April 30 last day for filing annual return; eyes on amnesty scheme for further extension

ISLAMABAD: Tomorrow April 30, 2019 is the last day for filing income tax return for Tax Year 2018, which was extended many times since the actual filing date. Read more »

Withholding tax card for dividend income, return on Sukuk: updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for Tax Year 2019 incorporating amendment made to Income Tax Ordinance, 2001 through Finance Supplementary (Second Amendment) Act, 2001. Read more »

Sales Tax Act 1990: IR officers empowered with free access to enter business premises

KARACHI: Authorized officers of Inland Revenue have access to business premises of sales tax registered taxpayers to inspect record of sales and purchases. Read more »

FTO recommends 20 percent increase in withholding tax rates

KARACHI: Federal Tax Ombudsman (FTO) has recommended 20 percent increase in adjustable withholding taxes in order to encourage income tax return filing. Read more »

Sales Tax Act 1990: IR officers authorized to arrest fraudsters

KARACHI: The sales tax law has authorized officers of Inland Revenue to arrest persons committing fraud or any other offence. Read more »

Cash withdrawal tax card: updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has issued updated up to March 09, 2019 for withholding tax rate on cash withdrawal from banking system. Read more »

Sales Tax Act 1990: IR officers empowered to summon persons

KARACHI: The sales tax laws have empowered officers of Inland Revenue to summon person in legal proceedings for evidence and produce documents. Read more »

MCC Preventive announces auction of vehicles on April 30

KARACHI: Model Customs Collectorate (MCC) Preventive, Karachi has announced public auction of confiscated vehicles to be held on April 30, 2019 at NMB WHARF, Ghasbandar, East Wharf, Karachi. Read more »

Deduction of withholding tax on phone cards begins

ISLAMABAD: Federal Board of Revenue (FBR) has started collecting withholding tax on phone cards on Friday following the judgment of the Supreme Court of Pakistan (SCP). Read more »

FBR set asides penalty on four customs officials

ISLAMABAD: Federal Board of Revenue (FBR) on Friday set-aside penalty imposed on four officials of Customs collectorate Quetta with future warning. Read more »

Salary tax card – updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated tax rate for salary persons as per Finance Supplementary (Second Amendment) Act, 2019. Read more »

Sales Tax Act 1990: imposition of default surcharge in fraud, non-payment

KARACHI: A person willfully does not make sales tax payment or commits fraud shall liable to pay default surcharge along with actual amount. Read more »