Pakistan emerges as ideal marked for investment

ISLAMABAD: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, Textile, Industries & Production on Sunday said that Pakistan has become a sought after destination for investment due to Government of Pakistan’s recently carved out investor friendly policies. He was addressing at Pakistan – Qatar Trade and Investment Conference that was held in Qatar […]

by Faisal Shahnawaz

Late filers may be allowed for Active Taxpayers List

KARACHI: Federal Board of Revenue (FBR) may allow taxpayers who filed their returns after due date to have their names on Active Taxpayers List (ATL).FBR sources said that the finance ministry had asked the revenue body to review the issue. The ministry of finance had received many representations on the issue.The government through Finance Act, […]

by Faisal Shahnawaz

Income Tax Ordinance 2001: advance tax on cash withdrawal

KARACHI: Every banking company is responsible for deducting and collecting a certain percentage of tax on cash withdrawal on Rs50,000 per day from an account. Since passage of Finance Supplementary (Second Amendment) Bill, 2019 from the parliament, the tax is no more on withdrawal by a filer of income tax return. Therefore, this tax is […]

by Faisal Shahnawaz