FBR updates, income tax, budgets and markets for Pakistan
11 articles
Under the Finance Bill, 2021, the FBR proposed Section 203A (Power to arrest and prosecute) in the Income Tax Ordinance 2001. It must be remembered that Section 184 (Penalty for concealment of…
PM has approved presenting of the next budget for 2021-22 in the National Assembly on June 11, 2021. The federal budget worth Rs 8000 billion for the Financial year 2021-2022 ready to…
According to the documents, Rs 110 billion earmarked for water resources, Rs 113 billion for NHA and Rs 53 billion for PEPCO. Rs 60 billion allocated for emergency and other situations and…
The real estate sector has demanded in the next budget that the construction package of the Prime Minister and the related amnesty scheme be extended till June 30, 2022. 50% reduction in…
Currently, the Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the first eleven months of current tax year / fiscal year. According to the information, FBR has…
Islamabad Chamber of Commerce and Industry President Sardar Yasir Ilyas Khan has urged the government to introduce a fixed tax regime for traders in the upcoming budget. He also said to end…
There is also a proposal to tax interest income under normal tax regime, instead of charging a maximum rate of 15% that is at the lower end. The talks between the both…
In its proposals for budget 2021/2022, the Karachi Tax Bar Association (KTBA) said. That Section 49(3) of the Income Tax Ordinance, 2001 has specified. That payment received by the Federal, Provincial or…
The traders’ union leaders explained that the coronavirus pandemic situation has damaged businesses. Which made it impossible for them to meet expenditures and faced heavy losses in past one year. They also…
The Income Tax Second Amendment Act 2021 approved in a cabinet meeting chaired by Prime Minister Imran Khan after resisting the IMF's demand for more than a year. The IMF suspended more…
Sources in the finance ministry told the Express Tribune that the increase in revenue would include the burden of income tax on business people and the corporate sector. The salaried class, especially…