Updated Tax Exemptions and Tax Credits for the Financial Year 2021-2022
Income Tax Ordinance, 2001 provides for tax exemptions, tax credits, reduced tax rates, and…
FBR Explains Changes in Minimum Turnover Tax
The minimum turnover tax of 0.75 percent would be applicable on the oil marketing companies, Sui…
Tax Experts disclosed FBR’s three budgetary proposals impracticable
Tax experts have termed Federal Board of Revenue’s (FBR) three budgetary proposals are not…
FBR issues clarification on FMCG
Federal Board of Revenue (FBR) has clarified that the table prescribing tax rates for minimum tax on…
Govt decides to withdraw arrestment powers on concealment of Income
The government has finally taken the decision to remove all income tax provisions from the Finance…
Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives
The standing committee informed and proposed that an amendment is under way to streamline legality…
Political parties exempted in Budget from filing income tax returns and paying taxes
The government proposed to exempt all registered political parties of Pakistan from the obligation…
FBR Officers Authorized to Arrest Anyone on Concealment of Income
The Inland Revenue officers of the Federal Board of Revenue (FBR) have been given unlimited powers…
Taxes on Salaries and Pensions: FBR Issues Clarification
Federal Board of Revenue (FBR) issued a clarification on a news published in the daily Express…
Auto Sector wins Tax Relief in Budget 2021-2022
The financial year 2021-2022 budget represented by the government on Friday, where several upcoming…
