FBR asks jewelers to avail amnesty for undeclared assets

KARACHI: Federal Board of Revenue (FBR) has asked jewelers to declare their concealed assets by June 30 otherwise possessing black money or undocumented money will face harsh action. Read more »

Import Policy Order 2016 amended: SRO 604 issued for solar panels, equipments

ISLAMABAD: The ministry of commerce on Monday amended Import Policy Order, 2016 to describe conditions for import of solar energy panels and related equipments into Pakistan, according to a notification made available... Read more »

FBR estimates additional revenue of Rs2 billion through changes in super tax

ISLAMABAD: Federal Board of Revenue (FBR) has estimated additional revenue of Rs2 billion through proposed changes in law related to super tax. Read more »

Finance Bill 2019: FTR abolished on stock brokers’ commission

ISLAMABAD: The government has withdrawn Final Tax Regime (FTR) for stock brokers for the purpose of taxation on commission earned by them. The proposal has been presented through Finance Bill, 2019 before... Read more »

Profit on banking deposits: High tax rate planned for non-filers in budget 2019/2020

ISLAMABAD: A sharp increase in withholding tax rate (may be up to 30 percent) on profit on banking deposits has been planned for non-filers in order to make it almost impossible to... Read more »

Massive cut in tax exemptions, concessions likely in budget 2019/2020

ISLAMABAD: The government has planned to a massive cut tax in exemptions and concessions in the budget 2019/2020, which is scheduled to be announced on June 11, 2019. Read more »

Super tax application may be amended to generate around Rs2 billion

KARACHI: Federal Board of Revenue (FBR) may recommend amending application of super tax in the forthcoming budget 2019/2020 to generate around Rs2 billion. Read more »

SRB suspends sales tax registration of Multinet Pakistan

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Multinet Pakistan (Pvt.) Limited for defaulting tax payment and non-compliance in filing monthly sales tax return. Read more »

Black money invested in immovable properties allowed whitening at just 1.5 percent of tax

KARACHI: The government has allowed whitening of money investment in immovable properties at nominal income tax rate of 1.5 percent on declaration made by June 30, 2019. Read more »

SRB suspends sales tax registration of four freight forwarders

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of four freight forwarders for defaulting payment and non-compliance of filing sales tax returns. Read more »

Sales Tax Act 1990: treatment of tax paid by person required to get registration

KARACHI: A person, who is required to be get registration, paid sales tax on goods purchased from a registered person shall be treated as input tax. Read more »

Sindh exempts sales tax on insurance services

KARACHI: The Sindh government has exempted the insurance services from payment of sales tax up to June 30, 2019. Read more »