The Federal Board of Revenue (FBR) has issued a stern warning to inquiry officers, cautioning them of potential disciplinary action for prolonged delays in submitting inquiry reports.
ISLAMABAD: The Federal Board of Revenue (FBR) will constitute local valuation committee for customs valuations of goods imported or exported from Afghanistan and Iran. Through SRO 1352 (I)/2021 dated October 14, 2021, the FBR issued draft amendments for local valuation committee rules under Section 25A of the Customs Act, 1969. The proposed amendments would be […]
KARACHI: The Federal Board of Revenue (FBR) to introduce a new and efficient system for payment of all kind of tax payments, said a top tax official. “We will introduce a new and efficient system replacing IRIS in which all kinds of taxes can be easily paid in one place,” a press statement quoted Tariq […]
Islamabad: The Federal Board of Revenue (FBR) has unveiled the tax rates applicable to builders and developers for the tax year 2022.
KARACHI: National Clearing Company of Pakistan Limited (NCCP) on Wednesday said that it will collect Capital Gain Tax (CGT) for the month of August 2021 on Friday October 29, 2021. In a communication sent to stock brokers and investors, the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan […]
ISLAMABAD: In a bid to counter rising inflation and alleviate the economic burden on citizens, the government has decided to reduce duty and taxes on the supply of edible oil.
In a bid to streamline taxation procedures and ensure clarity for taxpayers, the Federal Board of Revenue (FBR) has released details regarding the tax rates on immovable property for the tax year 2022. The information is part of the Income Tax Ordinance, 2001, updated up to June 30, 2021, incorporating amendments introduced through the Finance […]
The tax rates on disposal of securities for tax year 2022 under the First Schedule of the Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following are the rates on disposal of securities: The rate of tax to be […]
The Federal Board of Revenue (FBR) has specified the tax rates on shipping and air transport income earned by non-resident persons under Section 7 of the Income Tax Ordinance, 2001.
The Federal Board of Revenue (FBR) has announced updated tax rates for payments made to certain non-residents, specifically on account of royalty or fees for technical services, as defined under Section 6 of the Income Tax Ordinance, 2001.