Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) has proposed to phenomenal increase in valuation for commercial and residential immovable properties in Karachi for the purpose of collection of income tax.
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ISLAMABAD: Persons having offshore undeclared assets in Panama and Paradise leaks can avail the latest Asset Declaration Scheme 2019, according to a presentation made by Federal Board of Revenue (FBR). According to the presentation made available to PkRevenue.com, Panama and Paradise leaks/offshore property holders can also avail the latest asset declaration scheme 2019, which is […]
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KARACHI: The government will document an amount of Rs260 billion in first phase by withdrawing Rs40,000 denomination bonds. The government has announced to stop circulation of high denomination bearer bonds in order to curb the black economy. Till February 2019 the central directorate of national savings issued Rs259.22 billion bonds of Rs40,000. On Jane 24, […]
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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.The members of gems and jewelers association met senior tax officials at Regional Tax Office (RTO) – II Karachi on Tuesday related to ongoing tax amnesty scheme, sources […]
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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 to PkRevenue.com. The ministry issued SRO 604(I)/2019 to amend the import policy order. The SRO amended the Appendix-B related to procedural requirement of […]
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ISLAMABAD: Federal Board of Revenue (FBR) has estimated additional revenue of Rs2 billion through proposed changes in law related to super tax. The changes have been introduced to Section 4B of Income Tax Ordinance, 2001 through Finance Bill 2019. The FBR in explanation to the Finance Bill said that presently brought forward depreciation and business […]
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ISLAMABAD: The government has withdrawn Final Tax Regime (FTR) for stock brokers for the purpose of taxation on commission earned by them.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 the Parliament. In the budget 2019/2020 the government has taken several measures to plug loopholes of those avenues which were promoting black economy. […]
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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 stay remain unregistered, sources said. Sources told PkRevenue.com that Federal Board of Revenue (FBR) a large sum of banking system deposits were remained […]
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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. Sources told PkRevenue.com that the government had committed with the World Bank and other international agencies to withdraw large size exemptions given to various sectors and individuals […]
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KARACHI: Federal Board of Revenue (FBR) may recommend amending application of super tax in the forthcoming budget 2019/2020 to generate around Rs2 billion. FBR sources said that the tax authorities had recommended amendments to Section 4B of Income Tax Ordinance, 2001 through Finance Bill, 2019. The sources said that it had been recommended to apply […]
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