Law allows certain persons to avail tax credit
Section 65F of Income Tax Ordinance, 2001 has allowed tax credit for certain persons against their incomes.
Section 65F of Income Tax Ordinance, 2001 has allowed tax credit for certain persons against their incomes.
Tax credit for establishing industrial undertaking has been clarified by the Federal Board of Revenue (FBR) to facilitate the business community.
Tax incentive for companies on purchase of machinery and expansion has been clarified by the Federal Board of Revenue (FBR).
Tax credits for various provisions of law have outlined by the Federal Board of Revenue (FBR) as explained under Section 65 of the Income Tax Ordinance, 2001.
ISLAMABAD: The Federal Board of Revenue (FBR) has explained tax treatment of erstwhile FATA/PATA domiciled industries after amendment brought through Finance Act, 2021. The FBR in a circular No. 03 issued on Tuesday said a number of significant amendments have been introduced through Finance Act, 2021 in the Sales Tax Act, 1990 as applicable to […]
The Federal Board of Revenue (FBR) has issued updated rates of withholding tax on income from the property for the year 2021-2022. The withholding tax shall be collected by every prescribed person from the recipients of rent of the immovable property. The FBR collects withholding tax on income from property under Section 155 of the […]
The Federal Board of Revenue (FBR) has granted sales tax exemption on the import of essential medical equipment. The FBR issued SRO 1007(I)/2021 on Monday, listing a comprehensive array of medical goods that will be exempted from sales tax, aiming to facilitate the procurement and availability of critical equipment.
In a determined move to enforce compliance with the newly introduced Point of Sale (POS) integration system, a tax office of the Federal Board of Revenue (FBR) has taken stringent measures by sealing three retail shops in Karachi for failing to install POS machines.
A tax office of the Federal Board of Revenue (FBR) has filed a reference against the chairman of a prominent Islamic bank, accusing him of engaging in benami transactions to obtain properties.
KARACHI: The Federal Board of Revenue (FBR) has been urged to issue a simplified income tax return forms for taxpayers of small and medium enterprises (SMEs).