April 30 last day for filing annual return; eyes on amnesty scheme for further extension

ISLAMABAD: Tomorrow April 30, 2019 is the last day for filing income tax return for Tax Year 2018, which was extended many times since the actual filing date. Read more »

Withholding tax card for dividend income, return on Sukuk: updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for Tax Year 2019 incorporating amendment made to Income Tax Ordinance, 2001 through Finance Supplementary (Second Amendment) Act, 2001. Read more »

Sales Tax Act 1990: IR officers empowered with free access to enter business premises

KARACHI: Authorized officers of Inland Revenue have access to business premises of sales tax registered taxpayers to inspect record of sales and purchases. Read more »

Pakistan, China agree on duty free access to 313 tariff lines

ISLAMABAD: Pakistan and China have signed second phase of Free Trade Agreement (FTA) under which both the countries have agreed allowing duty free access to 313 tariff lines. Read more »

Second phase of Pak-China FTA signed; two premiers witness signing ceremony

ISLAMABAD: The second phase of Pakistan China Free Trade Agreement (FTA) signed on Sunday, which was witnessed by the premiers of both the countries. Read more »

PSX recommends aligning CGT on securities with immovable properties

KARACHI: Pakistan Stock Exchange (PSX) has recommended the government to align capital gain tax (CGT) on disposal of securities with the rates of CGT with immovable properties using same slabs of holding... Read more »

FTO recommends 20 percent increase in withholding tax rates

KARACHI: Federal Tax Ombudsman (FTO) has recommended 20 percent increase in adjustable withholding taxes in order to encourage income tax return filing. Read more »

Sales Tax Act 1990: IR officers authorized to arrest fraudsters

KARACHI: The sales tax law has authorized officers of Inland Revenue to arrest persons committing fraud or any other offence. Read more »

Bank holiday announced on May 01

KARACHI: State Bank of Pakistan (SBP) announced bank holiday on May 01, 2019 on account of Labour Day as declared by the federal government. Read more »

Inflation increases by 17.15pc for higher income group

KARACHI: The prices of essential items has increased by 17.15 percent for higher income group above Rs35,000, according to weekly Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS). Read more »