Late filers to become part of ATL as FBR extends last date for filing return up to March 31

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing income tax returns and wealth statements up to March 31, 2019, which will enable the late filers to become... Read more »

Income Tax Ordinance 2001: advance tax on domestic, international air tickets

KARACHI: Passengers traveling through domestic or international airlines are required to pay certain amount of advance tax on purchase of air tickets. According to Income Tax Ordinance, 2001 issued by Federal Board... Read more »

FBR transfers 53 BS-19 customs officers in major reshuffle

ISLAMABAD: Federal Board of Revenue (FBR) in a major reshuffle on Thursday transferred 53 BS-19 officers of Pakistan Customs Service (PCS) with immediate effect and until further orders. Read more »

Foreign Remittances: Non-filers get exemption on cash withdrawal

KARACHI: The government has granted exemption from deduction of income tax on cash withdrawal by non-filers from Pak Rupee bank accounts, which have been opened for receiving foreign remittances. Read more »

Advance tax rates enhanced by 50pc for non-filers on motor vehicle purchase

KARACHI: The government has allowed non-filers to purchase locally manufactured motor vehicles but at the same time the advance tax rates for non-compliant taxpayers have been increased by 50 percent. Read more »

Return filers enjoy tax free banking transactions

KARACHI: The income tax filers have started enjoying withholding tax exemption on transactions of money through banking channels. Read more »

Duty free import of plant, machinery allowed for industrial units

KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of plant and machinery by industrial and manufacturing units. Read more »

Mobile handset levy increased up to Rs7,000 per set

ISLAMABAD: The government has increased mobile handset levy up to Rs7,000 per set from the date of implementation of Finance Supplementary (Second Amendment) Act, 2019. The government through Finance Act, 2018 introduced... Read more »

Finance Supplementary (2nd Amendment) Act 2019: Directorate set up for tax recovery from undeclared offshore assets

ISLAMABAD: The federal government has set up Directorate General of International Tax Operations for recovery of tax in undeclared off-shore assets and incomes. Read more »

Finance Supplementary (2nd Amendment) Act 2019: motor vehicle purchase restriction on non-filers withdrawn

ISLAMABAD: The federal government has allowed non-filers of income tax returns to purchase locally manufactured motor vehicles. Read more »

Finance Supplementary (2nd Amendment) Act 2019: FBR to issue sales, income tax refund bonds

ISLAMABAD: Federal Board of Revenue (FBR) will issue sales tax and income tax refund bonds through its subsidiary company ‘FBR Refund Settlement Company (Private) Limited. Read more »

FBR imposes regulatory duty up to Rs18,500 per mobile phone

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed regulatory duty up to Rs18,500 per set on import of mobile phones. Read more »