FBR updates, income tax, budgets and markets for Pakistan
192 articles
The FBR issued SRO 93(I)/2020 to amend Sales Tax Rules, 2006. The FBR issued the rules to implement to the law introduced through Finance Act, 2020 to determine the valuation of used…
Federal Board of Revenue (FBR) extended last date for submission of annual income tax returns up to December 08, 2020. The last date for submission of tax return was 30th September 2020.…
The Federal Board of Revenue (FBR) and the Pakistan Banks Association (PBA) have finally reached an agreement on the implementation of Sections 165 and 165A of the Income Tax Ordinance 2001. The…
Ministry of commerce announced the import policy of new and used cars under Import Policy Order, 2020. The ministry issued SRO 902(I)/2020 dated September 25, 2020. Notified the Import Policy Order, 2020…
Mr Abid Shaban the Chairman of Technical Committee of Federal Board of Revenue (FBR), aimed to create a taxpayer friendly environment. He invited suggestions for improving various functions of the tax machinery.…
Karachi's wholesale and retail markets, which meet the needs of low-income and middle-class areas of city, regularly submitting their due taxes in accordance with their incomes. Tax Compliance in Posh areas In…
The Federal Board of Revenue (FBR) issued order of Rs 35million tax penalty on Sarina Isa, the wife of Justice Qazi Faez Isa. Commissioner Inland Revenue and International Taxes Zone Zulfiqar Ahmed…
Federal Board of Revenue (FBR) issued changes in withholding tax rates on sales made. Sales made by manufacturers to retailers, wholesalers and distributors during the tax year 2021. New rates implemented through…
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued draft forms for filing income tax returns tax year 2020. The FBR issued SRO 745(I)/2020 and invited comments from stakeholders on the draft…
FBR warns retail stores to register with point of sale (POS) System to avoid heavy fines and using this system will end periodic examinations by the Federal Board of Revenue. It will…
ISLAMABAD: It is for general information and in order to avoid any confusion on the matter mentioned above. It is clarified that no sales tax had been imposed on wheat flour in…
The formula for calculation of capital gain tax on the sale of immovable property. Federal Board of Revenue (FBR) issued a formula for the calculation of capital gain tax (CGT) on the…