Income Tax Ordinance, 2001 has granted various exemption to judges of superior courts on their earnings, according to official sources.
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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.
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Applicable duty, tax rates on mobile phones
Applicable rates of duty and tax on mobile phones have been unveiled for the payment at the import stage and collected by Pakistan Customs.
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FBR withdraws sales tax zero-rating on electricity supply to two textile units
KARACHI: Federal Board of Revenue (FBR) has withdrawn sales tax zero rating on supply of electricity to two textile units on misuse of tax concession facility.
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Withholding tax rates on profit on banking deposits
Withholding tax rates on profit on banking deposits have been updated for tax year 2019. In a significant development for the financial sector, the Federal Board of Revenue (FBR) has announced updated withholding tax rates on profit earned from banking deposits for the tax year 2019.
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Late return filers may be allowed entry into ATL
Late return filers of income tax may soon have the opportunity to be included in the Active Taxpayers List (ATL) following proposed amendments to tax laws.
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Withholding income tax rates at import stage for tax year 2019
Withholding income tax rates that will be deducted at the import stage for the tax year 2019 have been unveiled, giving importers in Pakistan a clear picture of their tax obligations.
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Lahore customs intelligence to auction 30 confiscated luxury vehicles on January 24
ISLAMABAD: The Directorate of Customs Intelligence and Investigation, Customs, Lahore is set to conduct an auction of 30 confiscated vehicles, including luxury cars and heavy motorcycles, on January 24, 2018, at the state warehouse of the directorate.
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Collection of Withholding Tax at Import Stage Under Income Tax Ordinance 2001
The Income Tax Ordinance, 2001 outlines the collection of withholding tax at the import stage in Pakistan. This is a crucial revenue collection mechanism and is primarily administered by the Collector of Customs.
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Customs destroys counterfeit products worth Rs120 million
Pakistan Customs took a significant step on Wednesday by destroying a substantial quantity of counterfeit products valued at Rs120 million.
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