Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of charitable organizations eligible for tax exemption on their incomes during the tax year 2024.
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.
Karachi, January 10, 2024 – Pakistan has introduced income tax exemptions on various allowances granted to judges of higher courts during the tax year 2024.
Karachi, January 9, 2024 – The Federal Board of Revenue (FBR) has recently announced a tax exemption on various perquisites granted to employees by virtue of their employment.
Karachi, January 8, 2024 – The Federal Board of Revenue (FBR) has announced a tax exemption for gratuity payments during the tax year 2024.
Karachi, November 16, 2023 –Section 99D of the Income Tax Ordinance, 2001, has granted the federal government the authority to levy an additional tax on windfall profits across various sectors of the economy, according to sources within the Federal Board of Revenue (FBR).
Karachi, November 4, 2023 – The Commissioner of Inland Revenue has been granted powers equivalent to a civil court to facilitate the recovery of taxes, including the seizure of properties and, when necessary, the arrest of taxpayers.
In the complex landscape of taxation, comprehending the nuances of income from property is crucial for individuals, businesses, and investors. To provide clarity on this topic, we delve into the intricacies of income taxation under the Income Tax Ordinance, 2001, shedding light on how rental income is taxed in Pakistan. Taxable Rental Income Rental income […]
Karachi, September 24, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by directing companies to implement a 10 percent withholding tax on the issuance of bonus shares. This move comes as part of the government’s efforts to enhance tax collection and revenue generation.
Karachi, September 17, 2023 – The Federal Board of Revenue (FBR) has taken punitive measures against individuals who have failed to declare their business bank accounts, as per recent reports.