FBR updates, income tax, budgets and markets for Pakistan
14 articles
What is the Last Date to File Corporate Tax Return. Corporate sector business means an entity that is registered as a private/public limited company in a country. Like in Pakistan, companies are…
What is the Latest News about the Extension on the Last Date for Filing Tax returns in 2022? Income Tax Return Filing Date Expires on September 30, 2022. We are a few…
Last Date of Income Tax Return 2022 Income Tax Return (ITR) Filing for financial year 2021-22 (Tax Year 2022): We are a few days away from the deadline for filing our income…
Global Tax Consultants in Lahore, Pakistan is an experienced tax consultants organization. Established by Mr. Fayyaz Ahmed Khan. Having CA (CAF), MA (Eco.,), B.com, Income tax practitioner (ITP) of FBR, CA articles…
The Federal Board of Revenue (FBR) will publish the Active Taxpayers’ List (ATL) for the Tax Year 2021 on 1 March 2022 in accordance with the provisions of Rule 81B of the…
In case a person unable to file annual Income Tax return and wealth statement by due date he has right to get extension in date for filing annual income tax returns on…
Federal Board of Revenue (FBR) Thursday decided for no extension in tax returns filing date after September 30, 2021 to ensure the in-time tax collection in the country. Improvement of tax compliance…
Income Tax Return relates to a specific tax year. A tax year is a period of twelve months ending on 30th day of June i.e. the financial year and is denoted by…
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…
The FBR updated the last weekly ATL for the tax year 2019 on February 22, 2021 and obtained a record number based on the returns filed by February 21, 2021. FBR is…
Federal Board of Revenue (FBR) has softened its stance on imposing fines on late filers in the tax year 2020-21. Although the tax authority has not imposed any fines, the fines have…
The Federal Board of Revenue has issued a statement stating that there has been a significant improvement in the collection of income tax returns for the tax year 2020. As of December…
For the betterment of the taxpayers, the FBR has clarified that they should file their tax returns. As soon as possible as those who file late returns will be penalized accordingly. It…
Offence: Where any person fails to furnish a return of income as required under section 114 within the due date. Penalties: Such person shall pay a penalty equal to 0.1% of the…