FBR imposes 25% sales tax on imported luxury items
March 9, 2023
5:54 am
The Federal Board of Revenue (FBR) has imposed a 25% sales tax on the import and local supply of a variety of luxury goods.
The Federal Board of Revenue (FBR) has imposed a 25% sales tax on the import and local supply of a variety of luxury goods.
Honda Atlas Cars (Pakistan) Ltd will close its production from March 9 to March 31, 2023, since the company’s supply chain has been badly impacted by Pakistan’s current economic crisis.
Although the country faces a historic economic crisis, Pakistan Peoples Party (PPP) Co-chairman Asif Ali Zardari stated on Tuesday that the country’s foreign exchange reserves would “someday” reach $100 billion.
As demand slows against the backdrop of a faltering economy, Tesla Inc (TSLA.O) has lowered pricing for its electric vehicles in the United States and Europe, doubling down on a discount push it launched in Asia.
On Monday, the price of gold fell below Rs200,000 a tola as investors turned away from the yellow metal as the Pakistani rupee strengthened against the dollar for a third straight session.
DOHA: The Amir of Qatar, Sheikh Tamim bin Hamad Al Thani, met with Pakistani Prime Minister Shehbaz Sharif on Sunday to discuss a wide range of topics that benefited both countries. He reaffirmed his commitment to maintaining Qatar’s full cooperation and support for Pakistan’s development and progress agenda.
Due to several manufacturers ceasing operations in Pakistan, the country’s mobile phone industry is currently experiencing a severe setback. One of the primary factors in the companies’ decision is the non-opening of Letters of Credit (LCs).
KARACHI: Around noon on Friday, the Pakistani rupee had a significant comeback versus the US dollar, rising 4.5%, or more than Rs12, to Rs273.
The first of the nine ships bringing 50,000 metric tonnes of wheat from Russia to Pakistan arrived at the Gwadar port, according to Pasand Khan Buledi, chairman of the Gwadar Port Authority (GPA).
Nestlé Pakistan Ltd (Nestlé), a major manufacturer of consumer goods, reported a record profit of more than Rs 15 billion in 2022.
The Federal Board of Revenue (FBR) collected Rs527.20 billion in tax in February, representing a 17% increase over the tax collection body’s objective.
On the interbank market on Thursday, the Pakistani rupee plunged drastically by Rs18.74 versus the dollar, reaching a record high of Rs284.85 in morning trade, according to information provided by the Exchange Companies Association of Pakistan (Ecap).
