FBR updates, income tax, budgets and markets for Pakistan
17 articles
FBR Reduces Additional Customs Duty on Import of Agriculture Tractors. The Federal Board of Revenue (FBR) has announced to reduce additional customs duty from 35 per cent to 15pc on the import…
Government Lifts Ban on Import of Luxury Items:. Here is a good news for importers in Pakistan that Government on Friday lifted ban on all imports of luxury and non-essential items. This…
Surcharge Imposed for Clearance of Banned Consignments Government has allowed release of banned consignments subject to imposition of 15% surcharge. This is in terms of paragraph 20 of the Import Policy Order,…
The Pakistan Single Window system started by rolling out in July 2021 with Phase 1 estimated for completion in June 2022. Pakistan Single Window (PSW) is presently have started and offering: More…
Information Minister Marriyum Aurangzeb announced on Thursday that the Pakistan bans Imports of 38 non-essential luxury items under an “emergency economic plan”. She made the announcement while addressing a press conference in…
Information Minister Marriyum Aurangzeb announced on Thursday that the government has imposed a ban on the import of 38 non-essential luxury items under an "emergency economic plan". She made the announcement while…
The Federal Board of Revenue (FBR) has introduced a mandatory requirement of six documents for the claim of duty drawbacks on local supplies, free of duty imports, and taxes to avoid any…
Pakistan Single Window (PSW) is a newly launched trade system, which provides a facility to parties involved in trade and transport to lodge standardized information and documents with a single entry point…
Directorate General of Customs Valuation Karachi has increased customs values of the accessories of the Chinese-origin mobile phone accessories for correct assessment of duties and taxes at the time of import clearance.…
Pakistan’s current account balance reached at a deficit of $1.85 billion in fiscal year 2020-21. Due to jump in imports on account of rise in crude oil prices and vaccine arrivals. The…
The Federal Board of Revenue (FBR) released draft rules for new Export Facilitation Scheme 2021. FBR also called for comments on this new export scheme from industry, exporters and other stakeholders. The…
The proposal, seeks to cut import duties and taxes on new imported cars by up to 63% and cut down them by nearly 7% for locally made cars. The proposal includes eliminate…
The FBR proposed amending the Customs Rules 2001 in a notification issued here on Friday. According to SRO.201 (I) / 2021, "tourist" means "a person not normally resident in Pakistan, who enters…
Rupee Currency has appreciated by Rs 1.4 against the dollar since the beginning of February. The rupee appreciated by Rs 0.25 against the US dollar in the inter bank market on Friday…
This Notification shall take effect from the 1st day of October, 2020 and shall remain in force up to the 30 th day of June, 2021.
Weboc is a computerized system that provides customs clearance for import and export of goods. Developed by PRAL. It's login and Password which is issued after completion of a series of procedures.…