January 28, 2022

Pkrevenue.com

Pakistan Revenue

Category: Taxation

Services tax on forex companies under provincial ambit
Jan 27
Taxation, Top stories

Services tax on forex companies under provincial ambit

ISLAMABAD: The Federal Board of Revenue (FBR) has said that the tax collection provided by foreign exchange companies on services is under the jurisdiction of provinces. “Services provided by foreign exchange dealers in provinces are not chargeable to Federal Excise under Federal Excise Act, 2005,” the FBR said in a clarification issued on a news […]

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DG Customs Valuation powers strengthened
Jan 26
Pakistan Customs, Taxation, Top stories

DG Customs Valuation powers strengthened

ISLAMABAD: The powers of Director General Customs Valuation have been strengthened through amendments made through Finance (Supplementary) Act, 2022. The powers of Customs Collector to determine customs valuation have been withdrawn through Finance (Supplementary) Act, 2022. Sources in Federal Board of Revenue (FBR) on Tuesday said that through the Finance (Supplementary) Act, 2022 amendment had […]

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KTBA identifies anomaly in SRB’s appellate system
Jan 25
Taxation

KTBA identifies anomaly in SRB’s appellate system

Karachi Tax Bar Association (KTBA) has identified a sheer violation of the constitution by the Sindh Revenue Board (SRB) regarding appointments in appellate system. KTBA President Muhammad Zeeshan Merchant in a letter to SRB Chairman Wasif Ali Memon pointed out the irregularities in appointments of provincial tax officials in first appellate forum available to taxpayers […]

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FBR collects mobile phone tax, PTA clarifies
Jan 24
IT & Telecom, Taxation

FBR collects mobile phone tax, PTA clarifies

ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Monday clarified that the applicable duty and taxes on mobile devices and handsets were only collected by the Federal Board of Revenue (FBR). READ MORE: FBR increases income tax to 15% on cellular services In the wake of recent increase in taxes/duties for the registration of cellular mobile devices […]

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FBR further extends date for filing sales tax return
Jan 24
Taxation

FBR further extends date for filing sales tax return

ISLAMABAD: Federal Board of Revenue (FBR) on Monday further extended the last date for filing sales tax and federal excise return for the month of December 2021 up to January 28, 2022. The FBR issued an office order to further extend the date of payment and filing of sales tax and federal excise return for […]

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FBR slaps sales tax at 17% on supply of food stuff
Jan 21
National, Taxation

FBR slaps sales tax at 17% on supply of food stuff

ISLAMABAD: The Federal Board of Revenue (FBR) has slapped sales tax at 17 per cent on supply of food stuff by restaurants, bakeries, caterers and sweetmeats shops. The FBR issued Circular No. 07 of 2022 on Thursday to explain amendment introduced in the Sales Tax Act, 1990, through Finance (Supplementary) Act, 2022. The revenue body […]

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