FBR transfers 52 IRS officers in major reshuffle

ISLAMABAD: Federal Board of Revenue (FBR) notified transfers and postings of 52 officers of Inland Revenue Service (IRS) in a major reshuffle on Saturday. Read more »

Tax bars express concerns over short-term stay orders

KARACHI: Shahid Masood Manzar, Chairman, Appellate Tribunal Inland Revenue (ATIR) has visited Karachi Tax Bar Association to discuss early disposal of cases. Read more »

Exemption to judges of superior courts under Income Tax Ordinance 2001

KARACHI: The federal government has exempted from tax on benefits and allowances availed by judges of Supreme Court of Pakistan and judges of high court. Read more »

Applicable duty, tax rates on mobile phones

KARACHI: Federal Board of Revenue (FBR) has notified the applicable duty and tax rates on import of mobile phones. Read more »

FBR withdraws sales tax zero-rating on electricity supply to two textile units

KARACHI: Federal Board of Revenue (FBR) has suspended sales tax zero rating on supply of electricity to two textile units on misuse of tax concession facility. Read more »

Withholding tax rates on profit on banking deposits

KARACHI: Every banking company shall collect withholding tax under Section 151(1)(b) of Income Tax Ordinance, 2001 from persons receiving profits on their deposits maintained at respective banks. Read more »

PTBA calls for including late filers into Active Taxpayers List by deleting Section 182A

KARACHI: Pakistan Tax Bar Association (PTBA) on Friday requested Finance Minister Asad Umar to withdraw Section 182A of Income Tax Ordinance in the forthcoming Supplementary Finance Bill, 2019 to encourage the potential... Read more »

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 »