Capital market seeks income tax exemption on foreign investment
Pakistan’s capital market has recommended tax exemption on income derived from foreign investments.
Pakistan’s capital market has recommended tax exemption on income derived from foreign investments.
Pakistan Stock Exchange (PSX) in its proposals for budget 2023-2024 suggested to align rates of capital gains tax on disposal of listed securities with the rates of CGT on sale of immovable property.
ISLAMABAD: The Federal Board of Revenue (FBR) has opened the door for proposals to amend laws related to sales tax and Federal Excise Duty (FED) as part of the upcoming budget for the fiscal year 2023-2024.
ISLAMABAD: The Federal Board of Revenue (FBR) has called for proposals to eliminate exemptions and concessions under income tax laws as part of the formulation process for the budget 2023-2024.
ISLAMABAD: Pakistan has granted five-year tax exemption on income derived from cinema operations in order to promote local film industry. The tax exemption has been granted under Income Tax Ordinance, 2001 by amendment made through Finance Act, 2022. READ MORE: Advance tax on immovable property enhanced by 100% The Federal Board of Revenue (FBR), the […]
ISLAMABAD: The rate of advance tax on sale and purchase of immovable property has been enhanced by 100 per cent. The tax rate has been enhanced on property transaction through Finance Act, 2022. READ MORE: FBR explains changes in advance tax on motor vehicles The FBR issued Income Tax Circular No. 15 of 2022/2023 to […]
ISLAMABAD: The Federal Board of Revenue (FBR) has explained changes made to advance tax on motor vehicles through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments brought through Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said that provision of section 231B of […]
ISLAMABAD: Pakistan has introduced an automated system for real-time payment for withholding tax. The system has been introduced through the Finance Act, 2022 by making amendment to the Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR), the apex tax collecting agency of Pakistan, issued Income Tax Circular No. 15 of 2022/2023 to explain […]
ISLAMABAD: The Federal Board of Revenue (FBR) has said that tax has been imposed on foreign payments made by exchange companies. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments brought through Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: Minimum tax for commercial importers enhanced: FBR […]
ISLAMABAD: The Federal Board of Revenue (FBR) said that withholding tax for commercial importers has been enhanced to 3.5 per cent from 2 per cent. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: Tax through electricity […]