Search results
Results from the WOW.Com Content Network
Import duty. Custom duties are levied according to the rates given in the First Schedule, which includes: Goods imported to Pakistan. Goods purchased in bond from one custom station to another. Goods brought from a foreign country to any customs station that are trans-shipped or transported without the payment of duty to another customs station.
Previously known as the Customs & Excise Group, it was re-classified as Pakistan Customs Service in November 2010, when the responsibilities of sales tax and federal excise were taken away and a new occupational service was created to collect Sales Tax, Federal Excise, and Income Tax, named as Inland Revenue Service (IRS).
A customs declaration is a form that lists the details of goods that are being imported or exported when a citizen or visitor enters a customs territory (country's borders). [ 1 ] Most countries require travellers to complete a customs declaration form when bringing notified goods (alcoholic drinks, tobacco products, animals, fresh food, plant ...
The trade deficit for the fiscal year 2013/14 is $7.743 billion, exports are $10.367 billion in July–November 2013 and imports are $18.110 billion. Pakistan's exports continue to be dominated by manpower export in the subcontinent, cotton textiles and apparel. Imports include petroleum and petroleum products, chemicals, fertilizer, capital ...
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.
South Asian Free Trade Area. The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration. [1] One of the major goals was to reduce customs ...
2024. The China–Pakistan Free Trade Agreement (CPFTA) is a free trade agreement (FTA) between the People's Republic of China and the Islamic Republic of Pakistan that seeks to increase trade and strengthen the partnership between the two countries. [1][2] Earlier agreements in the economic and trade relationship include the Preferential Trade ...
The Pakistan Single Window (PSW) stands as a prominent undertaking spearheaded by Pakistan Customs.Its overarching objective is to diminish the time and expenses associated with conducting business by transitioning Pakistan's cross-border trade into a digital realm, thereby eliminating the need for paper-based manual procedures.