FBR updates withholding tax rates for electricity consumers

ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rate on the amount paid for electricity bills by commercial, industrial and domestic consumers. The FBR issued withholding tax card 2020-2021 (updated up to June 30, 2020) incorporating amendment made to Income Tax Ordinance, 2001 through Finance Act, 2020. Under Section 235 of Income Tax […]

by Mrs. Anjum Shahnawaz

Weekly Review: Market likely stay on improved economic indicators

KARACHI: The stock market likely to stay positive during next week owing to improved economic indicators, analysts said. The analysts at Arif Habib Limited said that the market to remain green especially cyclical sectors including Cement, Steel, Textile and Automobile amid notable improvement in macros including quick recovery in exports, reduction in trade deficit, stable […]

by Mrs. Anjum Shahnawaz

FBR explains amendments to federal excise law

ISLAMABAD: Federal Board of Revenue (FBR) has issued explanation to amendment made to Federal Excise Act, 2005 through Finance Act, 2020. The FBR through Circular No. 01 of 2020 dated August 06, 2020 explained the following amendments: 01. ENLARGING THE SCOPE OF SEIZURE AND CONFISCATION OF THE NONDUTY PAID ITEMS SUBJECT TO FED In view […]

by Mrs. Anjum Shahnawaz