Samsung has made a legal challenge with an Indian court seeking to cancel the $ 520 million tax demand related to the alleged classification of imported network equipment. The South Korean technology giant is competing for claims by Indian tax authorities that they classify a major component error used in mobile phone towers, thus avoiding … Read more
Islamabad: The growth in the manufacturing sector in Pakistan (LSM) is 1.8 % during the first seven months of the current fiscal year, indicating the ongoing challenges of the country’s industrial base. This contraction, which was reported by the Pakistani Statistics Office (PBS), reflects a negative trend in deepening in the main industries, which are … Read more
The General Directorate of Customs Evaluation in Karachi has updated customs values of 104 types of chocolate with branded brands of different origins. According to news reports, the new evaluation, issued by the ruling number of 1980 of 2025, will increase the values of these chocolate for the purpose of assessing duties and taxes at … Read more
IslamabadOn Monday, the federal government decided to import raw sugar (Shakkar) to stabilize the country’s sugar prices and provide relief to consumers. Shakkar will help reduce the country’s sugar prices, according to the government’s press statement here. Importing raw sugar will also help increase the production of sugar in the future as it can be … Read more
Pakistan has agreed to import Russian crude oil at a discounted price, following the agreement reached during the intergovernmental committee meeting in Moscow. News I mentioned. Federal Minister of Energy Sardar Owais Leghari led the Pakistani delegation to the meeting. The two sides decided to resume crude oil trade from January 2025, with Pakistan importing … Read more
The Federal Board of Revenue (FBR) has announced that more than 1,500 exporters are availing duty and tax-free import benefits under the Export Facilitation Scheme (EFS). This scheme, which simplifies procedures through single administrative documents, focuses on supporting exporters, especially SMEs. According to the FBR, manufacturers and exporters using the EFS are now required to … Read more