Islamabad: In a significant move, Pakistan has passed legislation aimed at expanding the scope of permanent establishment to regulate transactions conducted through electronic mediums.
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Stay updated on taxation news, tax laws, FBR policies, compliance, audits, income tax, sales tax, and fiscal developments in Pakistan.
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Revival of Tax on Bonus Shares through Finance Act, 2023
Karachi, Pakistan – The Finance Act, 2023, has brought back the tax on bonus shares, which will take effect from July 1.
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Experts Analyze Amendments to Deemed Property Income in Finance Act 2023
With the implementation of the Finance Act 2023 from July 1, 2023, significant amendments have been made to the provisions related to deemed income.
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Pakistan Scraps Proposal to Grant Immunity to Foreign Remittances
Karachi, June 28, 2023: Following strong criticism from stakeholders, Pakistan has decided to withdraw its proposal to grant immunity to the inflow of foreign remittances.
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Threshold of Cash Salary Payment Increased to Rs32,000
Karachi, June 28, 2023: The Finance Act, 2023 has introduced a significant amendment to increase the threshold of cash salary payment to Rs32,000.
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Banks to Collect 0.6% Tax on Cash Withdrawal from Non-Filers
Islamabad, June 28, 2023: The National Assembly of Pakistan has given its approval to implement a withholding tax on cash withdrawals made by non-filers of income tax returns, effective from July 1, 2023.
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Active Taxpayers Exempted from Deemed Income Tax
Islamabad, June 27, 2023: The government has announced that active taxpayers will no longer be required to pay tax on deemed income, according to the Finance Act, 2023.
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Additional Tax on Windfall Income Becomes Act of Parliament
Islamabad, June 27, 2023 – The national assembly has passed the budget proposals, making the additional tax on windfall income a law, according to experts.
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LTO Karachi Surpasses Landmark Tax Collection of Rs2 Trillion
Karachi, June 26, 2023: The Large Taxpayers Office (LTO) Karachi on Monday achieved a significant milestone by surpassing the landmark gross revenue collection of Rs2 trillion during the fiscal year 2022-2023.
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KTBA Raises Concerns to FBR Regarding Challenges in Filing Sales Tax Returns
The Karachi Tax Bar Association (KTBA) on Monday reached out to the Federal Board of Revenue (FBR) to highlight the difficulties encountered by taxpayers while filing sales tax returns.
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