Oct 24

No audit of IT sector due to fixed tax regime: FBR chairman

ISLAMABAD: Asim Ahmad, Chairman, Federal Board of Revenue (FBR) on Monday said there is no audit of the IT sector due to fixed tax regime. There is no audit of IT sector export-oriented companies through budgetary measures in the current financial year for ensuring ease of doing business and reducing the cost of tax compliance. […]

by Mrs. Anjum Shahnawaz

Non-ATL retailers to pay double amount of fixed tax

Jul 5

Budget 2022-2023, Taxation, Top stories

Non-ATL retailers to pay double amount of fixed tax

ISLAMABAD: Small retailers or a shopkeepers have to pay double the amount of fixed tax in case of not appearing on the Active Taxpayers List (ATL). The federal government through the Finance Bill, 2022 introduced a scheme of fixed tax for small retailers. However, the National Assembly approved the bill with certain changes in the […]

by Mrs. Anjum Shahnawaz

FBR may fix Rs20,000 per year as income tax for shopkeepers

Jan 10

Taxation

FBR may fix Rs20,000 per year as income tax for shopkeepers

ISLAMABAD: Federal Board of Revenue (FBR) likely to fix an amount of Rs20,000 per year as income tax for shopkeepers operating business in a covered area up to 150 square feet. This fixed rate shall be for shopkeepers not in categorized areas. Sources in FBR said that the fixed tax rates likely to be for […]

by Mrs. Anjum Shahnawaz

FBR constitutes consultative committee for fixed tax scheme

Aug 17

Taxation

FBR constitutes consultative committee for fixed tax scheme

ISLAMABAD: The chairman of Federal Board of Revenue (FBR) on Friday constituted a committee to finalize fixed tax scheme and simplified tax procedure for traders. The committee has been constituted comprising following members: 01. Ms. Nausheen Amjad, Member (TPA) – Convener 02. Faheem ul Haq, Member, Accounting 03. Ms. Seema Shakeel, Member (IR-Operations) 04. Dr. […]

by Mrs. Anjum Shahnawaz