FBR updates, income tax, budgets and markets for Pakistan
7 articles
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…
What is Section 154A 1% Tax on IT Export Services? As you know Income from IT and IT-enabled services were exempt from income tax previously. Then through tax laws (Second Amendment) Ordinance…
Tax Exemption Granted to Donations for Prime Minister Flood Relief Fund:. Flood conditions has badly affected many parts of Pakistan, especially rural areas of the country. In this regard, the federal government…
No More Income Tax on Educational Fees Under Section 236I Previously FBR charged Advance Income Tax @5% on educational / Tuition fees of students. Chargeable to students whose parents or guardians were…
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has assured land developers that the federal government will extend the exemption on wealth reconciliation statement for first-time home buyers beyond…
Profits arrived from the business unit of an electric power generation project established in Pakistan are exempt from tax. Profits earned by a company from the export of computer software, IT services,…
The package came into force under Section 100D of the Income Tax Ordinance 2001 and the Eleventh Schedule Amendment under the Tax Laws Amendment Ordinance 2020. Construction package is applicable to land…