FBR updates, income tax, budgets and markets for Pakistan
54 articles
Foreign Exchange (FE) circular No. 02 dated August 05, 2020 explains, a non resident person is eligible to open foreign currency account. State Bank of Pakistan clarified that non-resident person also eligible…
Active Taxpayer list (ATL) issued on the basis of Tax Year 2019. Statistics based on the Income tax returns submitted up to November 15, 2020. Last year on the basis of tax…
Whilst engineers in most countries are still trying to install 5G networks. China has sent the ‘world’s first 6G’ test satellite into orbit. China launched, along with 12 other satellites, from the…
Examination dates of CAF autumn attempt was from 21st to 26th September 2020. Commencement Date of submission of Forms was at 1st July 2020. Last date for submission of forms without 50%…
FBR has acquired all authentic information of all filers and non-filers, which include: 1 million filers claiming to have non-taxable income but evidence to the contrary exists. More than 3.5 million NTN…
The petroleum products prices reduced by the federal government on Sunday. PTI government issued a notification through Ministry of Finance, announcing to reduce petrol prices to Rs100.69 per liter. The per-litre prices…
Pakistan ranked 116th among 128 countries on the absence of corruption index. A World Justice Project (WJP) Survey conducted by Gallup Pakistan. Survey results based on Factor 2 of the World Justice…
Details of the tax returns of the members of the National Assembly for the year 2019-20 have been released. Prime Minister Imran Khan owns assets worth more than Rs 80 million, 4…
Digital Pakistan is another step forward towards technological prosperity of Pakistan. It is a change which aimed that all segments of the society will have equal access to the government services. Pakistan…
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…
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FBR warns retail stores to register with point of sale (POS) System to avoid heavy fines and using this system will end periodic examinations by the Federal Board of Revenue. It will…
The Federal Board of Revenue (FBR) on Wednesday implemented rules for taxing imported goods. FBR introduced it through (Twelfth Schedule of Income Tax Ordinance, 2001) Schedule XII of the Income Tax Ordinance…
After registering a local office called Amazon Data Services Pakistan (Pvt) Ltd., Amazon is forming a team for Amazon Web Services (AWS) in Pakistan to adopt cloud computing. The move comes two…