Aug 11

FBR notifies last date of payment, sales tax return filing by electricity, gas companies

ISLAMABAD: Federal Board of Revenue (FBR) has notified date for payment and filing monthly sales tax returns by electricity and gas distribution companies. The FBR amended Rule 18 of Sales Tax Rules, 2006 through SRO 918(I)/2019 dated August 07, 2019, under which registered persons are required to file monthly sales tax electronic returns. According to […]

by Mrs. Anjum Shahnawaz

Investment in saving certificates rises by 19 percent to Rs2,217 billion

KARACHI: The investment in saving certificates has registered 19 percent growth to increase Rs2,217 billion in the last fiscal year owing to better rate of interest and safe investment avenue. The data released by State Bank of Pakistan (SBP) revealed that the investment increased to Rs2,217 billion by June 2019 as compared with Rs1,865 billion […]

by Mrs. Anjum Shahnawaz

FBR excludes self-generated goodwill from intangibles

ISLAMABAD: Federal Board of Revenue (FBR) has said that self-generated goodwill or any adjustment arising on account of account treatment as may be prescribed in rules has been excluded from the definition of intangibles. Explaining the changes made to Income Tax Ordinance, 2001 through Finance Act, 2019, the FBR said that the term intangible has […]

by Mrs. Anjum Shahnawaz