Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has issued comprehensive tax guidelines for builders and developers in light of the amendments introduced through the Finance Act, 2024, to the Income Tax Ordinance, 2001.
(more…)Category: Taxation
Pakistan Revenue delivers the latest taxation news, covering income tax, sales tax, and customs duty. Stay updated with insights on tax policies, regulations, and financial developments in Pakistan.
-
FBR Rolls Out 10% Surcharge Calculation for Salaried Person
Karachi, July 30, 2024 – Federal Board of Revenue (FBR) has issued formula for calculating surcharge on income above Rs 10 million through newly introduced Section 4AB of Income Tax Ordinance, 2001.
(more…) -
Customs Agents of Karachi and Chattogram Discuss Clearance
Karachi, July 29, 2024 – Mehmood ul Hasan Awan, General Secretary of the Karachi Customs Agents Association (KCAA), announced that for the first time in KCAA’s history, a virtual meeting was held on July 27, 2024, between the Karachi Customs Agents Association and the Chattogram Customs Agents Association.
(more…) -
FBR Sets July 31 as Deadline for Tax Payment by Retailers
Karachi, July 29, 2024 – The Federal Board of Revenue (FBR) has announced July 31, 2024, as the deadline for shopkeepers and retailers to make the first monthly payment of advance tax under the Tajir Dost Scheme.
(more…) -
Business Income Tax Rates for 2024 Return Filing
Islamabad, July 28, 2024 – Business individuals are required to file their annual returns for the tax year 2024 based on the tax rates updated until June 30, 2024, as released by the Federal Board of Revenue (FBR).
(more…) -
FBR Notifies Tax Rates on Electricity Consumption for 2024-25
Karachi, July 27, 2024 – The Federal Board of Revenue (FBR) has announced the new income tax rates on electricity consumption for the fiscal year 2024-25. The updated rates are part of the amendments made to the Income Tax Ordinance, 2001 through the Finance Act, 2024.
(more…) -
Salary Income Slabs for Tax Year 2024 Return Filing
Karachi, July 27, 2024 – As the deadline for filing income tax returns for the tax year 2024 approaches, salaried individuals are grappling with understanding which salary slabs to apply.
(more…) -
FBR Simplifies Active Taxpayer Status Verification
Karachi, July 27, 2024 – The Federal Board of Revenue (FBR) has implemented new, streamlined methods for taxpayers to verify their active status, which is essential for availing tax benefits. Individuals and businesses can now easily confirm their eligibility through several accessible channels.
(more…) -
SRB Imposes 15% Sales Tax on Call Center Services
Karachi, July 26, 2024 – The Sindh Revenue Board (SRB) has announced the imposition of a 15% sales tax on services provided by call centers for the tax year 2024-25.
(more…) -
Sindh Grants Sales Tax Exemption for Construction Services
Karachi, July 26, 2024 – The Sindh government has announced a significant exemption of sales tax on services rendered by construction companies, subject to specific conditions, in a move aimed at stimulating the construction sector and facilitating growth.
(more…)