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Pakistan Revenue

Category: Supplementary Budget 2019

FBR outlines sales tax amendments through second supplementary finance act
Mar 20
Supplementary Budget 2019, Taxation

FBR outlines sales tax amendments through second supplementary finance act

ISLAMABAD: Federal Board of Revenue (FBR) has summarized amendments to sales tax regime through Finance Supplementary (Second Amendment) Act, 2019 and directed the officials of Inland Revenue to take necessary action for implementation. The FBR said that to liquidate huge amount claimed by taxpayers in refunds which have been accumulated over a long time, the […]

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Advance tax rates enhanced by 50pc for non-filers on motor vehicle purchase
Mar 13
Supplementary Budget 2019, Taxation

Advance tax rates enhanced by 50pc for non-filers on motor vehicle purchase

KARACHI: The government has allowed non-filers to purchase locally manufactured motor vehicles but at the same time the advance tax rates for non-compliant taxpayers have been increased by 50 percent. Federal Board of Revenue (FBR) said that the rates have been revised upward on purchase and registration of new locally manufactured cars by non-filers and […]

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Finance Supplementary (2nd Amendment) Act 2019: Directorate set up for tax recovery from undeclared offshore assets
Mar 12
Budget, Supplementary Budget 2019, Taxation

Finance Supplementary (2nd Amendment) Act 2019: Directorate set up for tax recovery from undeclared offshore assets

ISLAMABAD: The federal government has set up Directorate General of International Tax Operations for recovery of tax in undeclared off-shore assets and incomes. According to Finance Supplementary (Second Amendment) Act, 2019, the directorate has been established under new section 230E of Income Tax Ordinance, 2001. The new section is as follow: Section 230E: Directorate General […]

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Motor vehicle purchase restriction on non-filers withdrawn
Mar 12
Budget, Supplementary Budget 2019, Taxation

Motor vehicle purchase restriction on non-filers withdrawn

ISLAMABAD: The federal government has allowed non-filers of income tax returns to purchase locally manufactured motor vehicles. According to Finance Supplementary (Second Amendment) Act, 2019, the government lifted the mandatory condition of return filing for purchase of motor car. Further through the Act, non-resident Pakistani citizens holding international passport have also been allowed to registered […]

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