Exclusive Archives - Page 18 of 22

SRB suspends sales tax registration of logistic company

February 14, 2019May 15, 2022Hamza Shahnawaz

KARACHI: Sindh Revenue Board (SRB) on Thursday suspended sales tax registration of a logistic company for depositing short payment. According to a notice the SRB suspended the sales tax registration of M/s. AY Logistics for depositing short paid amount of Rs1,074,212 pertaining to tax periods September 2017 to July 2018. The SRB said that non-payment […]

Return filers entitled to many reductions, rebate and credits

February 14, 2019December 13, 2023Faisal Shahnawaz

The Federal Board of Revenue (FBR) has released a comprehensive facilitation guide outlining the various tax reductions, rebates, and credits available to income tax return filers.

Requirement of wealth statement

February 14, 2019December 13, 2023Hamza Shahnawaz

The Federal Board of Revenue (FBR) has recently introduced amendments to the Income Tax Ordinance, 2001, shedding light on the requirement for taxpayers to submit a wealth statement alongside their annual income return.

Investment in unregistered prize bonds increases to Rs922.78 bn

February 14, 2019December 13, 2023Faisal Shahnawaz

KARACHI – According to the latest debt statistics issued by the State Bank of Pakistan (SBP), the investment in unregistered prize bonds has witnessed a significant surge, recording an increase of 17 percent to reach Rs922.78 billion by the end of December 2018.

FBR notifies removal, reduction of RD on raw materials

February 12, 2019December 10, 2023Hamza Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified elimination and reduction of regulatory duties on import of various raw materials used by manufacturing sector.

Income Tax Ordinance 2001: requirement of filing annual return

February 12, 2019December 10, 2023Mrs. Anjum Shahnawaz

KARACHI: Federal Board of Revenue (FBR) has explained requirement of filing income tax returns by persons and corporate entities.

ATL-2017 shows 1.824 million active taxpayers

February 11, 2019December 6, 2023Faisal Shahnawaz

Islamabad – The Federal Board of Revenue (FBR) has reported the receipt of an impressive 1.824 million income tax returns for the tax year 2017 by the week ending February 10, 2019.

Tax credit for investment in shares, insurance

February 11, 2019December 6, 2023Faisal Shahnawaz

KARACHI: The tax authorities have allowed tax credit for an individual against investment made in shares and insurance.

FBR assigns officers for directorate immovable properties

February 10, 2019December 6, 2023Mrs. Anjum Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has assigned officers of Inland Revenue Service (IRS) for the duties to make operational the directorate of immovable properties.

Income Tax Ordinance 2001: Computation of profits, gains from exploration, production of petroleum

February 10, 2019March 6, 2026Mrs. Anjum Shahnawaz

KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan.

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