Tax credit to Tier-1 retailers installing Point of Sales machines of FBR
November 28, 2021
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All Tier 1 retailers are required to integrate with Board’s Point of Sale online real time reporting system. In order to encourage integration with point of sale real time reporting system of FBR, tax credit…
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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,…
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Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said the government will not impose any new taxes in the upcoming ‘mini budget‘, but it will withdraw some tax exemptions given…
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Income Tax Ordinance (ITO), 2001 has defined various approved funds for the chargeability of income tax. The Income Tax Ordinance, 2001 updated up to June 30, 2020 issued by the Federal Board of Revenue (FBR)…
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Under Section 32A of Sales Tax Act, 1990 FBR is authorized to appoint special panels for conducting sales tax audit. The Federal Board of Revenue (FBR issued the Sales Tax Act, 1990 updated up to…
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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,…
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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…
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In a historic development and a special ceremony organized at Prime Minister’s Office here on Tuesday, the Prime Minister of Pakistan Mr. Imran Khan unveiled FBR’s Track & Trace System on Sugar Sector. Advisor to…
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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,…
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The Federal Tax Ombudsman (FTO) has issued a landmark order against an Inland Revenue Commissioner of the Corporate Tax Office Lahore (CTOL) for blocking fully verified income tax refunds by adopting delaying tactics. According to…
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