FBR issues simplified return form for taxpayers having turnover less than Rs50 million

ISLAMABAD: Federal Board of Revenue (FBR) has launched a single page simplified draft income tax return form for business individuals and Association of Persons (AOPs) having annual turnover less than Rs50 million.... Read more »

Sales tax exempted on services provided by beauty parlors

KARACHI: Sales tax has been exempted on services provided by beauty parlors or beauty clinics within the province of Sindh if their annual turnover is below Rs2.5 million. According to Working Tariff... Read more »

Appeals against tax orders to be filed electronically from January 01

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued draft rules for filing appeals electronically from January 01, 2021. The FBR issued SRO 1262(I)/2020 to propose amendments in Income Tax Rules, 2002.... Read more »

Stock market gains 654 points

KARACHI: The stock market gained 654 points on Thursday as trading activities were seen in energy sector. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,031 points as against... Read more »

Volunteer helps FBR in broadening of tax base

KARACHI: Federal Board of Revenue (FBR) is making all out efforts to aware people in discharging their national duty by paying taxes and making true declaration of income and assets. Many volunteers... Read more »

Procedure to get exemption certificate for imported goods

ISLAMABAD: Procedure for obtaining certificate to get exemption from advance income tax on imported goods has been laid down in Income Tax Rules, 2002. The FBR issued Income Tax Rules, 2002 (updated... Read more »

Return filing may reach 6.5 million if NTN holders make compliance

ISLAMABAD: The number of return filers may reach near 6.5 million if persons obtained National Tax Number (NTN) make compliance. According to the Federal Board of Revenue (FBR) more than 3.5 million... Read more »

FBR exempts sales tax on medical goods for COVID prevention, treatment

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday exempted whole of sales tax on import of medical instruments and equipments for prevention and treatment of COVID pandemic. The FBR issued SRO 1257(I)/2020... Read more »

Customs valuation enhanced for garments on EDE data variations

KARACHI: Pakistan Customs has enhanced the imported low-end brand garments from China and other destinations after identifying data variations in Electronic Data Exchange (EDE). The directorate general of customs valuation has issued... Read more »

FBR cuts staff strength to half on coronavirus resurgence

ISLAMABAD: Federal Board of Revenue (FBR) on Monday directed all the tax offices to cut the staff (BS-1 to BS-15) by 50 percent with immediate effect in the wake of resurgence of... Read more »