Govt decides to withdraw arrestment powers on concealment of Income
June 22, 2021
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The real estate sector has demanded in the next budget that the construction package of the Prime Minister and the related amnesty scheme be extended till June 30, 2022. 50% reduction in all fees on…
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Anti-poverty activists on Monday criticized the agreement reached by seven rich countries (G7) to impose a minimum tax on multinational companies, saying it would benefit rich countries at the expense of the poor. The finance…
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Here, Tax deadlines for 2021, Income Tax Due dates or Tax Calendar is given for Individuals, Association of Persons (AOPs) and Company (Corporate Sector) of Pakistan and for World Corporate Income Tax deadlines for all…
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The federal government of Pakistan has fixed Nisab for Zakat deduction on bank accounts for the current year 2021 at Rs 80,933. A notification issued by the Administrator-General Zakat about zakat Nisab. Where the Nisab…
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The Federal Board of Revenue (FBR) submitted a bill to the National Assembly (NA) secretariat, consisting of tax amendments to withdraw about 36 tax exemptions. It will be applicable from July 1 2021 under the…
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FBR Encouraged taxpayers to resolve cases through ADRC immediately. FBR issued a press release at February 02, 2021 for information of the taxpayer about the system of Alternative Dispute Resolution Committees (ADRC) and encouraged taxpayers…
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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…
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Corruption in Pakistan is higher than in Afghanistan as Transparency International (TI) released its annual report on Thursday, which shows that the corruption situation in Pakistan worsened in 2020. According to the 2020 Corruption Perceptions…
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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…
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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…
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