Sindh notifies new motor vehicle tax rates

KARACHI: The Sindh government has notified new rates of motor vehicle tax effective from July 01, 2019 amendment through Provincial Finance Act, 2019 for the year 2019/2020. Read more »

No immunity to concealed income invested in immovable properties

ISLAMABAD: People purchasing immovable properties are now required to make true declaration as immunity to such investment has been withdrawn. Read more »

FBR directs banks to provide details of depositors receiving Rs500,000 as profit on debt per year

KARACHI: Federal Board of Revenue (FBR) has directed banks to provide details of all those persons receiving interests above Rs500,000 in a year on their deposits. Read more »

Consumers may not able to get 5pc sales tax rebate till FBR notification

ISLAMABAD: General public may not be able to avail 5 percent rebate on their purchases until a notification is issued by the Federal Board of Revenue (FBR). Read more »

CNIC condition not applicable on purchases below Rs50,000

KARACHI: The condition of providing CNIC details is not applicable on purchases up to Rs50,000 by a person, said Zeeshan Merchant, former vice president of Karachi Tax Bar Association (KTBA). Read more »

Reduced sales tax rates on supply of gold, jewelry imposed

KARACHI: Federal Board of Revenue (FBR) has brought gold, jewelry and other precious articles into sales tax ambit by introducing reduced rates on supplies. Read more »

Traders announces three-day shutter down protest against tax measures from July 08

KARACHI: Small traders have announced three-day shutter down protest in the commercial and financial hub of the country against the changes in tax regime, which are implemented through Finance Act, 2019. Read more »

Aviation industry allowed duty free import of aircraft, spare parts

KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of aviation related goods including aircraft and spare parts under National Aviation Policy 2015. Read more »

Finance Act 2019: FED imposed on all imported vehicles

KARACHI: The government has imposed federal excise duty on all imported vehicles through Finance Act, 2019, which is inline with the levy of excise duty on locally manufactured vehicles. Read more »

Finance Act 2019: CNIC condition for sales tax invoices applicable from August 01

KARACHI: The condition of obtaining CNIC number for unregistered persons at the time of supplies by registered person will be applicable from August 01, 2019. The condition has been proposed to be... Read more »

Finance Act 2019: Capital gain tax on immovable properties exempted on holding period above 8 years

KARACHI: The government has exempted the capital gain tax on immovable property where holding period is above eight years. The amendment has been brought through Finance Act, 2019 as it was proposed... Read more »

Finance Act 2019: FBR to question source of foreign remittances above Rs5 million per year

ISLAMABAD: Federal Board of Revenue (FBR) will question the sources for all those foreign remittances exceeding Rs5 million in a year, which are transferred through normal banking channels. Read more »