Karachi, January 3, 2024 – As the New Year unfolds, the Federal Board of Revenue (FBR) in Pakistan has provided clarity on the tax rates applicable to prize bond winnings for the year 2024.
Karachi, September 8, 2023 – Pakistan has taken steps to facilitate its citizens in converting unregistered prize bonds worth approximately Rs 5 billion, with a deadline set for the end of June next year.
Karachi, September 6, 2023 – Pakistan has announced an extension of the last date for the redemption of unregistered prize bonds, according to a statement issued on Wednesday by the State Bank of Pakistan (SBP).
KARACHI: State Bank of Pakistan (SBP) has said that people can encashed Rs40,000 bearer prize bonds on or before March 31, 2020 and after that the financial instruments cannot be redeemed. The central bank issued frequently asked questions (FAQs) related to the withdrawal of Rs. 40,000/- National Prize Bonds (Bearer) from Circulation to facilitate general […]
KARACHI: The withholding tax collected on winning of prize bond shall be final tax liability either it is collected from person appeared on Active Taxpayers List (ATL) or not. Sources in Federal Board of Revenue (FBR) said that the withholding tax collected on winning of prize bonds may not be adjusted against the total tax […]
The Federal Board of Revenue (FBR) has revealed the withholding tax rate on prize bonds and winning for Tax Year 2019, as outlined in Section 156 of the Income Tax Ordinance, 2001.