Tax to apply on sale of used cars only on value addition: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Saturday said that sales tax is applicable at 17 percent on sale of used cars only on value addition. Clarifying news reports regarding levying of... Read more »

FBR collects Rs100 billion as duty, taxes from imported cars

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs100 billion as customs duty and sales tax on import of cars during fiscal year 2019/2020, according to official documents. The total revenue from... Read more »

FBR issues draft rules for settlement of tax cases

ISLAMABAD: Federal Board of Revenue (FBR) has issued draft rules for settlement of tax cases through oversight committee. The FBR issued SRO 945(I)/2020 to notify draft rules for implementation of law of... Read more »

No refund claim to stop at pre-processing stage: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Saturday said that it has launched an updated version of automated refund payment system and taxpayers will not face hurdles in processing their claims. “No... Read more »

Weekly Review: Turmoil in international markets likely to suppress domestic bourse

KARACHI: The share market likely to remain under pressure due to turmoil in international markets, analysts said. Analysts at Arif Habib Limited said that with economic indicators continuing to show improvement, they... Read more »