January 21, 2022
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Federal and provincial taxpayers are facing problems in filing the Federal Board of Revenue (FBR)’s National Sales Tax Return (STR), which was formally launched by Finance Minister Shaukat Tarin on January 7, 2022. Earlier, the…
The Federal Board of Revenue (FBR) on Tuesday suspended again the new revised property valuation rates notified through SROs No 1534(1)/2021 to 1572(1)/2021 dated December 1, 2021 up to January 31, 2022. The new valuation…
NA approves State Bank of Pakistan (Amendment) Bill 2021 and supplementary finance bill with some amendments proposed by govt, PTI allies. In the amended bill, govt rolls back its plan to impose additional sales taxes…
The Federal Board of Revenue (FBR) on Tuesday suspended again the new revised property valuation rates notified through SROs No 1534(1)/2021 to 1572(1)/2021 dated December 1, 2021 up to January 31, 2022. The new valuation…
The world’s 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday. Oxfam said the men’s wealth jumped from $700…
The Federal Board of Revenue (FBR) has extended the date of payment and submission of Sales Tax and Federal Excise Return for the Tax Period of December 2021. The date has been extended for filing…
After a lot of wait and speculation, the National Assembly has finally approved the mini-budget, which has created trouble for the car industry. If you remember, the government proposed several Federal Excise Duty (FED) and…
Federal and provincial taxpayers are facing problems in filing the Federal Board of Revenue (FBR)’s National Sales Tax Return (STR), which was formally launched by Finance Minister Shaukat Tarin on January 7, 2022. Earlier, the…
The Government has announced massive increase in the taxes on cars with the approval of the Mini-Budget (State Bank of Pakistan (Amendment) Bill 2021 and Supplementary Finance Bill 2021 ). The Government has introduced several…
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Press Release issued by FBR and informed that FBR helpline is currently under maintenance and will not be fully available. FBR also informed that taxpayers can use FBR email address for their queries. Press Release of FBR Due to scheduled maintenance, our Helpline number (051-111-772-772) is currently operating at 10% capacity. You are kindly requested...
Vivo X70 Pro is a device launched in Pakistan. The official price of this phone is 139999 Rupees. The Vivo X70 Pro price in Pakistan is more then $130/- which includes 20% custom duty tax levied by PTA as part the new system of registering your devices in order to be able to operate them...
The Federal Board of Revenue (FBR) on Tuesday suspended again the new revised property valuation rates notified through SROs No 1534(1)/2021 to 1572(1)/2021 dated December 1, 2021 up to January 31, 2022. The new valuation tables of the immovable properties would be re-notified on February 1, 2022. In this connection, the FBR has issued an...
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TaxUrdu.Com
On Wednesday the Rupee currency gained a fresh Rs0.57 to Rs169.97 to a dollar in the inter-bank market. The rupee has recovered Rs5.3 since hitting the record low of Rs175.27 against the greenback on October…
The Pak-rupee extended losses against the US-dollar on Wednesday, owing to the higher demand for import payments. According to media reports, the exchange rate closed at Rs158.92. Against the greenback, compared with the previous day’s…
Currency Rate as per Open Market as on Wed, Jun 09 2021, 12:30 PST (GMT+5) Currency Symbol Buying Selling Australian Dollar AUD 119 121 US Dollar DD USD-DD 155.3 156.65 Bahrain Dinar BHD 386.5…
As on Wed, Jun 09 2021, 07:08 GMT Gold Rate 24K Gold 22K Gold 21K Gold 18K Gold per Tola Gold Rs. 110300 Rs. 101108 Rs. 96513 Rs. 82725 per 10 Gram Rs. 94600 Rs.…
The world’s 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday. Oxfam said the men’s wealth jumped from $700…
The United States and Turkey have agreed to terms for withdrawal of Turkey’s digital services tax that largely targeted highly profitable U.S. technology giants and will transition to a new global taxation agreement in 2023,…
COLOMBO: Sri Lanka slapped a tax on road accidents in a drastic austerity budget unveiled Friday as the country faces a major foreign exchange crisis. Finance Minister Basil Rajapaksa said vehicle accidents will be taxed…
In its recently held hybrid Plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list. Pakistan will remain on the grey list till it addresses both items on…
A leaked data on offshore companies that is larger in size than the Panama Papers, exposed the financial secrets of the global rich and powerful, including politicians, financiers, retired generals, media owners and businessmen. Who…
