KARACHI: The Tier-1 retailers will collect one rupee from customers against issuance of invoice from their point of sale (POS) machine.
In a bid to provide clarity on the income tax treatment for expenditures or losses that are initially deducted but later compensated, Section 70 of the Income Tax Ordinance, 2001 outlines specific provisions.
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday issued draft paper income tax return form for tax year 2021. The FBR issued SRO 1022(I)/2021 to notify the draft income tax return forms. The revenue body invited objection or suggestions within seven days from date of issuance of the SRO. “Objections or suggestions, which may […]
Section 69 of Income Tax Ordinance, 2001 provides treatment of time for receiving amount under tax law.
The Sindh Revenue Board (SRB) has announced an extension in the last date for payment and filing of sales tax return for the tax period of July 2021.
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday said that a limitation of 120 days has been imposed with regard to the period of time during which amendment of assessment under section 122 of the Ordinance must be completed. The FBR in a circular No. 4 Income Tax (Operations) stated that owing to availability […]
Islamabad – The Federal Board of Revenue (FBR) has released updated withholding tax rates on exports of goods and services for the fiscal year 2021-2022.
Islamabad, January 12, 2024 – The Federal Board of Revenue (FBR) has announced the withholding tax rates applicable to retailers at the time of sales by manufacturers for the fiscal year 2021-2022.
In a recent cyber onslaught, the Information Technology (IT) wing of the Federal Board of Revenue (FBR) emerged triumphant in safeguarding the tax system’s database against a Trojan malware attack.
The Federal Board of Revenue (FBR) issued a clarification on Sunday regarding the recent disturbance in Customs Operations attributed to the upgradation of the FBR Data Center.