FBR updates, income tax, budgets and markets for Pakistan
131 articles
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…
Federal Board of Revenue (FBR) has introduced income tax return form in Urdu language. In order to facilitate taxpayers, a FBR spokesman said on Wednesday. The spokesman said that on the vision…
Pakistan’s current account balance continued to remain in surplus for the second consecutive month. At $297 million in August as inflows of foreign currencies were higher than outflows. According to central bank…
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…
The Federal Board of Revenue has decided to introduce an automated system of electronic filing of appeals. This system will enable to taxpayers to file there appeal matters with Commissioner appeals online.…
FBR issued circular no. 03 of 2020, dated 3rd September, 2020. Whereby, FBR allowed adjustability of property expenses against income from rent on property for all individuals and AOP's Amendment in Finance…
Federal Board of Revenue FBR increased the limit of turnover for withholding agents. Taxpayers having turnover above Rs 100 million will need to deduction of withholding tax. Income Tax Circular No. 03…
Which countries tax their citizens the most? In 2019, the highest income earners in Sweden pay a 57.19 percent, highest in the world. This is more than the OECD average of 41.65…
Federal Board of Revenue (FBR) issued list of business sectors for mandatory income tax integration under income tax laws. SRO issued vide no 779(I)/2020 by FBR to amend Income Tax Rules 2002.…
Tax relief proposed for telecom sector in ECC committee meeting. Whereby, advance income tax on the telecom sector proposed to abolish and reduction in the FED rate. Matter moved to a committee…
Federal Board of Revenue (FBR) revised withholding tax rate on educational fee. Applicable from the tax year 2021. Tax card uploaded by FBR revised up to 30th June 2020 though Finance Act…