Banks in Pakistan are now required to collect a 5 percent withholding tax on payments for off-shore digital services, according to the Withholding Tax Card for Tax Year 2019 released by the Federal Board of Revenue (FBR).
(more…)Author: Mrs. Anjum Shahnawaz
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KSE-100 gains 237 points on expected tax measures
The KSE-100 Index of Pakistan Stock Exchange (PSX) has gained 237 points on Monday in the anticipation of expected tax measures. The benchmark index ended 39,544 points, up from 39,307 points.
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Rupee ends with small gain after making recovery
The Pakistani Rupee displayed resilience on Monday by concluding the day’s trading with a marginal one paisa gain against the US Dollar, following a brief period of depreciation in the early trading hours.
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Media to pay 20pc final tax on foreign produced advertisements
The Federal Board of Revenue (FBR) in Pakistan has introduced a significant tax measure by imposing a 20% final tax on media at the time of payments for the production of commercial advertisements to foreign entities.
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Rupee weakens four paisas against dollar in midday trading
The Pakistani Rupee (PKR) experienced a dip in its value against the US Dollar (USD) in midday trading on Monday, prompting concerns among market participants and economists.
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Pkrevenue warns IPR violators
PkRevenue, a prominent platform for news and information, has issued a stern warning to individuals or entities engaged in copying and publishing content that originally appears on their website, emphasizing the importance of respecting international and local Intellectual Property Rights (IPR).
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Customs Intelligence Peshawar announces public auction of confiscated vehicles on Jan 24
Customs Intelligence Peshawar has announced public auction of confiscated vehicles which will be held on January 24, 2019. The Directorate of Intelligence and Investigation (Customs), part of the Federal Board of Revenue (FBR) in Peshawar, has made a significant announcement regarding the public auction of confiscated vehicles.
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Withholding tax rate on winning prize bonds
The Federal Board of Revenue (FBR) has revealed the withholding tax rate on prize bonds and winning for Tax Year 2019, as outlined in Section 156 of the Income Tax Ordinance, 2001.
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Withholding tax rates on income from property for Tax Year 2019
The Federal Board of Revenue (FBR) has recently released the rates of withholding tax to be collected on income from property for Tax Year 2019.
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Curbs on non-filers trap tax authorities
ISLAMABAD: The tax authorities are facing challenging revenue collection after imposing curbs on non-filers in the budget 2018-2019.
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