The Federal Board of Revenue (FBR) has recently released the updated income tax rates applicable to companies for the tax year 2022.
Section 106 of Income Tax Ordinance, 2001 explained the tax treatment on income of a foreign controlled resident company.
In a bid to simplify the customs clearance process and provide greater transparency to traders, the Federal Board of Revenue (FBR) has introduced a user-friendly Customs Duty Calculator. This online tool is designed to assist traders in assessing and calculating customs duties for their consignments, streamlining the overall clearance procedure.
The Federal Board of Revenue (FBR) issued paper income tax return forms for tax year 2021 on Friday, just a month ahead of the looming filing deadline of September 30, 2021.
Pakistan Customs has successfully seized a cache of arms and ammunition from an Afghan registered import vehicle at Torkham station, as announced by the Federal Board of Revenue (FBR) on Friday.
The Federal Board of Revenue (FBR) has announced the updated rates of withholding tax on the usage of telephone and internet services for the fiscal year 2021-2022.
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday notified a major reshuffle in the top bureaucracy of BS-20 and BS-21 officers in Inland Revenue Service (IRS). The FBR in a notification said that all officers being transferred and posted shall relinquish/assume their charges in accordance with this notification with effect from September 01, 2021:- […]
Section 105 of the Income Tax Ordinance, 2001 explains the taxation on non-resident persons established as permanent residents. 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 is the text of Section 105 of the Income Tax Ordinance, […]
Section 104 of the Income Tax Ordinance, 2001 explains the taxability of expenses incurred on foreign income. 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 is the text of Section 104 of the Income Tax Ordinance, 2001: […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday reduced rate of sales tax on supply of petrol (Motor Spirit). The revenue body issued SRO 1072(I)/2021 to make change in sales tax rate on supply of petrol. According to the notification the sales tax rate on supply of petrol has been reduced to 10.54 per […]