Applicable withholding sales tax rates on various supplies

KARACHI: Federal Board of Revenue (FBR) has notified withholding sales tax rates to be deducted / collected on various supplies by withholding agents. Read more »

Policy recommends import of used electric vehicles

KARACHI: The import of used electric vehicles has been proposed under ‘National Electric Policy’ for at least two years for giving time to local auto manufacturers to prepare development plans. Read more »

Jewelers, real estate agents to maintain register, report suspicious transactions: draft rules issued

ISLAMABAD: Federal Board of Revenue (FBR) has proposed to make mandatory for jewelers and real estate agents to report suspicious transactions. Read more »

Import of used vehicles: changes to payment of duty, taxes approved

ISLAMABAD: The government has approved changes to payment of duty and taxes system for clearance of used vehicles, which are allowed to import under three different schemes. Read more »

SECP introduces concept of trading only brokers for expanding investor base

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has introduced a concept of trading only brokers for expanding investor base at the capital market. Read more »

Stock market gains 295 points in mixed trading activities

KARACHI: The stock market gained 295 points on Wednesday in mixed trading activities. Read more »

Proposals for establishment of Pakistan Revenue Authority to be finalized by June 2020

ISLAMABAD: The ministry of finance has been directed to finalize proposals for establishment of Pakistan Revenue Authority (PRA) by June 30, 2020. Read more »

FBR to get real-time data of financial transactions

ISLAMABAD: Federal Board of Revenue (FBR) will get real-time data of financial transactions of the banking system by end of this year. Read more »

FBR to initiate criminal proceedings in tax evasion above Rs10 million

ISLAMABAD: Federal Board of Revenue (FBR) will initiate criminal proceedings in those cases where tax evasion above Rs10 million is detected. Read more »

Implementing full-fledged VAT regime in next two to four years decided

ISLAMABAD: The government has decided to implement full-fledged Value Added Tax (VAT) by eliminating General Sales Tax (GST) in next two to four years. Read more »

FBR to conduct nation-wide survey of immovable properties to assess wealth parked in real estate sector

ISLAMABAD: Federal Board of Revenue (FBR) will conduct nation-wide survey of immovable properties to assess and tap colossal wealth parked in the real estate sector. Read more »

FBR may extend date beyond Oct 31 for return filing tax year 2019

KARACHI: Federal Board of Revenue (FBR) is likely to extend the last date for filing income tax returns for salaried and business individuals beyond October 31, 2019. Read more »