Pakistan Revenue
KARACHI – The Federal Board of Revenue (FBR) has announced that sales tax registered individuals with the provinces are now required to pay adjustable advance income tax, as per the recently updated Income Tax Ordinance, 2001.
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KARACHI: Taxpayers are liable to pay advance tax against their estimated annual income on quarterly basis under Income Tax Ordinance, 2001.
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ISLAMABAD: Federal Board of Revenue (FBR) is set to make Benami Law operational with strict action to confiscate property if it was held by a person and payment made by another person.
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KARACHI: State Bank of Pakistan (SBP) on Thursday said that it has been made mandatory for all banks to send free of cost transaction alerts to their customers in order to ensure security of digital payments.
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ISLAMABAD: The government has launched a reform plan for improving financial health of three major Public Sector Enterprises (PSEs) including Pakistan Steel Mills, Pakistan Railways and Pakistan International Airlines, according to Fiscal Policy Statement 2018/2019 issued by the ministry of finance.
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KARACHI: Federal Board of Revenue (FBR) has withdrawn requirement of details of credit card holder in case sales made through Point of Sale (POS) of textile and leather sectors under concessionary regime.
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ISLAMABAD: The issuance of refunds by Federal Board of Revenue (FBR) decline by 24 percent yet the net collection for the first seven months witnessed huge shortfall.
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ISLAMABAD: Exchange rate losses have increased the public debt by around Rs1,200 billion, according to Fiscal Policy Statement 2018-2019 released by the Ministry of Finance.
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KARACHI: A liquidator is required to inform Commissioner of Inland Revenue in 14 days of taking possession of an asset. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 which explained liquidators under Section 141 for recovery of tax from taxpayers in default.
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ISLAMABAD: Federal Board of Revenue (FBR) will launch a door-to-door survey for identifying potential tax evaders to broaden the tax base, a report issued by ministry of finance said.
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