FED rates revised for locally manufactured, imported vehicles

KARACHI: The government has enhanced Federal Excise Duty (FED) rates up to 30 percent on imported vehicles through Finance Supplementary (Second Amendment) Bill, 2019. Read more »

Sales tax rates revised for imported mobile phones

KARACHI: The government has revised the sales tax on mobile phones at the time of import or local supply and sales tax chargeable at the time of registration of IMEI number by... Read more »

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

KARACHI: The government will issue promissory notes for payment of sales tax refunds and an annual profit of 10 percent will be given on these financial instruments, sources in Federal Board of... Read more »

Finance Supplementary Bill: Major changes introduced to income tax

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into income tax regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Finance Supplementary Bill: FBR issues salient features of sales tax and federal excise duty

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into sales tax and Federal Excise Duty (FED) regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on... Read more »

Finance Supplementary Bill: FBR issues salient features of customs duty regime

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into Customs duty regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Reduced income tax rate of Rs5,000 for marriage halls

KARACHI: The government has introduced a reduced rate of income tax of up to Rs5,000 for marriage functions organized in an area less than 500 square yards. Read more »

Only non-filers to pay withholding tax on cash, non-cash banking transactions

KARACHI: The government has facilitated compliant taxpayers by abolishing withholding tax on cash withdrawal from banks by filers of income tax returns. Read more »

New withholding tax card for imported mobile phones proposed

KARACHI: The government has proposed new withholding tax rates for imported mobile phones through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Super tax rate enhanced for banks; non-banks to be exempted from tax year 2020

KARACHI: The government has enhanced rate of super tax for banking companies to 4 percent till the tax year 2021. Read more »

No advance tax on sale, purchase of shares from February 01

KARACHI: The government has abolished a provision for collection of advance tax at 0.02 percent on sale and purchase of shares in stock exchange. Read more »

Setting up transfer pricing directorate withdrawn

KARACHI: The government has withdrawn setting up Directorate General of Transfer Pricing that was established to conduct audit for determination of transfer price at arm’s length transactions. Read more »