FBR updates, income tax, budgets and markets for Pakistan
138 articles
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) on Monday issued an office order under Section 4(1)(r) of FBR Act, 2007. Whereby FBR renamed it's field offices of three major cities. The new names of…
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…
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…
The Federal Board of Revenue (FBR) on Wednesday implemented rules for taxing imported goods. FBR introduced it through (Twelfth Schedule of Income Tax Ordinance, 2001) Schedule XII of the Income Tax Ordinance…
After registering a local office called Amazon Data Services Pakistan (Pvt) Ltd., Amazon is forming a team for Amazon Web Services (AWS) in Pakistan to adopt cloud computing. The move comes two…
Modi's on Tuesday confirmed the rating of five Pakistani banks. 'B3 long-term local currency and Caa1 foreign-currency deposit ratings. Pakistani Banks include Allied Bank Limited (ABL). Habib Bank Limited (HBL). MCB Bank…
ISLAMABAD: Pakistan has allowed Afghan exports through Wagah border crossing from July 15, 2020, a statement said on Monday. At the special request of the Government of Afghanistan and to facilitate transit…