71pc return filing companies declare income below Rs500,000

ISLAMABAD: Federal Board of Revenue (FBR) has said that around 71 percent return filing corporate entities have declared income less than Rs500,000. According to director for tax year 2018 issued by the... Read more »

Highest number of returns filed by persons below threshold income

ISLAMABAD: The Federal Board of Revenue (FBR) has issued analysis of income tax returns by categories of taxpayers for tax year 2018. It shows the highest number of returns was filed by... Read more »

Salaried persons share 42 percent in total return filing

ISLAMABAD: Salaried persons have shared 42.12 percent of total income tax return filing with the Federal Board of Revenue (FBR), and they are second largest contributors in return filing after non-salaried individuals.... Read more »

Pakistan Customs makes seizures of Rs10.36bn in 2 ½ months

KARACHI: Pakistan Customs has accelerated operation against smuggling and non-duty paid items and made seizure of goods and vehicles valuing Rs10.36 billion during two and a half months of the current fiscal... Read more »

TAX DIRECTORY: FBR issues details of tax payment by members of upper, lower houses

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued the tax directory for tax year 2018 disclosing the payment of tax made by members of upper and lower houses. Dr. Abdul Hafeez... Read more »

FBR selects 10,441 income tax audit cases through computer balloting

ISLAMABAD: Federal Board of Revenue (FBR) on Friday selected 10,441 cases of income tax for audit of tax year 2018. The FBR conducted computerized balloting for selection of cases under Audit Policy... Read more »

FBR issues rules for duty free import of minimum value goods

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued rules for duty free minimum value of goods imported through courier and postal service. The FBR issued SRO 886(I)/2020 to notify draft amendment... Read more »

FBR issues single page return form for shopkeepers, traders

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued final draft of single-page income tax return for shopkeepers /small traders having annual turnover less than Rs10 million. The FBR issued SRO 885(I)/2020... Read more »

FBR forms committees to eliminate inequalities in taxation system

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday formed committees for elimination of inequality in taxation system and speedy resolution of taxpayers’ complaints. The FBR said that advisor to Prime Minister on... Read more »

Zeeshan Merchant elected unopposed KTBA president

KARACHI: The office bearers and members of executive committee have been elected unopposed for the term 2020 in the election of Karachi Tax Bar Association (KTBA). This was announced at 63rd Annual... Read more »