Pakistan Revenue
This is parent category of budget presented by Pakistan government. Here you will find year-wise federal and provincial budgets.
KARACHI: Taxpayers shall require to pay 10 percent of tax demand while filing an appeal before Appellate Tribunal challenging the order of commissioner appeals. Deloitte Yousuf Adil, Chartered Accountants, said that a new requirement is proposed in the Finance Bill 2020 for filing of appeal before the Appellate Tribunal for challenging the order of Commissioner […]
Continue Reading
ISLAMABAD: The limit of tax credit has been reduced by 50 percent on amount paid in cash or in kind to charitable donations, sources in Federal Board of Revenue (FBR) said. The sources said that under the existing provisions of the last a person is entitled to tax credit on account of charitable donation paid […]
Continue Reading
ISLAMABAD: The federal government has increased federal excise duty from 13 percent to 25 percent on consumption o f caffeinated energy drinks on both local supplies and import of such drinks. Hammad Azhar, Federal Minister for Industry and Production, while presenting the federal budget 2020/2021 on June 12 on floor of the house said that […]
Continue Reading
ISLAMABAD: The capital gain tax on (CGT) disposal of immovable properties has been reduced by 50 percent in order to promote investment in construction industry. According to Deloitte Yousuf Adil, Chartered Accountants, the Finance Bill 2020 proposed reduction in tax rates by 50 percent on capital gains arising on disposal of immovable property. This is […]
Continue Reading
The Federal Board of Revenue (FBR) has introduced a significant policy shift through the Finance Bill 2020, proposing the automated scrutiny of all income tax returns, which may signal the end of the Universal Self-Assessment Scheme (USAS) in Pakistan.
Continue Reading
PESHAWAR: The Khyber Pakhtunkhwa government announced tax relief package in order to mitigate the adverse impact of coronavirus. Key points of the tax incentives to be granted during the next fiscal year. i. Sales tax on services (STS) will be reduced for over 27 categories. This will be an allencompassing reduction for sectors where the […]
Continue Reading
PESHAWAR: The Khyber Pakhtunkhwa Government on Friday presented budget 2020/2021 with total outlay of Rs 923billion. The budget is a tax free and with an amount of Rs104 billion allocated for Annual Development Plan (ADP) for the next fiscal year.
Continue Reading
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has submitted its recommendations to rectify anomalies in the Finance Bill 2020, highlighting concerns over several taxation measures impacting trade and industry.
Continue Reading
Presently, expenses incurred to the extent of 6 percent of rent chargeable wholly and exclusively for deriving rent are admissible as deduction against rental income. The Bill proposed to reduce the limit from 6 percent to 2 percent. The experts said that further reducing such limit would deprive a taxpayer for claiming a legitimate expense […]
Continue Reading
LAHORE: Punjab Revenue Authority (PRA) has been empowered to arrest defaulters and imprison for six months for making recovery of outstanding tax. The Punjab Finance Bill, 2020 has proposed to empower PRA in certain provisions of Punjab Sales Tax Act, 2012 for making recovery of outstanding tax. According to interpretation of Punjab Finance Bill, 2020 […]
Continue Reading