Business & Industry

Several Chinese ports are facing congestions as vessels due to call at Ningbo get diverted and cargo processing slows partly due to stricter disinfection measures called for by China’s “zero-tolerance” coronavirus policy. On Tuesday, more than 50 container vessels were queuing at Ningbo port, China’s second largest marine centre, Refinitiv data showed, up from 28 …

Congestion at Chinese Ports over China’s Zero Tolerance Covid-19 Policy Read More »

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 …

1st Ever Export of Mango under TIR Convention Read More »

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 …

Govt Imposes Additional 7.5% WHT on Electricity Bills Over Rs. 25,000 for Non-Filers Read More »

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 …

FBR Relaxes Conditions For Import/Export Customs Clearance Read More »

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 …

Govt Gives 10-year Tax Exemption To Zone Developers and Enterprises Read More »

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 …

Pakistan’s Exports Expected to Increase via Amazon Centre in Multan Read More »

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 …

President Alvi Orders FBR to Address Issues of Tax Declarants Under Amnesty Scheme Read More »