Lee Kun-hee (9 January 1942 – 25 October 2020) was a South Korean businessman and industrialist who served the chairman of Samsung Group from 1987 to 2008 and from 2010 to 2020. With an estimated net worth of US$21…
Federal and provincial taxpayers are facing problems in filing the Federal Board of Revenue (FBR)’s National Sales Tax Return (STR), which was formally launched by Finance Minister Shaukat Tarin on January 7, 2022. Earlier, the…
The Finance (Supplementary) Bill 2021 or the mini-budget is about to create a legal dilemma for the federal government as for the first time goods being produced at the Export Processing Zone (EPZ) would also…
The Federal Board of Revenue (FBR) has introduced a mandatory requirement of six documents for the claim of duty drawbacks on local supplies, free of duty imports, and taxes to avoid any misuse of the…
The Federal Board of Revenue (FBR) has claimed that it has busted the first biggest tax fraud of billions of rupees by tampering with its electronically integrated Point of Sales (POS) system amid the company…
The launch of single sales tax return will help the authorities to prevent tax evasion and end the phenomenon of fake and flying invoices. The Federal Board of Revenue (FBR) said that the single sales…
The federal government presented the supplementary finance bill 2021 before the Parliament for withdrawal of General Sales Tax (GST) exemptions and proposed imposition of 17% tax on nearly 150 items on Thursday. According to the…
The Federal Board of Revenue (FBR) has changed the definition of the exported goods for claiming duty drawback covering supplies against international tenders or supply to industrial units, projects, institutions, agencies, and organisations. The FBR…
The Financial Action Task Force (FATF) has sought the list of business persons registered with tax departments using forged CNIC. FBR has acquired some details about such business persons using forged CNICs, enabling money laundering.…
Instructions issues by Chief Commissioner Regional Tax Office (RTO) Lahore Nasir Iqbal Khan for monitoring of sales of those Tier-1 Retailers (T-1Rs) who are resisting integration with Point of Sale (POS) system. For this purpose,…
The rollout of first phase of Pakistan Single Window (PSW) is underway and it will be completed in March 2022, said Adviser to Prime Minister on Finance and Revenue Shaukat Tarin. Presiding over the second…
In the wake of increased prices of steel products in domestic and international markets, the Federal Board of Revenue (FBR) increased the minimum prices of steel products through amendments in SRO-985 issued on August 4,…
The Federal Board of Revenue (FBR) has intensified offsite and onsite inspections against Designated Non-Financial Businesses and Professions (DNFBPs) and imposed penalties on a large number of real estate agents for not implementing anti-money laundering…
The Federal Board of Revenue (FBR) has decided to integrate the foreign exchange dealers with its Point of Sale (POS) system to keep an eye on the trading activities of the forex market. According to…
A committee headed by the deputy governor of the State Bank of Pakistan (SBP) has recommended a complete ban on cryptocurrency, saying that allowing it could lead to an outflow of foreign exchange and illicit…
The Federal Investigative Agency’s (FIA) Cyber Crime Wing said on Friday that it has issued a notice to an official from Binance, a popular cryptocurrency exchange, while investigating a multi-million dollar scam. The agency, seeking…
What is Sohni Dharti Remittance Program? According to the SBP, the program has been designed to incentivize Pakistani workers abroad to send remittances to Pakistan through banks and exchange companies. They will get reward points…
Hackers have stolen more than Rs. 5.8 million cash from an ATM of a branch of the National Bank of Pakistan (NBP) located in Pindi Bhattian, a city of Punjab’s Hafizabad district. According to details,…
The State Bank of Pakistan (SBP) is soon be granted autonomy as an amendment bill was approved in the parliament on Wednesday, bringing Pakistan a step closer to reviving the $6 billion International Monetary Fund…
The Federal Board of Revenue (FBR) has extended the deadline for implementing the revised FBR Property valuation rates 2022 of properties in 40 major urban cities by holding its notification in abeyance till January 31,…
The buyers and sellers of immovable properties across the country are unsure about the legal status of the applicability of the FBR’s valuation rates of Properties from 16 January 2022. The Federal Board of Revenue…
