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Post-Panamax to get berths next year
KARACHI, June 14: Federal Minister for Ports and Shipping Senator Kamran Michael said on Friday that the country would start accommodating large vessels of Post-Panamax generation by the end of next...
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Higher Sindh budget outlay
WITH expected federal transfers of Rs409 billion, Sindh is likely to increase the next year’s budget outlay to Rs600 billion from the current Rs570.81 billion. The federal receipts will include Rs333...
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Feeble attempt to broaden tax base in Sindh
KARACHI, June 17: The Sindh government made a feeble attempt in the 2013-14 budget to broaden the provincial tax base by including several new service providers under the sales tax regime. Sindh Chief...
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Reluctant tax collector
SINDH, which has a high growth potential, could have presented a deficit-free budget for the next fiscal year, if revenue initiatives had been taken to effectively tax all categories of income,...
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Changes in IT laws may not help realise higher revenues
KARACHI, June 25: The government in the budget 2013-14 has proposed major amendments in Income Tax Ordinance 2001, which may be difficult for the FBR field formations to implement. According to tax...
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Custom agents threaten strike
KARACHI, June 27: The Karachi Customs Agents Association (KCAA) has threatened to go on an indefinite strike next week against the issuance of show-cause notices to its 275 members by the customs,...
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Industry slams sales tax on retail
KARACHI, June 29: The industry leaders have raised objections over government decision to make it mandatory upon manufacturers to charge sales tax on retail price at the time of supply of finished...
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Importers urge FBR to cut tax rate
KARACHI, July 3: Importers have urged the Federal Board of Revenue (FBR) to review the high incidence of taxes on regular imports under the new duty regime which is likely to encourage smuggling. The...
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Withholding agents to file two returns
KARACHI, July 4: All sales tax registered persons have become income tax withholding agents from the new fiscal year, starting on July 1, 2013, and would have to file two statements every month on or...
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Rice export target missed
KARACHI, July 5: The country failed to achieve rice export target during the out-going fiscal year (2012-13) on exporting around 3.489 million metric tonnes or 6pc less as against 3.724 million metric...
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