Late return filers may be allowed entry into ATL

ISLAMABAD: The government may allow late filers of income tax returns to get their names into the Active Taxpayers List (ATL), which is mandatory for availing reduced rate of withholding tax. Read more »

Withholding income tax rates at import stage for tax year 2019

KARACHI: The collector of customs has been empowered to collect withholding income tax from importer of goods. Read more »

Lahore customs intelligence to auction 30 confiscated luxury vehicles on January 24

ISLAMABAD: The Directorate of Customs Intelligence and Investigation, Customs will conduct auction of 30 confiscated vehicles including luxury cars and heavy motor cycles on January 24, 2018 at state warehouse of the... Read more »

Collection of withholding tax at import stage under Income Tax Ordinance 2001

KARACHI: The collector of customs has been empowered to collect advance tax from every importer of goods on the value of goods. Read more »

Customs destroys counterfeit products worth Rs120 million

KARACHI: Pakistan Customs on Wednesday destroyed huge quantity of counterfeit products worth Rs120 million in order to enforce laws related to intellectual property rights. Read more »

Customs imposes 10pc fine for releasing unregistered phones

KARACHI: The Federal Board of Revenue (FBR) on Wednesday imposed a fine of 10 percent on the total amount of duty and taxes involved for the clearance of unregistered mobile phones. Read more »

Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax

ISLAMABAD: Federal Board of Revenue (FBR) has said that salary individuals having taxable income above Rs800,000 to Rs12,000 shall pay Rs2,000 as minimum tax for Tax Year 2019.     According to... Read more »

Ministry notifies forex condition on clearance of imported vehicles under concessionary scheme

ISLAMABAD: The ministry of commerce has issued a notification making it mandatory the clearance of new/used imported vehicles under concessionary schemes through payment in foreign exchange.       The ministry issued... Read more »

MCC Preventive auctions confiscated vehicles on January 18

KARACHI: Model Customs Collectorate (MCC) Preventive will conduct public auction of confiscated vehicles on January 18, 2019 to be held at Headquarters of Anti-Smuggling Organization (ASO), Ghasbandar, Karachi. Read more »

Advance tax on domestic, international air tickets adjustable

KARACHI: The advance tax rates have be prescribed on domestic and foreign air tickets to be collected from purchaser of the tickets. Read more »

FBR to issues assessment notices of last ten years to potential taxpayers

KARACHI: Federal Board of Revenue (FBR) to issue assessment notices of last ten years to potential taxpayers or those who failed to file return any of last five years. The FBR recently... Read more »

FBR notifies transfer, postings of 17 IRS officers

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of Inland Revenue Service (IRS) officers of BS-17-19 with immediate effect and until further orders.       The FBR... Read more »