FBR updates, income tax, budgets and markets for Pakistan
515 articles
The Federal Board of Revenue (FBR) may withdraw the condition of providing details of Computerized National Identity Card (CNIC) in case payment made through digital means. The Finance (Supplementary) Bill, 2021 proposed…
The Federal Board of Revenue (FBR) has claimed that it has busted the first biggest tax fraud of billions of rupees by tampering with its electronically integrated Point of Sales (POS) system…
The launch of single sales tax return will help the authorities to prevent tax evasion and end the phenomenon of fake and flying invoices. The Federal Board of Revenue (FBR) said that…
Building further on its ongoing drive for digitization to facilitate the taxpayers, promote ease of doing business and reduce compliance costs, FBR achieved one more milestone by developing National Sales Tax Return.…
The Financial Action Task Force (FATF) has sought the list of business persons registered with tax departments using forged CNIC. FBR has acquired some details about such business persons using forged CNICs,…
The federal government presented the supplementary finance bill 2021 before the Parliament for withdrawal of General Sales Tax (GST) exemptions and proposed imposition of 17% tax on nearly 150 items on Thursday.…
Federal Minister for Finance and Revenue, Shaukat Tarin, has ruled out the speculations, being expressed by many, that the supplementary finance bill will cause an increase in inflation. Addressing a press conference,…
Federal Minister for Finance Shaukat Tarin on Thursday presented the much-awaited supplementary finance bill 2021 — termed by the Opposition as a "mini-budget" — in the National Assembly, as a pre-requisite to…
Instructions issues by Chief Commissioner Regional Tax Office (RTO) Lahore Nasir Iqbal Khan for monitoring of sales of those Tier-1 Retailers (T-1Rs) who are resisting integration with Point of Sale (POS) system.…
The federal cabinet on Tuesday approved the State Bank of Pakistan (SBP) amendment bill to give absolute autonomy to the central bank in a bid to qualify for the $1 billion loan,…
Apple IPhone XR is a device launched in Pakistan. The official price of this phone is 151799 Rupees. The Apple IPhone XR price in Pakistan is more then $130/- which includes 20%…
The proposed increase of five percent (5%) in the withholding tax (WHT) on telecommunication services and the standard rate of 17% percent sales tax on import of computers and accessories is expected…
The government is all set to introduce the amended Finance bill, and State Bank of Pakistan (SBP) autonomy bills in Parliament for approval tomorrow (Tuesday) despite resistance by opposition. Both the bills…
Taxpayers are again requesting to Federal Board of Revenue (FBR) that the mandatory condition of digital modes of payment for companies (corporate sector) be allowed simultaneously with other conventional means of payments…
PTA Tax on Apple iPhone 13 Series, Including iPhone 13/ 13 Mini, iPhone 13 Pro & iPhone 13 Pro Max in Pakistan. Apple iPhone 13 Mini PTA Tax (All Variants) Tax Payable:…
The Federal Tax Ombudsman (FTO), in pursuance of Own Motion (OM) investigation powers conferred to him under Section 9(1) of the Federal Tax Ombudsman Ordinance, 2000 (FTO Ordinance), has ordered to probe…
The Corporate Tax Office (CTO) Lahore has imposed penalty of reducing adjustable input tax by 60% against 35 Tier-1 Retailers (T-1Rs) for their failure to integrate with Point of Sale (POS) system.…
The government of Pakistan completed the mini-budget to the tune of Rs 360 billion that would smack 17% General Sales Tax (GST) on around 140 vital expendable and manufacturing goods, as well…
The Federal Board of Revenue’s (FBR) technology head has resigned from his position due to differences over his salary package. Chief information officer (CIO) resigns on over four times higher salary than…
The Federal Board of Revenue (FBR) has decided to revise the prescribed “Form” for the taxpayers for filing of references to the High Courts on question of law in the tax matters.…