FBR launches simplified wizard for income tax return filing

KARACHI: Federal Board of Revenue (FBR) has introduced a simplified wizard based income tax return filing mechanism to its Tax Asaan mobile application. Read more »

Income tax return filing must for person owns above 1000CC motor vehicle

KARACHI: A person owns a motor vehicles having engine capacity above 1000CC is mandatorily required to file income tax return for tax year 2019. Officials of Federal Board of Revenue (FBR) said... Read more »

Persons committing fiscal fraud liable to 10 years jail under Customs laws

KARACHI: A person is liable to jail punishment up to 10 years in case of committing fiscal fraud under Customs Act, 1969. Read more »

Filing wealth statement mandatory along with annual return for Tax Year 2019

KARACHI: The filing of wealth statement is mandatory for persons filing annual returns for tax year 2019. Read more »

FBR notifies adjudication benches for Benami cases

ISLAMABAD: Federal Board of Revenue (FBR) has notified benches for adjudication of Benami cases at three major cities in the country. Read more »

Customs officers authorized business access for audit

KARACHI: Customs officers have been authorized under customs laws to enter business premises to access records necessary for the purpose of audit. Read more »

KTBA highlights glitches, lacunas in income tax return forms

KARACHI: Karachi Tax Bar Association (KTBA) on Friday pointed out glitches and lacunas in income tax return forms which resulted in difficulties in filing tax returns for tax year 2019 Read more »

Sales tax registration made mandatory for buyers of ginned cotton

ISLAMABAD: Federal Board of Revenue (FBR) has made sales tax registration mandatory for persons buying ginned cotton. Read more »

Any person can takeover imported goods by offering higher customs value

KARACHI: In order to prevent under-invoicing and mis-declaration the customs authorities have powers to accept offer from any person to allow clearance at higher value than the declared by an importer for... Read more »

Persons not required filing income tax return, wealth statement

KARACHI: There are classes of persons who are not required to file annual income tax returns and wealth statement for tax year 2019. Read more »

FBR issues 60,000 notices to Faisalabad industrial, commercial electricity consumers

ISLAMABAD: Federal Board of Revenue (FBR) has issued 60,000 notices to commercial and industrial electricity consumers for mandatory registration and filing of income tax returns. Read more »

SECP makes tax return filing compliance certificate mandatory for companies

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has made mandatory for companies to submit certificate of income tax returns. Read more »