FBR updates, income tax, budgets and markets for Pakistan
5 articles
The Lahore High Court (LHC) issued contempt notices to the Federal Board of Revenue (FBR) over its failure to implement the court’s orders pertaining to the minimum tax computation formula adopted by…
Income Tax Ordinance, 2001 provides for tax exemptions, tax credits, reduced tax rates, and reduction in tax liability. These tax exemptions are either based on specific type of taxpayers or for a…
The minimum turnover tax of 0.75 percent would be applicable on the oil marketing companies, Sui Southern Gas Company Limited and Sui Northern Gas Pipelines Limited, Pakistan International Airlines Corporation and poultry…
Federal Board of Revenue (FBR) has clarified that the table prescribing tax rates for minimum tax on turnover basis has been substituted in the Finance Bill-2021 to provide relief to retailers 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…