FBR updates, income tax, budgets and markets for Pakistan
359 articles
In a letter to the Chairman of FBR, Karachi Tax Bar Association (KTBA) on February 22, 2018 expressed grave concern over the withdrawal of the FBR's earlier explanation and limited the entire…
According to a notice issued by the Director General of Customs Valuation, Karachi earlier this week, a duty of $ 70-150 per piece has been imposed on used imported laptops while tax…
Dr. Muhammad Ashfaq Ahmed Member IR Operations signed the contract on behalf of FBR and Kevin McKenna CEO and President of Authentix Inc USA, Sten Bertelsen, from Mitas Corporation (Pty) South Africa…
The FBR proposed amending the Customs Rules 2001 in a notification issued here on Friday. According to SRO.201 (I) / 2021, "tourist" means "a person not normally resident in Pakistan, who enters…
According to Pakistan Tax Bar Association, many tax bars and Tax Consultants across the Pakistan have brought in to the notice that there are huge number of taxpayers who have submitted their…
The Federal Board of Revenue and the Punjab Information Technology Board have taken a very important step to promote the business and facilitate the taxpayers by introducing the one window facility under…
Federal Board of Revenue has issued a circular in the wake of ongoing measures against corruption and irregularities under which a taxpayer can lodge a complaint against any officer or official involved…
Active Taxpayer List (ATL) is available on FBR's official website. The number of income tax returns for the tax year 2020 reached 2.62 million on February 28, 2021, compared to 2.43 million…
The 2.2 million tax return filers were only one-third of those who have valid National Tax Numbers (NTNs). They were doing business in Pakistan but did not file tax returns. This means…
An order in favor of Pakistani taxpayer's rights. Where it has been violated by most tax employees, including senior officials under the Federal Tax Ombudsmen (FTO) Ordinance, 2000, According to Business Recorder…
Addressing the Senate Standing Committee on Finance, Revenue and Excise on Monday. He told committee chairman Senator Farooq Hamid Naik that the scope of the track and trace system will to extend…
"I am pleased to announce that Rs 213 million has been sanctioned for DLTL payments in the non-textile sector," Abdul Razzaq Dawood, Advisor to the Prime Minister on Trade and Investment, said…
Profits arrived from the business unit of an electric power generation project established in Pakistan are exempt from tax. Profits earned by a company from the export of computer software, IT services,…
The FBR has asked suggestions from the tax offices including Large Taxpayer Offices (LTOs), Medium Tax Offices (MTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs) as well as traders and…
The Federal Board of Revenue (FBR) has issued a criteria for selection and conduct of income tax audit under Section 214C of the Income Tax Ordinance, 2001. The criteria have been given…
Amid growing protests among the Pakistani business community in Japan, the Japanese government has announced action against the approval of used vehicles on the basis of forged / forged documents. "In response…
Former Federal Board of Revenue (FBR) chairman Shabar Zaidi has said there is no law to bring back assets abroad. The question is, how did 120 billion go abroad? He said these…
Rahat Ali Khan found it costly not to disclose the amounts in the secret accounts in the annual income tax returns. Singer Rahat Fateh Ali Khan could not satisfy the FBR regarding…
ISLAMABAD: It is for general information and in order to avoid any confusion on the matter mentioned above. It is clarified that no sales tax had been imposed on wheat flour in…