Business & Industry

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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Kamyab Jawan Youth Entrepreneurship Scheme (YES)

Introduction Prime Minister’s ‘Kamyab Jawan – Youth Entrepreneurship Scheme’ (YES), for young entrepreneurs and existing SME businesses, is designed to provide subsidized financing for unleashing the entrepreneurial potential of youth and creating employment opportunities. Loan Amount Markup Security/Guarnatee Own Contribution/Equity Loan Period/Duration Loan Purpose Loan Amount Category 1: Upto Rs. 10 Lac Category 2: 10 …

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