FBR updates, income tax, budgets and markets for Pakistan
80 articles
New Taxes on E-commerce Transactions in Pakistan: In the recent budget (Finance Act 2025) Government of Pakistan has taken some significant steps towards the taxation of local ecommerce industry of Pakistan. The…
Tax Exemption of Foreign Source Income of Returning Expatriates. According to Section 51 of Income Tax Ordinance, 2001 foreign source income of returning expatriates is exempt from tax. Following is the text…
Are taxes due at midnight on the 18th April 2023. Today is the last day for filing annual income tax returns. April 18 is the tax deadline, and if you have not…
What is section 7e of the Income Tax Ordinance 2001. According to the FBR, a new section 7E was introduced through Finance Act, 2022. Whereby for the tax year 2022 and onwards,…
When will the IRS accept 2023 Tax Returns. The first formal day to file your tax year 2022 tax return is from January 23, 2023. Moreover, one thing to remember is that…
FBR achieves record growth in tax collections. Federal Board of Revenue has reported a record revenue collection performance in the first six months of the current financial year 2022-23. According to FBR:…
Sindh Revenue Board collects record revenue in December. Here is a good news that Sindh Revenue Board (SRB) has made a record revenue collection of Rs 17.6 billion in December 2022. According…
FBR Reduces Additional Customs Duty on Import of Agriculture Tractors. The Federal Board of Revenue (FBR) has announced to reduce additional customs duty from 35 per cent to 15pc on the import…
What is the Difference Between Tax and Zakat? The primary objective of Both the Zakat and tax is to collect it from higher income groups of the society and distribute or expense…
Argentina Government will Give Workers Tax Relief from November. Due to the high inflation rate in the country, Argentina’s Economy Minister Sergio Massa said on Sunday the government will give workers tax…
FBR directed the Integration of Big Retailers with the POS System. The Federal Board of Revenue (FBR) on Tuesday directed the chief commissioners of the Regional Tax Offices (RTOs) to take steps…
Federal Board of Revenue is a premier organization for management of tax system in Pakistan. FBR has some portals for this purpose like, www.e.fbr.gov.pk , FBR Maloomat and Iris FBR portal. Iris…
In order to facilitate the recovery of Government receipts, duties, and taxes at May 2022 end. State Bank of Pakistan decided that the field offices of SBP Banking Services Corporation (SBP-BSC) and…
Apple Iphone 6 is a device launched in Pakistan. The official price of this phone is 46899 Rupees. The Apple Iphone 6 price in the country is more then $130/- which includes…
Apple IPhone XS Max is a device launched in Pakistan. The official price of this phone is 167499 Rupees. The Apple IPhone XS Max price in the country is more then $130/-…
The Federal Board of Revenue (FBR) will enforce new amendment to Section 122 of the Income Tax Ordinance, 2001 for completion of proceedings against taxpayers within 120 days where notices were issued…
Pakistan Single Window (PSW) is a newly launched trade system, which provides a facility to parties involved in trade and transport to lodge standardized information and documents with a single entry point…
Federal Board of Revenue has issued a clarification on a news story titled “FBR issues thousands of suspicious exemption certificates” appearing in a magazine with the name “Profit” in its edition of…
The government of Balochistan has installed online tax collection system. This online tax system will help to boost the the revenue receipts and will promote tax culture in the biggest province of…
Lee Kun-hee (9 January 1942 – 25 October 2020) was a South Korean businessman and industrialist who served the chairman of Samsung Group from 1987 to 2008 and from 2010 to 2020.…