Share of payment to Chinese imports increases 21.42pc

KARACHI: The share of import payment to China has increased to 21.42 percent during first four months (July – October) 2019/2020 as compared with share of 18 percent in the corresponding period... Read more »

Tax collection witnesses negative growth after 51 years

ISLAMABAD: The revenue collection in 2018/2019 has witnessed negative growth after 51 years, according to year book released by Federal Board of Revenue (FBR). The historical revenue collection shows the tax collecting... Read more »

Income tax collection from doctors surges by 135pc; services sector contribution falls by 8.2pc

ISLAMABAD: The income tax collection from doctors has witnessed unprecedented growth of 135 percent in fiscal year 2018/2019, according to official statistics of Federal Board of Revenue (FBR). Read more »

Income tax return filing rises to record high of 2.66 million

ISLAMABAD: The income tax return filing has increased to record high of 2.66 million for tax year 2018, according to returns filed up to October 27, 2019 for the said tax year. Read more »

Withholding tax collection on profit from bank deposits surges by 194pc

KARACHI: The collection of withholding tax from profit on bank deposits registered unprecedented growth of 194 percent during first quarter of first fiscal year as the tax rates increased by 100 percent... Read more »

Post refund divisions to be set up at RTOs/LTUs to audit claims

ISLAMABAD: Federal Board of Revenue (FBR) has decided to audit sales tax refunds by establishing ‘refund division’ at all Regional Tax Offices (RTOs) and Large Taxpayers Units (LTUs). Read more »

FBR issues broadening of tax base jurisdictions for Karachi

KARACHI: Federal Board of Revenue (FBR) has divided territorial jurisdictions of tax offices in order to identify potential taxpayers in Karachi city – the commercial hub of the country, FBR officials said... Read more »

SRB suspends sales tax registration of Chinese sanitation firm

KARACHI: Sindh Revenue Board (SRB) on Tuesday suspended sales tax registration of a Chinese sanitation firm for defaulting sales tax payment and failure to file monthly sales tax returns. Read more »

FBR sacks senior auditor on corruption charges

ISLAMABAD: Federal Board of Revenue (FBR) has sacked a senior tax auditor on the charges of corruption and misconduct. Read more »

FBR asks banks to provide details of government securities investment

ISLAMABAD: Federal Board of Revenue (FBR) has asked banks to provide details of additional investment made into the government securities during the tax year 2019. Read more »

Banking system witnesses massive withdrawal of Rs711 billion in July

KARACHI: The banking system has witnessed massive withdrawal of an amount around Rs711 billion during July 2019 after reaching record high deposits by end of June 2019. Read more »

General education not taxable under training services: SRB

KARACHI: Sindh Revenue Board (SRB) on Monday said that general education services are not taxable under ‘training services’ which is introduced through Sindh Finance Act, 2019. The provincial revenue authority issued clarification... Read more »