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Tag Archives: retailers

South African retailers spends at least $1.5 billion buying European companies this year

JOHANNESBURG: When Brait SE agreed to pay about $1.2 billion for UK fashion chain New Look last month, South African billionaire Christo Wiese’s investment company took a leaf from an increasingly popular book. Amid a lack of acquisition opportunities on its home continent, Brait followed the likes of retailers The Foschini Group Ltd and The Spar Group Ltd in bypassing ... Read More »

Profiteering continued at Sunday Bazaars despite Rs19 cut in petrol price, arrival of new crops

LAHORE: After huge cut in petrol price by Rs19 per litre and arrival of new seasonal crop, the prices of vegetables have reduced in wholesale markets, but the consumers are still deprived of this reduction due the retailers’ own rates at Sunday Bazaars. Potato fresh price, after arrival of new crop, was reduced by Rs10 per kg, fixed at Rs25 ... Read More »

iPhone 6 price to be cut by $100 in forthcoming holidays

NEW YORK: One of the world’s biggest developers of smart devices, Apple, has decided to cut $100 price during holiday season starting from November 28 this year. The retailers are already working on their promo offers and the Sam’s Club one is particularly interesting. It seems iPhone 6 will be one of its hot promotions this year – it will ... Read More »

Alibaba’s breathtaking program for mobile apps developers

BEIJING: Alibaba Group has come up with a breathtaking initiative that starts e-commerce company’s online-shopping websites to independent mobile-app developers. The initiative offers retailers and developers outside the company extensive technical support so they can connect with Alibaba’s e-commerce ecosystem, which includes C2C and B2C shopping websites Taobao Marketplace and Tmall as well as smartphone shopping apps Mobile Taobao and ... Read More »

Traders reject sales tax on retailers

LAHORE: The All Pakistan Traders Association rejected sales tax on retailers under Amended Finance Act 2014-2015 here the other day All Pakistan Traders Association President Khalid Pervaiz said that according to the amendment, it is necessary for all national and international branded stores, businesses in air-conditioned shopping malls, debit and credit card holder retailers, who use Rs 0.6 million electricity ... Read More »

Clarion call by FBR chief

Federal Board of Revenue Chairman Tariq Bajwa has claimed that hundreds of thousands of people are out of tax net in the country and serious efforts are required to persuade them to pay taxes. He says that every individual who pays tax is just like a client for his department and the government officials are supposed to take care of ... Read More »

Holder of taxpayer card to get numerous benefits: Bajwa

MULTAN: Federal Board of Revenue (FBR) Chairman Tariq Bajwa disclosed that Nadra had designed a ‘distinction’ card for the taxpayers and holders of this card will get numerous benefits. Addressing members of Multan Chamber of Commerce and Industry (MCCI), Bajwa pointed out that holders of this card would be entitled to pay concessional tax on the purchase of cars and ... Read More »

FBR issues notices to retailers for tax collection

ISLAMABAD: The Federal Board of Revenue (FBR) has issued electronic notices to 5,826 retailers asking them to submit their tax returns under normal and turnover regime. The FBR has also obtained electricity bills’ details of these retailers. Sources told Customs Today that the FBR has taken this step to broaden tax net and to implement tax reforms into the country. ... Read More »

CHS vows relief efforts till IDPs back at home

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »

FBR makes tax registration mandatory for Peshawar retailers

PESHAWAR: FBR has made tax registration mandatory for retailers in Pershawar, Khyber Pakhtunkhwa through amendments in the Sales Tax Special Procedures Rules 2007. According to these amendments, tax registration is mandatory for retailers and big departmental stores in the country including KPK. Retailers must have the fiscal electronic sales register to issue receipts to consumers while smaller traders would pay ... Read More »

Bringing retailers into tax net

Federal Board of Revenue has devised rules for implementing the taxation steps taken by the government through Finance Bill 2014-15. In a bid to bring 1.5 million retailers into tax net, FBR has notified rules of special procedures of Sales Tax after enactment of Finance Bill 2014-15. This is a step forward towards documentation of economy and completing the chain ... Read More »

10,000 retailers to be brought into tax net, Senate body told

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa has informed the Senate Standing Committee on Finance that top 10,000 retailers will be brought into the tax net under the new scheme proposed through Finance Bill (2014-15). Briefing the Senate Standing Committee here, Mr Bajwa informed that currently more than 2.5 million retailers were operating across the country, adding that ... Read More »

70 retailers selling non-customs paid cigarettes served notices

LAHORE: Federal Board of Revenue has served warning notices to more than 70 top cigarette retailers across the country for selling smuggled cigarettes, sources said. They added notices were served to retailers located in Faisalabad, Islamabad, Rawalpindi and Sargodha; and similar drives have been launched in Lahore and Karachi as well, with plans to extend the initiative to other cities. Sources ... Read More »