FBR empowered to probe foreign remittances above Rs5 million received in a year

ISLAMABAD: Federal Board of Revenue (FBR) has been empowered to probe source of foreign remittances above Rs5 million received by a person in a year. Read more »

Finance Bill 2019: Banks to pay 37.5pc tax on profit from investment in govt securities

ISLAMABAD: Banks shall pay 37.5 percent income tax on profit from investment in government securities, according to proposals made through Finance Bill, 2019. Read more »

Finance Bill 2019: Advance tax increased by 900 percent on renewal of license by arhatis

ISLAMABAD: The government has increased the advance tax by 900 percent (nine times) at the time of renewal of license by middleman of a commodity markets in agriculture sector. Read more »

Finance Bill 2019: Penalty proposed for non-banking real estate transactions

ISLAMABAD: The government has tightened rules for transactions of immovable properties and through Finance Bill 2019 it is proposed that non-banking real estate transactions would liable for penalty. Read more »

Finance Bill 2019: Law proposed to initiate criminal proceedings against FBR officials

ISLAMABAD: The government has framed law to initiate criminal proceedings against officers and officials of Federal Board of Revenue (FBR) for committing corruption. Read more »

Finance Bill 2019: tax rate enhanced up to 20pc on profit on debt

ISLAMABAD: The rate of tax has been increased up to 20 percent from 15 percent on profit on debt through Finance Bill, 2019. Read more »

Finance Bill 2019: turnover tax enhanced to 1.5 percent

ISLAMABAD: The rate of minimum turnover tax has been increased to 1.5 percent from 1.25 percent in the budget 2019/2020 presented a day earlier. Read more »

Finance Bill 2019: late filer salary persons allowed ATL entry

ISLAMABAD: The government has allowed late filers to include Active Taxpayers List (ATL) after payment of penalty. Presently, as per law the late filers are not allowed to ATL entry till next... Read more »

Finance Bill 2019: FTR abolished on stock brokers’ commission

ISLAMABAD: The government has withdrawn Final Tax Regime (FTR) for stock brokers for the purpose of taxation on commission earned by them. The proposal has been presented through Finance Bill, 2019 before... Read more »

Finance Bill 2019: Amnesty on immovable property purchase withdrawn

ISLAMABAD: The government has withdrawn a permanent amnesty for not explaining the source of investment in purchasing immovable properties. Read more »

Finance Bill 2019: Final Tax Regime withdrawn

ISLAMABAD: The government has decided to withdraw Final Tax Regime (FTR) and bring various sectors into the documented economy. Read more »

Finance Bill 2019: Tax card for business individuals, salary income less than 75pc for tax year 2020

ISLAMABAD: The government has proposed new tax slabs for business individuals in tax year 2020 through Finance Bill 2019. Read more »