Taxation
Last Date to File Tax Income Return 2023 is ahead
Last Date to File Tax Income Return 2023 is ahead. Every year taxpayers file their tax returns in compliance to tax laws of their country. In Pakistan, last date to file tax…
#iris
18 articles
Taxation
Iris 2.0 Tax Filing System Launched by FBR
Iris 2.0 Tax Filing System Launched by FBR. Pioneer tax authority in Pakistan, Federal Board of Revenue has recently launched new tax filing system named Iris 2.0. FBR has launched it on…
Updates
How to Check your FBR Maloomat and tax details
How to Check your FBR Maloomat and tax details. FBR Maloomat is a facility that the tax authority has given to its taxpayers to check their tax details. Further, from the FBR…
Updates
FBR Iris Website is currently Under Maintenance
FBR Iris Website is currently Under Maintenance. As per FBR's information on his IRIS website, the website is currently unavailable and is under maintenance. FBR said, " We are sorry for the…
Blog
Taxpayer NTN Profile Inquiry
Taxpayer NTN Profile Inquiry If you want to check National Tax Number (NTN) by using CNIC Number then follow the below method: Provide your “Registration No” in the registration field. (Number Provided…
Updates
FBR launched National Single Sales Tax Return Today
Achieving yet another significant milestone towards digitization & data integration to facilitate taxpayers, promote ease of doing business, harmonizing Sales Tax & reduce compliance costs, FBR has launched its National Sales Tax…
Blog
Tax rates on motor vehicles during tax year 2022
The rates of income tax on motor vehicles for tax year 2022 to be applicable under Second Schedule of Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income…
Updates
FBR announces planned system downtime up to 30th August 2021
Federal Board of Revenue (FBR) issued Press release today (on 22nd August, 2021) regarding the scheduled downtime of it's systems (which includes FBR websites, Iris, Taxasaan application, eFBR, and sales tax etc.,).…
Updates
FBR issues latest explanation on FBR Data Center
Federal Board of Revenue (FBR) has issued the explanation regarding latest situation pertaining to service optimization of FBR Data Center. FBR has clarified that all applications having public interface have been operationalized…
Updates
President Alvi ordered on the issue of failure to upload declarations under tax amnesty scheme
The President of Pakistan, Dr. Arif Alvi, issues an order in favor of the declarants of the Tax Amnesty Scheme 2019 (assets declaration scheme). Who already deposited their taxes under the Tax…
World Taxes
Tax Deadline 2021 for World Corporate Income Taxes
Here, Tax deadlines for 2021, Income Tax Due dates or Tax Calendar is given for Individuals, Association of Persons (AOPs) and Company (Corporate Sector) of Pakistan and for World Corporate Income Tax…
Taxation
Corporate tax exemptions
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,…
Taxation
Criteria for selection & conduct of income tax audit
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…
Taxation
Further extension in time for filing income tax return
Extension of time for furnishing returns and other documents. Section 119 of the Income Tax Ordinance 2001 deals with the extension in time for filing annual income tax returns. According to the…
Taxation
Income Tax on Foreign Remittance in Pakistan 2022
Through the study of the Income Tax Ordinance, 2001 in general and the provisions of Section 80 of the Ordinance in particular, reveal the three types of persons to be treated under…
Taxation
FBR issues procedure for cash back refunds of sales tax to customers of Tier-1 retailers
(1) All customers of Tier-1 retailers are entitled to refund @5 percent of the sales tax paid as cash back on purchases made from Teir-1 retailers. (2) Under sub-rule (1) the cash…
Updates
FBR launched online module for Greenfield investors status registration
Federal Board of Revenue (FBR) launched online module in Iris for providing facility for submission of applications for the approval of "Greenfield Industry Status." For this purpose, two separate applications in the…
Taxation
Who is exempt from filing income tax returns ?
Persons who are not required to file there income tax returns are explained under section 115 of Income Tax Ordinance, 2001. Section 115 of the Income Tax Ordinance, 2001 is reproduced here:…