KARACHI: Federal Board of Revenue (FBR) has imposed additional tax liability on Meezan Bank Limited by making changes to deemed assessment order, sources said on Friday.
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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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Pakistan customs to collect duty, taxes on Saturday-Sunday
The Federal Board of Revenue (FBR) has directed all the collectorates of Pakistan Customs to observe extended working days on Saturday and Sunday.
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Tax Laws Allow Arrest Taxpayers in Pakistan for Default
Tax laws in Pakistan have allowed authorities to arrest defaulting taxpayers. This power has is granted under the Income Tax Ordinance, of 2001.
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FBR plans to take measures for achieving revenue collection target
Federal Board of Revenue (FBR) is set to take all necessary measures to meet the revenue collection target for the fiscal year 2022-2023.
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Understanding the Basics of Income from Property under Pakistan Tax Laws
Income tax is an important source of revenue for any country, and Pakistan is no exception. The Income Tax Ordinance, 2001, is the main legislation governing the taxation of income in Pakistan.
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FBR releases updated ATL, showing increase in active taxpayers to 3.55 million
On April 24, 2023, the Federal Board of Revenue (FBR) released the updated Active Taxpayers List (ATL) based on income tax returns filed up until that date.
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Tax Treatment of Foreign Source Income for Residents in Pakistan
Pakistan is a country that attracts a significant amount of foreign investment and remittance flows. As a result, there are many residents in Pakistan who have foreign-source income.
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Understanding Currency Conversion for Tax Purposes in Pakistan
When it comes to tax assessment in Pakistan, it’s important to understand the rules around currency conversion.
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Determining Property Tax in Pakistan: Understanding Fair Market Value
Property taxes are an important source of revenue for governments all over the world, and Pakistan is no exception.
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Policy requires duty and taxes on all mobile phones imported into Pakistan
Pakistan has recently implemented a new policy regarding the import of mobile phones into the country, official sources said recently.
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