KARACHI: The condition of providing CNIC details is not applicable on purchases up to Rs50,000 by a person, said Zeeshan Merchant, former vice president of Karachi Tax Bar Association (KTBA). Read more »
KARACHI: Federal Board of Revenue (FBR) to generate additional revenue of Rs733.47 billion during current fiscal year after abolishing zero-rating of sales tax and other policy and administrative measures. Read more »
KARACHI: The International Monetary Fund (IMF) has highlighted points of Pakistan’s budget 2019/2020 which envisaged a substantial revenue driven fiscal consolidation. Read more »
KARACHI: Federal Board of Revenue (FBR) has brought gold, jewelry and other precious articles into sales tax ambit by introducing reduced rates on supplies. Read more »
KARACHI: Federal Board of Revenue (FBR) has allowed reduced rate of customs duty on import of certain automotive vehicles in Completely Built Units (CBUs) under Automotive Development Policy 2016-2020. Read more »
KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of aviation related goods including aircraft and spare parts under National Aviation Policy 2015. Read more »
KARACHI: The government has imposed federal excise duty on all imported vehicles through Finance Act, 2019, which is inline with the levy of excise duty on locally manufactured vehicles. Read more »
KARACHI: The condition of obtaining CNIC number for unregistered persons at the time of supplies by registered person will be applicable from August 01, 2019. The condition has been proposed to be... Read more »
KARACHI: The government has exempted the capital gain tax on immovable property where holding period is above eight years. The amendment has been brought through Finance Act, 2019 as it was proposed... Read more »
ISLAMABAD: Federal Board of Revenue (FBR) will question the sources for all those foreign remittances exceeding Rs5 million in a year, which are transferred through normal banking channels. Read more »
ISLAMABAD: State Bank of Pakistan (SBP) will assist customs authorities in prevention of illegal inward or outward transfers of funds. Read more »
ISLAMABAD: Federal Board of Revenue (FBR) has clarified that it has not changed token payment and registration of cars in the budget 2019/2020. Read more »