1. Home
  2. #TaxReturnServiceProvidersLahorePakistan

Tag: #TaxReturnServiceProvidersLahorePakistan

FINANCE
Last date to file income tax returns and extended timings of FBR and Banks

Last date to file income tax returns and extended timings of FBR and Banks

Notification of FBR for Collection of Duty & Taxes on 15th October, 2021, C.No. 1(137) STM/2017/16485/R “I am directed to refer to the subject and to state that all LT0s/MT0/CTOs/RTOs shall remain open and observe…

UPDATES
FBR issues clarification on suspicious exemption certificates

FBR issues clarification on suspicious exemption certificates

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 10th August, 2021. The…

TAXATION
Deadline and penalty for Tier-1 retailers and other tax provisions relating there to

Deadline and penalty for Tier-1 retailers and other tax provisions relating there to

FBR directs Tier-1 Retailers to integrate with revenue authority till August 15. The Federal Board of Revenue (FBR) has advised Tier-1 Retailers to integrate their invoicing systems with the tax Realtime invoicing system of Federal…

TAXATION
Tax on Agricultural Income in Pakistan

Tax on Agricultural Income in Pakistan

Tax on Agricultural Income in Punjab Agricultural income is an exempt income from tax under section 41 of the Income Tax Ordinance, 2001. Such exemption from tax under ITO 2001 ( section 41 & section…

UPDATES
FBR opposed to restore the zero rating system

FBR opposed to restore the zero rating system

The Federal Board of Revenue (FBR) has opposed the proposal to restore the zero-rating system in the textile sector or introduce lower sales tax rates in five export sectors. According to media reports, exporters have…

Businesses
IT Exports Increased by 40%

IT Exports Increased by 40%

According to the Ministry of information and communication technology (ICT) exports of IT and telecommunication during July-December of the fiscal year 2020-21 increased by 40% to US 958 million. This growth attributed to the increase…

UPDATES
Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR

Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR

Mohsin Rafique of Collector Customs Appraisement Lahore informed in a seminar held at APTMA, Lahore that from January 20, 2021, all duties and taxes of more than one million will be paid through e-payment system…

UPDATES
FBR extends scope of sales tax on IT Services and IT Enabled Services

FBR extends scope of sales tax on IT Services and IT Enabled Services

The Federal Board of Revenue (FBR) has extended scope “IT Services” and “IT Enabled Services” to collect 16% sales tax from service providers under the jurisdiction of the Islamabad Capital Territory (ICT). The FBR issued…

TAXATION
Income Tax Return Filing reached at it’s peak

Income Tax Return Filing reached at it’s peak

Income tax return filing reached at it’s peak of 3.03 million for tax year 2019, according to weekly Active Taxpayers List (ATL) updated on Monday. The FBR issued the weekly ATL – 2019 updated on…

UPDATES
e-payment limit of taxes abolished

e-payment limit of taxes abolished

Payment of customs duty and taxes of more than Rs 1 million will also be accepted through e-payment after January 20. To this end, a joint meeting has been convened by the State Bank of…

Share it !