A parliamentary panel on Wednesday directed the finance secretary to hold a meeting with all stakeholders to probe why PayPal is not operating in Pakistan. AP/File
ISLAMABAD: A parliamentary panel on Wednesday directed the finance secretary to hold a meeting with all stakeholders to probe why PayPal is not operating in Pakistan.
The panel also recommended that there should be an exemption in custom taxes on import of especially designed mobile phones for visually-impaired people.
A meeting of the Senate Standing Committee on Finance Revenue and Economic Affairs was held at the Parliament House with Senator Talha Mahmood in the chair where the issue was discussed. People are unable to take full advantage of Amazon because PayPal does not operate in Pakistan, committee members pointed out.
National
April 28, 2021
ISLAMABAD: To facilitate the exporters of confectionery products, the Federal Board of Revenue (FBR) has substantially increased the customs duty drawback on the exports of confectionery items with effect from April 26, 2021.
The Federal Board of Revenue (FBR) has amended the standard duty drawback notification SRO. 212(I)/2009 through a notification issued here on Tuesday.
According to an announcement of the Federal Board of Revenue, “In line with Prime Minister’s Initiative of ‘ Make in Pakistan, FBR has issued SRO 520(I)/2021 dated 26.4,2021 revising duty drawback rates upwards for confectionery items to promote their exports”.
As per SRO 520(I)/2021, the extent of repayment of customs duty on the exports of biscuits has been increased to 0.54 percent of the Freight on Board (FOB) value.
National
April 28, 2021
ISLAMABAD: To facilitate the exporters of confectionery products, the Federal Board of Revenue (FBR) has substantially increased the customs duty drawback on the exports of confectionery items with effect from April 26, 2021.
The FBR has amended the standard duty drawback notification SRO. 212(I)/2009 through a notification issued here on Tuesday. According to an announcement of the FBR, “In line with Prime Minister’s Initiative of ‘ Make in Pakistan, FBR has issued SRO 520(I)/2021 dated 26.4,2021 revising duty drawback rates upwards for confectionery items to promote their exports”.
As per SRO 520(I)/2021, the extent of repayment of customs duty on the exports of biscuits has been increased to 0.54 percent of the Freight on Board (FOB) value. The repayment of customs duty would be 2.56 percent of the FOB value on the exports of hard boiled candies.
Rs 1 crore worth of gold seized at RGI airport
According to official sources, based on specific inputs, officials of the Directorate of Revenue Intelligence seized the gold and detained the passenger.
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HYDERABAD: Airport officials seized gold worth around Rs 1 crore in two different operations at the RGI airport on Monday. In the first case, the passenger, who had arrived from Dubai, had concealed gold biscuits weighing 2.3 kg in a life jacket provided on the aircraft.
According to official sources, based on specific inputs, officials of the Directorate of Revenue Intelligence seized the gold and detained the passenger. Officials are still interrogating the passenger for further details about the smuggling racket.