FBR issues list of 3,184 registered NPOs, NGOs

ISLAMABAD: Federal Board of Revenue (FBR) issued a list of 3,184 Non-Profit Organizations (NPOs) and Non-Governmental Organization (NGOs) that are registered with the tax authorities. Read more »

Sales tax rates on professional services issued

KARACHI: Sindh Revenue Board (SRB) has issued amended working tariff for tax year 2020 under which the tax rate for rendering professional services shall be at 13 percent. Read more »

Sales tax on mobile phones reduced by 85% to promote digital economy: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has reduced sales tax on imported mobile phones by 85 percent in order to promote digital economy in the country. Read more »

Return filing for tax year 2019 must for salary income above Rs400,000

KARACHI: Persons having salary income above Rs400,000 are required to file income tax returns for tax year 2019 as slabs revised through Finance Act, 2019 will be applicable for tax year 2020,... Read more »

Sales tax rates for services rendered on sale, purchase of immovable properties

KARACHI: Sindh Revenue Board (SRB) has issued sales tax rate for service provided on sale and purchase of immovable properties within the province. Read more »

FBR directs withholding agents to clearly mention CNIC of non-ATL persons

KARACHI: Withholding agents have been directed to clearly mention the Computerized Identity Card Number (CNIC) of persons whose amounts have been withheld under various transactions. Read more »

Income tax return filing hits new record high

KARACHI: Income tax return filing has increased to a new record high of 2.76 million as people making compliance to avoid 100 percent additional tax on persons not appearing on Active Taxpayers... Read more »

Uniform income tax rate applied on dividend income

ISLAMABAD: The income tax rates on dividend income on various shares of companies have been increased to make an uniform rate applicable for tax year 2020 and onwards. Read more »

FBR upgrades data entry operators to BS-14

ISLAMABAD: Federal Board of Revenue (FBR) has upgraded the post of Data Entry Operators (DEOs) to BS-14 from BS-12 following the approval of the finance ministry. Read more »

FBR to impose penalty for not printing retail price on imported goods

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that printing of retail price on imported consumer items is mandatory and any violation by importer/manufacturer will attract fine and penalty. Read more »

LTU Karachi collects Rs688 billion, registers 15% growth in first half

KARACHI: Large Taxpayers Unit (LTU) Karachi has collected Rs688 billion during first six months (July – December) of 2019/2020 as against Rs598 billion in the corresponding period of the last fiscal year,... Read more »

Profit on debt above Rs36 million to be treated as normal tax

KARACHI: The rate of tax on profit on debt above Rs36 million shall be treated as normal tax rate, tax officials said on Tuesday. Read more »