2019/2020: Withholding tax rates on insurance premium

ISLAMABAD: The insurance companies are required to deduct/collect withholding tax only from persons not appearing on the Active Taxpayers List (ATL) at the time of collection of insurance premium. Read more »

Customs intelligence official awarded ‘dismissal from service’ on corruption charges

ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of ‘dismissal from service’ upon customs intelligence official on the charges of corruption, misconduct and inefficiency. Read more »

FBR promotes 57 officials to post of superintendents (BS-16)

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday promoted 57 officials including superintends, inspectors, intelligence officers of customs department to the post of Superintendent (BS-16) and notified their transfer and postings with... Read more »

FBR allows retail price printing relaxation on imported consumer items

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday extended relaxation on mandatory printing of retail prices on imported consumer items after receiving several representations from stakeholders. Read more »

2019/2020: FBR explains withholding tax on profit on debt

ISLAMABAD: Federal Board of Revenue (FBR) has explained levy of withholding tax on profit on debt for tax year 2019/2020 applicable from July 01, 2019. Read more »

Customs agents express concerns over delay in grounding of containers

KARACHI: The Karachi Customs Agents Association (KCAA) has expressed concerns over the delay in grounding of containers at Karachi International Container Terminal Ltd. (KICTL) and said it may result in choking of... Read more »

FBR estimates Rs20 billion annual revenue loss in illicit tobacco trade

ISLAMABAD: Federal Board of Revenue (FBR) has estimated around Rs20 billion as revenue loss due to illicit trade of tobacco products. Read more »

FBR imposes major penalty on four customs officials

KARACHI: Federal Board of Revenue (FBR) has imposed major penalty on four customs officials for misconduct and inefficiency. Read more »

2019/2020: Withholding tax rates issued on payment for goods and services

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates on payment for goods and services during tax year 2019/2020 under Section 153 of Income Tax Ordinance, 2001. Read more »

FBR issues withholding tax rates on cash, online banking transactions

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2019/2020 and prescribed the rate of withholding income tax to be deducted/collected on transactions made through banking system... Read more »

RTO Karachi launches crackdown against tax evaders in car sale, purchase business

KARACHI: Regional Tax Office (RTO)-II Karachi has launched crackdown against tax evaders engaged in business of car sale, purchase and service. Read more »

FBR explains federal excise duty on edible oils

ISLAMABAD: Federal Board of Revenue (FBR) has issued explanation to implementation of federal excise duty on edible oils. Read more »