rules, 2001 here on Monday. Under the proposed rules, the Federal Board of Revenue (FBR) will not

The federal government has given a 10-year tax exemption to Zone developers and enterprises through passing the Special Technology Zone Authority Act, 2021, from the National Assembly. Documents state that the government has given all kinds of income tax exemption under the income tax ordinance, including the tax on profits and gains, income tax, turnover

Pakistan is establishing its first-ever Amazon Fulfillment and Facilitation Centre in Multan after Eid ul Azha to allow small and medium enterprises (SMEs) businesses to market their products worldwide and boost the country’s exports. According to the Pakistan Bureau of Statistics (PBS), Pakistan’s merchandise exports in the fiscal year 2020-21 grew by 18 percent from

The President of Pakistan, Dr. Arif Alvi, has issued an order in favor of the declarants of the Tax Amnesty Scheme 2019 (assets declaration scheme) who had deposited a tax of billions of rupees under the Tax Amnesty Scheme 2019 (assets declaration scheme) but had been unable to upload their declarations on the deadline of

PayPal is a US-based electronic payment system that acts as a third party for financial payments between two parties. It has a strong position in the online fund transferring market. However, unfortunately, it is not working/coming in Pakistan despite a lot of demand and effort. There are several buzzwords in the market about the absence

After days of negation, Pakistan and Russia signed Heads of Terms (HoT) of shareholders’ agreement for the construction of the $2.5 billion Pakistan-Stream Gas Pipeline (PSGP) project. It will be nearly 42-to-56 diameter and 1,100 kilometers long pipeline from Port Qasim to Kasur and is scheduled to be completed by 2023. Reportedly, there were many

After days of negation, Pakistan and Russia signed Heads of Terms (HoT) of shareholders’ agreement for the construction of the $2.5 billion Pakistan-Stream Gas Pipeline (PSGP) project. It will be nearly 42-to-56 diameter and 1,100 kilometers long pipeline from Port Qasim to Kasur and is scheduled to be completed by 2023. Reportedly, there were many