KARACHI: Federal Board of Revenue (FBR) has explained the procedure for filing application for availing reduced rate of withholding income tax on import of raw material through online system – Iris.
KARACHI: The number of active taxpayers has surpassed 1.8 million for tax year 2017, according to latest weekly Active Taxpayers List (ATL) released by Federal Board of Revenue (FBR).
KARACHI: Federal Board of Revenue (FBR) has recently issued updated Income Tax Ordinance, 2001 and explained the concealed or unexplained income for the purpose of tax chargeability.
KARACHI: Banks have been required to deduct 5 percent withholding tax at 5 percent on payments for off-shore digital services.
ISLAMABAD: Federal Board of Revenue (FBR) has said that 20 percent as final tax will be collected from person paying an amount against production of commercial or advertisement to a foreign entity.
KARACHI: The rate of withholding tax on prizes and winning under Section 156 of Income Tax Ordinance, 2001 for Tax Year 2019.
KARACHI: Federal Board of Revenue (FBR) has issued rate of withholding tax to be collected on income from property during Tax Year 2019.
ISLAMABAD: The tax authorities are facing challenging revenue collection after imposing curbs on non-filers in the budget 2018/2019.
ISLAMABAD: Federal Board of Revenue (FBR) notified transfers and postings of 52 officers of Inland Revenue Service (IRS) in a major reshuffle on Saturday.
KARACHI: Federal Board of Revenue (FBR) has notified the applicable duty and tax rates on import of mobile phones.
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.
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.