Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.
(more…)Month: January 2019
-
Pakistan imposes new conditions for clearance of new and used imported vehicles
In a bid to enhance transparency and ensure fiscal compliance, Pakistan has implemented new conditions for the clearance of both new and used imported vehicles under concessionary schemes.
(more…) -
MCC Preventive auctions confiscated vehicles on January 18
The Model Customs Collectorate (MCC) Preventive has scheduled a public auction of confiscated vehicles to be held on January 18, 2019, at the headquarters of the Anti-Smuggling Organization (ASO) in Ghasbandar, Karachi.
(more…) -
PM task force proposes zero percent income tax on internet
Islamabad – In a move aimed at promoting the information technology (IT) industry in Pakistan, the Prime Minister’s Task Force has proposed the elimination of income tax on internet services.
(more…) -
Advance tax on domestic, international air tickets adjustable
The Federal Board of Revenue (FBR) has recently introduced revised advance tax rates on both domestic and international air tickets to be collected from purchasers.
(more…) -
Pakistan, China agree to expedite work under CPEC
Pakistan and China have mutually resolved to intensify their collaborative efforts under the China-Pakistan Economic Corridor (CPEC).
(more…) -
KSE-100 gains 202 points on activities in oil companies
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) concluded on a positive note, ending the trading day with a substantial gain of 202 points.
(more…) -
Rupee Strengthens in Interbank
In a positive development for Pakistan’s financial landscape, the Pakistani Rupee (PKR) showed resilience and ended with a gain of four paisas against the US Dollar in the interbank foreign exchange market on Tuesday.
(more…) -
ECC approves clearance of imported vehicles on verified foreign currency payment
ISLAMABAD – In a recent session, the Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Asad Umar, gave its approval for a significant policy shift regarding the clearance of imported vehicles under various schemes.
(more…) -
FBR to issue assessment notices of last ten years to potential taxpayers
KARACHI – The Federal Board of Revenue (FBR) has taken a significant step toward improving tax compliance by announcing its intention to issue assessment notices covering the past ten years to potential taxpayers and individuals who have failed to file a tax return for any of the last five years.
(more…)