Updates
Income tax return filing reached at 2.93 million
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…
#TaxYear2020 Page 3
51 articles
Business
China launches 6G satellite: We are still on 4G
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…
Updates
CAF autumn result announced by ICAP today
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%…
Taxation
FBR launched Maloomat TaxRayApp: Signed MoU with NADRA: Acquired all data of filers & non-filers
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…
Markets
Good news: Petrol prices reduced by government
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…
Updates
Pakistan ranks 116 amongst 128 countries in the world on absence of corruption index
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…
Updates
Income Tax Returns of Members of National Assembly released
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…
Business
Digital Pakistan: PTCL to launch public Cloud platform
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…
Budget
Disallowance of Commission: Commission in respect of Third Schedule Items
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…
Taxation
FBR Extended Last Date For Filling Of Income Tax Returns Of Tax Year 2020
Federal Board of Revenue (FBR) extended last date for submission of annual income tax returns up to December 08, 2020. The last date for submission of tax return was 30th September 2020.…
Updates
Increase of tax on profit on debt for the persons other than companies
Previously, upto tax year 2019, the persons (mentioned in clauses a to d of sub section (1) of section 151) other than the companies were liable to tax on profit on debt…