Sales Tax Relief by Punjab Revenue Authority

Sales Tax Relief by Punjab Revenue Authority

Through the Finance Act, 2020, the Government of the Punjab reduced the rate of Punjab Sales Tax on Services from 16% to 5% on more than twenty services. Punjab Revenue Authority also reduced the rate…

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Guide To LDA City Naya Pakistan Apartments and How to Apply for Bank of Punjab Loans

Guide To LDA City Naya Pakistan Apartments and How to Apply for Bank of Punjab Loans

With the objective of constructing 50,000 housing units, an effort can be seen in the form of ‘LDA City Naya Pakistan Apartments’. Under this project, the government has approved the construction of 35,000 affordable apartments. This…

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Naya Pakistan LDA Apartments: Bank of Punjab & LDA Sign Deal

Naya Pakistan LDA Apartments: Bank of Punjab & LDA Sign Deal

The Lahore Development Authority (LDA) and the Bank of Punjab (BOP) have signed an agreement worth Rs. 10 billion under which the bank will provide resources for the construction of LDA City Naya Pakistan Apartments.…

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FBR Not providing tax concessions to Foreign Exchange Remittance Card holders

FBR Not providing tax concessions to Foreign Exchange Remittance Card holders

It has been disclosed that the Federal Board of Revenue (FBR) is not offering the facility of duty and tax credit and concessions on import of mobile phones and other imported items to the overseas…

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CPEC Related Gwader Projects

CPEC Related Gwader Projects

S.No Project Name Estimated Cost(US$ M) 1 Gwadar East-Bay Expressway 168 2 New Gwadar International Airport 230 3 Construction of Breakwaters 123 4 Dredging of berthing areas & channels 27 5 Development of Free Zone…

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Corporate tax exemptions

Corporate tax exemptions

Following tax exemptions are available to corporate taxpayers: Profits arrived from the business unit of an electric power generation project established in Pakistan are exempt from tax. Profits earned by a company from the export…

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FBR has been asked to be fully digitized by July 2021: PM Says

FBR has been asked to be fully digitized by July 2021: PM Says

Prime Minister Imran Khan said that the Federal Board of Revenue (FBR) has been asked to be fully digitized by July 2021. It allow the government to increase tax collection and allocate more resources in…

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Significant progresses in corporate taxes

Significant progresses in corporate taxes

Currently, the Government of Pakistan has introduced amendments in the following areas, taking into account the extraordinary economic conditions caused by the Covid 19 epidemic. Developments in Tax Laws | Fixed tax regime introduced for…

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FBR’s datewise activities in year 2020

FBR’s datewise activities in year 2020

FBR ISSUES CLARIFICATION (Federal Board of Revenue has issued a clarification regarding extension in Prime Minister’s Construction package.) Dec 31, 2020 2.19 MILLION INCOME TAX RETURNS FILED Dec 26, 2020 SMUGGLED GOODS WORTH 29 BILLION SEIZED…

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Tax measures & reliefs in response to COVID-19 in 2020 by Pakistan

Tax measures & reliefs in response to COVID-19 in 2020 by Pakistan

Government in Pakistan have introduced tax measures to reduce the impact of the COVID-19 pandemic in year 2020. Tax Reliefs in 2020 by Pakistan Exempted taxes on import of oxygen gas, cylinders & tanks 23…

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