FBR updates, income tax, budgets and markets for Pakistan
13 articles
National Assembly Passes Finance Supplementary Bill 2023 | Mini Budget. On Monday National Assembly of Pakistan passed the Finance (Supplementary) Bill, 2023. Proposed additional taxes and duties of Rs. 170 billion, opening…
Salient Features of Finance Supplementary Bill 2023 | Mini Budget. Following are Salient features of mini budget or Finance Supplementary Bill, 2023 presented by Finance Minister Ishaq Dar in the National Assembly…
FBR Increased Sale Tax Rate in Pakistan 2023. Standard rate of General sales tax has been increased from 17% to 18%. Moreover, it would go into effect immediately from 15 February 2023.…
Presentation was given by the leading hospitals to the Federal Board of Revenue (FBR) Chairman disclosed that the omission of entry number 52-A from the Sixth Schedule of the Sales Tax Act,…
The Federal Board of Revenue (FBR) has changed the definition of the exported goods for claiming duty drawback covering supplies against international tenders or supply to industrial units, projects, institutions, agencies, and…
According to Registration provisions under Section 14(1) of Sales Tax Act, 1990, Every person engaged in making taxable supplies in Pakistan, including zero-rated supplies, in the course or furtherance of any taxable…
The Federal Board of Revenue (FBR) has decided to outline guide techniques for Inland Revenue Officers for effective monitoring of sales and clearances of goods at the big retail outlets and manufacturing…
Under Section 32A of Sales Tax Act, 1990 FBR is authorized to appoint special panels for conducting sales tax audit. The Federal Board of Revenue (FBR issued the Sales Tax Act, 1990…
The government is considering over a presidential ordinance to withdraw sales tax exemptions, zero-rating, and reduced sales tax rates to the tune of Rs330 billion within the next 10 to 15 days,…
The Federal Board of Revenue (FBR) has suspended the provision of sales tax collection on sugar from the manufacturers on the basis of the retail price up to November 30, 2021. The…
Tax Updates | Federal Board of Revenue | Tax News | Income Tax Ordinance 2001 | Sales Tax Act 1990 | FBR |
Scope of tax Under Section - 3(1) Scope of tax Under Section - 3(1) Subject to the provisions of this Act, there shall be charged, levied and paid a tax known as…
Amendment made through Finance Act 2019, to disallow any expenditure incurred on account of commission in respect of supplies covered by the Third Schedule to the Sales Tax Act, 1990 (STA), if…