Ban import of finished items & allow all import in CKD: NKATI Karachi, June 10, 2020: Capt. A Moiz Khan, patron-in-chief, North Karachi Association of Trade and Industry (NKATI) and President Naseem Akhtar have suggested the government to impose sales tax at retail stage instead of manufacturers and industries in budget 2020-21 and urged to…
Karachi, June 02, 2020: The value added textile export sector has reached to the verge of disaster due to severest ever liquidity crisis in the history of Pakistan caused due to imposition of 17 percent sales tax in last budget whereby liquidity worth billions of rupees has been stuck up with the Government. Last year,…
CNIC condition should be deferred for 6 months due to COVID-19 Pandemic: Amin Yousuf Balgamwala Karachi, March 30, 2020: Pakistan Chemicals & Dyes Merchants Association (PCDMA) chairman and former director Karachi Stock Exchange Amin Yousuf Balgamwala has protested against notices sending to commercial importers and demanded to withdraw all notices. In a statement, chairman PCDMA…
Karachi, January 18, 2020: The FBR issued Sales Tax General Order [STGO] 01 of 2020 dated 16th January 2020, whereby it has clarified the anomalies surfaced due to amendments made in Section 73 of STA through Tax Laws (Second Amendment) Ordinance 2019, the main purpose of which was to bring major distributors/retailers into documented regime….
Karachi, July 12, 2019: Yousuf Yaqoob, Chairman, Pakistan Weaving Mills Association (PWMA) has criticized the imposition of 17 percent sales tax on domestic weaving industry. According to PWMA Chairman, the imports of yarn without payment of sales tax by the export-oriented units (EOUs) through Indemnity Bonds and DTRE for exports will jeopardize the existence of…