Minimum tax for commercial importers enhanced: FBR

Jul 24

Budget 2022-2023, Taxation

Minimum tax for commercial importers enhanced: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) said that withholding tax for commercial importers has been enhanced to 3.5 per cent from 2 per cent. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: Tax through electricity […]

by Mrs. Anjum Shahnawaz

Peshawar Customs announces auction of motor vehicles on July 26, 2022

Jul 23

Auction, Automotive, Pakistan Customs

Peshawar Customs announces auction of motor vehicles on July 26, 2022

ISLAMABAD: The Collectorate of Customs (Enforcement), Peshawar has announced public auction of motor vehicles on July 26, 2022 at State Warehouses. Following are the auction details of motor vehicles: READ MORE: MCC Gwadar to auction motor vehicles on July 18, 2022 LIST OF VEHICLES RIPE FOR AUCTION SWH GODOWN-E, PESHAWAR ON 26.07.2022 S# Make & […]

by Faisal Shahnawaz

Tax through electricity connections on retailers, service providers

Jul 23

Budget 2022-2023, Taxation, Top stories

Tax through electricity connections on retailers, service providers

ISLAMABAD: The Federal Boar of Revenue (FBR) has issued explanation to tax collection through electricity connections from retailers and service providers. In this regard the FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through the Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said that in […]

by Mrs. Anjum Shahnawaz

FBR explains income tax on export of services

Jul 23

Budget 2022-2023, Taxation

FBR explains income tax on export of services

ISLAMABAD: The Federal Board of Revenue (FBR) has explained income tax treatment on export of services as amended through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain the important amendments brought through the Finance Act, 2022 to the Income Tax Ordinance, 2001. The revenue body said that a […]

by Mrs. Anjum Shahnawaz

FBR restores 100% depreciation deduction

Jul 23

Budget 2022-2023, Taxation

FBR restores 100% depreciation deduction

ISLAMABAD: The Federal Board of Revenue (FBR) has restored 100 per cent depreciation deduction on a depreciable asset used in a person’s business for the first time. The FBR restored the depreciation deduction on the basis of amendment brought through Finance Act, 2022. The revenue body issued Income Tax Circular No. 15 of 2022/2023 to […]

by Mrs. Anjum Shahnawaz

FBR notifies graduated tax rates on disposal of securities

Jul 23

Budget 2022-2023, Taxation

FBR notifies graduated tax rates on disposal of securities

ISLAMABAD: The Federal Board of Revenue (FBR) has notified rate of capital gain tax as introduced through Finance Act, 2022 and effective from July 01, 2022. The FBR issued Income Tax Circular No. 15 of 2022-2023 to explain important amendment made through the Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said […]

by Mrs. Anjum Shahnawaz

FBR applies separates CGT rates on immovable properties

Jul 23

Budget 2022-2023, Taxation

FBR applies separates CGT rates on immovable properties

ISLAMABAD: The Federal Board of Revenue (FBR) has implemented capital gain tax on disposal of immovable properties as amended through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022-2023 to explain the important amendments introduced through the Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: FBR explains tax […]

by Mrs. Anjum Shahnawaz

FBR explains tax on deemed income from immovable property

Jul 23

Budget 2022-2023, Taxation

FBR explains tax on deemed income from immovable property

ISLAMABAD: The Federal Board of Revenue (FBR) has explained the new introduced tax on deemed income through Finance Act, 2022. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendment brought through Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said that a new section 7E has been […]

by Mrs. Anjum Shahnawaz

FBR warns officials to shun exerting political pressure

Jul 22

Taxation

FBR warns officials to shun exerting political pressure

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday warned its officials to shun exerting political pressure in service matters. The FBR in an official note said that it had observed with concern that some officers/officials resort to exerting political pressures on the top management in connection with their transfers/postings/deputations and other service matters in […]

by Mrs. Anjum Shahnawaz

Super tax to apply for Tax Year 2022 and onwards: FBR

Jul 21

Budget 2022-2023, Taxation, Top stories

Super tax to apply for Tax Year 2022 and onwards: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that super tax will be applicable for tax year 2022 and onwards. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments made to Income Tax Ordinance, 2001 through Finance Act, 2022. READ MORE: Pakistan enhances income tax rates for banks […]

by Mrs. Anjum Shahnawaz