FBR updates, income tax, budgets and markets for Pakistan
11 articles
FBR has Corrected Tax Return Form for IT Exporters Under Section 154A. Here is good news for IT Exporters the Federal Board of Revenue (FBR) has corrected and removed the error in…
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…
Federal Board of Revenue (FBR) on Tuesday said that the process of licensing the IT Service Providers for integration of Tier-1 retailers will take time. The FBR issued Rules for licensing of…
Karachi Tax Bar Association (KTBA) urges the Federal Board of Revenue (FBR) to issue fresh directions to banks for not collecting withhold tax under section 154A of the Income Tax Ordinance from…
Let us see the taxation of IT and IT enabled services, freelancer and startups. Both income tax and sales tax provisions are here hereby explained. Further, the recent changes in taxation of…
The bill proposes to streamline the tax system for non-profit organisations, listing of firms in the stock market, tax exemptions for oil refineries, special economic zones (SEZs) set up under the China-Pakistan…
Budget proposal available to expand the scope of tax incentives available for income from the export of software, IT services and IT-enabled services, a statement said. For this purpose, the 'Tax Exemption'…
Investigations into the scam needed issuance of show-cause notices to 70,000 individuals. The exercise is likely to fetch about Rs10 billion taxes and expand the tax net, added the sources. Such amount…
Hotels, motels and guest houses. 9801.1000 Tax Rate: Five percent without input tax adjustment for noncorporate, nonfranchise, nonchain businesses with less than 20 rooms; and Sixteen percent for others. Marriage halls and…
The FBR issued SRO 77 (1) 2021 to amend SRO 495 (1) / 2016 on July 4, 2016 regarding the imposition of sales tax on services provided in Islamabad Capital Territory (ICT).…
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,…