Changes to offences and penalties under Finance Act 2021
The Income Tax (Second Amendment) Ordinance, 2021 promulgated in March 2021 was proposed to be made…
Number of active taxpayers dropped by 30%
In a worrying development, the number of active taxpayers has dropped by 30% or 935,000 to just 2.2…
Penalties will not be imposed on late filers of income tax returns: FBR
The Federal Board of Revenue (FBR) has decided to not penalize late filers across the board for…
Taxpayers are still allowed to file income tax returns: FBR
The Federal Board of Revenue further clarified that taxpayers still allowed to file annual income…
Penalty for non-filing income tax returns, wealth statement, foreign assets/income statement & active status
Penalty for non-filing income tax returns, wealth statement, foreign assets/income statement &…
State Bank Action: Imposed penalties on four banks
State Bank of Pakistan Action against BankThe State Bank of Pakistan imposed over Rs 271 million…