The Federal Board of Revenue has announced a very interesting FBR POS Prize Scheme in which you can win 10,00,000 Rupees every month. FBR Announces prizes for purchasing any item from the Shops/Retailers/ Superstores affiliated…
The top 10 items which contribute most of import taxes in Pakistan – eight of them related to energy and edible oil – contributed one-third of import taxes, or Rs409 billion, in the first five…
The federal government has hinted at reducing petroleum prices in the country after oil prices in the international market witnessed decline on new coronavirus variant concerns. The oil prices plunged $10 a barrel on Friday,…
The State Bank of Pakistan expressed serious concerns on Thursday over speculation by banks in the currency business, saying they were involved in the multibillion-rupee game. Banking sources said a high-level meeting, chaired by SBP…
NA approves State Bank of Pakistan (Amendment) Bill 2021 and supplementary finance bill with some amendments proposed by govt, PTI allies. In the amended bill, govt rolls back its plan to impose additional sales taxes…
Which persons required to get sales tax registration ? Registration Section 14 of Sales Tax Act 1990 According to Registration provisions under Section 14(1) of Sales Tax Act, 1990, Every person engaged in making taxable supplies…
Federal Minister for Finance Shaukat Tarin on Thursday presented the much-awaited supplementary finance bill 2021 — termed by the Opposition as a “mini-budget” — in the National Assembly, as a pre-requisite to resume the $6…
The federal cabinet on Tuesday approved the State Bank of Pakistan (SBP) amendment bill to give absolute autonomy to the central bank in a bid to qualify for the $1 billion loan, but on the…
The proposed increase of five percent (5%) in the withholding tax (WHT) on telecommunication services and the standard rate of 17% percent sales tax on import of computers and accessories is expected in the forthcoming…
The Federal Board of Revenue (FBR) on Tuesday suspended again the new revised property valuation rates notified through SROs No 1534(1)/2021 to 1572(1)/2021 dated December 1, 2021 up to January 31, 2022. The new valuation…
The Federal Board of Revenue (FBR) has extended the date of payment and submission of Sales Tax and Federal Excise Return for the Tax Period of December 2021. The date has been extended for filing…
After a lot of wait and speculation, the National Assembly has finally approved the mini-budget, which has created trouble for the car industry. If you remember, the government proposed several Federal Excise Duty (FED) and…
The Government has announced massive increase in the taxes on cars with the approval of the Mini-Budget (State Bank of Pakistan (Amendment) Bill 2021 and Supplementary Finance Bill 2021 ). The Government has introduced several…
The Federal Board of Revenue (FBR) has started budget preparation exercise for 2022-2023. In this regard, the FBR has issued a letter to all Chamber of Commerce and Industry seeking customs-related budget proposals for 2022-23.…
On the plea of the Federal Board of Revenue (FBR), the Supreme Court of Pakistan has suspended the Sindh High Court (SHC) order which declared illegal the issuance of FBR notices to the Pakistanis pertaining…
Press Release issued by FBR and informed that FBR helpline is currently under maintenance and will not be fully available. FBR also informed that taxpayers can use FBR email address for their queries. Press Release…
Vivo X70 Pro is a device launched in Pakistan. The official price of this phone is 139999 Rupees. The Vivo X70 Pro price in Pakistan is more then $130/- which includes 20% custom duty tax…
Possible Outcome of Tomorrow’s Meeting on Schools Closure. The Inter-Provincial Education Ministers Conference (IPEMC) held earlier today to mull over the closure of educational institutes amid the resurging Coronavirus in the country has ended without…
Samsung Galaxy A50 is a device launched in Pakistan. The official price of this phone is 0 Rupees. The Samsung Galaxy A50 price in Pakistan is less then $60/- which includes 250 Rupees custom duty…
Samsung Galaxy A51 is a device launched in Pakistan. The official price of this phone is 49999 Rupees. The Samsung Galaxy A51 price in the country is more then $130/- which includes 20% custom duty…
Apple IPhone SE 2020 is a device launched in Pakistan. The official price of this phone is 92499 Rupees. The Apple IPhone SE 2020 price in the country is more then $130/- which includes 20%…
CNIC condition to be waived on digital payment
The Federal Board of Revenue (FBR) may withdraw the condition of providing details of Computerized National Identity Card (CNIC) in case payment made through digital means. The Finance (Supplementary) Bill, 2021 proposed to waive the condition of…