FBR updates, income tax, budgets and markets for Pakistan
515 articles
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…
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…
During a meeting with the business community at the Faisalabad Chamber of Commerce and Industry (FCCI), he appealed to every citizen to submit their tax returns. Highlighting the issuance of notices to…
"In this regard, we have created a section to review all the bills of the people, the number of deposits and the date of travel, etc. and if a person is found…
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…
Adviser to Prime Minister on Parliamentary Affairs Babar Awan and National Assembly Speaker Asad Qaiser held a meeting to decide the schedule of the budget. The budget will be submitted by Finance…
The proposal, seeks to cut import duties and taxes on new imported cars by up to 63% and cut down them by nearly 7% for locally made cars. The proposal includes eliminate…
Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the first eleven months of current fiscal year. According to the provisional information, FBR has collected net revenue of…
The KTBA urged to establish special directorate to audit of cases involving tax fraud. KTBA proposed amendment in different tax law provisions. If the tax officer determined that the registered person is…
FBR has clarified that an amount of Rs. 20 million allocated under PSDP funding to PSW program for the on-going fiscal year and not the reported amount of Rs 200 million. With…
FBR explained that in a meeting with Pakistan Telecommunication Authority (PTA). According to this the passengers can register up to 5 mobile phones on their passports. In case of high end phones…
Assessment order issued where amount involved of Rs. 4.27 billion as sales tax. Also default surcharge and 100% penalty for tax fraud. Accused includes Sheikh Munir Hussain, who was arrested. Two bail…
The module enables online hearing both form the dedicated hearing rooms established in the field formations and from the places of the taxpayers. Such e-Hearings will available recorded and archived for further…
Karachi tax bar Association asked the FBR to extend the last date of payment of sales tax and date of filing of the monthly sales tax return for the period April 2021…
The FBR amended S.R.O. 57(I)/2016 (sales tax on petroleum products) through issuance of a notification S.R.O. 557 (I)/2021 issued on Monday. According to the notification issued, the standard rate of 17 percent…
Please go to https://iris.fbr.gov.pk/public/txplogin.xhtml and Click “Registration for Unregistered Person”. 1- Please use your Iris login and password to enter in Iris application. 2- After logging in, on left upper corner of…
On this occasion, Chairman Anti-Benami Adjudicating Authority Muhammad Ali, Member FATE and Director General Anti-Benami Initiatives Syed Nadeem Hussain Rizvi, Member Administration Bakhtiar Muhammad and other members and officers were present. Chairman…
Federal Board of Revenue (FBR) vide S.R.O. No. 533(I)/2021 dated: 5th May, 2021. In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), the Federal…
In order to facilitate exports and other trade activities, Federal Board of Revenue’s Customs Wing has issued instructions to all Customs field formations to work as normal working days on 8th, 10th…
The date of payment of Sales tax and FED monthly return, due on 15th May 2021, hereby extended up to 18th May 2021. Further, The date of submission of Sales Tax and…