Bill proposes valuation in US Dollar for imported mobile phones to collect smart phone levy

KARACHI: The Finance Supplementary (Second Amendment), 2019 has proposed to determine the valuation of imported mobile phones in US Dollar for collection of levy on smart phones. Read more »

Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials

ISLAMABAD: The government has identified 135 customs tariff lines for eliminating or reducing customs duty, additional customs duty and regulatory duty for enhancing export and industrial output.     In his speech... Read more »

Changes to sales tax exemptions proposed

KARACHI: The government has proposed changes through Finance Supplementary (Second Amendment) Bill, 2019 to exemptions allowed under sales tax laws to various sectors. Read more »

FBR invites customs related budget proposals for 2019/2020

ISLAMABAD: Federal Board of Revenue (FBR) on Friday invited customs related proposals for federal budget 2019/2020. Read more »

Rs6.8 billion revenue loss estimated on implementation of reform package: FBR

ISLAMABAD: The proposed Finance Supplementary (Second Amendment) Bill, 2019 or reform package will negatively impact the revenue collection to the tune of Rs6.8 billion, Federal Board of Revenue (FBR) said in a... Read more »

FED rates revised for locally manufactured, imported vehicles

KARACHI: The government has enhanced Federal Excise Duty (FED) rates up to 30 percent on imported vehicles through Finance Supplementary (Second Amendment) Bill, 2019. Read more »

Sales tax rates revised for imported mobile phones

KARACHI: The government has revised the sales tax on mobile phones at the time of import or local supply and sales tax chargeable at the time of registration of IMEI number by... Read more »

Sales tax refunds: 3-year promissory notes to bear 10 percent annual profit

KARACHI: The government will issue promissory notes for payment of sales tax refunds and an annual profit of 10 percent will be given on these financial instruments, sources in Federal Board of... Read more »

Finance Supplementary Bill: Major changes introduced to income tax

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into income tax regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Finance Supplementary Bill: FBR issues salient features of sales tax and federal excise duty

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into sales tax and Federal Excise Duty (FED) regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on... Read more »

Finance Supplementary Bill: FBR issues salient features of customs duty regime

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued salient features of changes brought into Customs duty regime through Finance Supplementary (Second Amendment) Bill, 2019, presented on January 23, 2019. Read more »

Reduced income tax rate of Rs5,000 for marriage halls

KARACHI: The government has introduced a reduced rate of income tax of up to Rs5,000 for marriage functions organized in an area less than 500 square yards. Read more »