KARACHI: Federal Board of Revenue (FBR) has explained the due date for payment of tax under Section 137 of 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 notifies promotion of 41 IRS officers to BS-20 and BS-21
ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified promotion of 41 officers of Inland Revenue Service (IRS) to BS-20 and BS-21.
(more…) -
Bill to further empower FBR to tighten noose around undisclosed offshore assets
ISLAMABAD – The Federal Board of Revenue (FBR) has announced a significant move to enhance its authority in dealing with undisclosed offshore assets, as outlined in the proposals of the Finance Supplementary (Second Amendment) Bill, 2019.
(more…) -
FBR asks business community to suggests measures to stop tax fraud
The Federal Board of Revenue (FBR) has reached out to the business community, urging them to propose measures aimed at eliminating tax evasion, counterfeit invoices, and plugging existing loopholes in the tax system.
(more…) -
Auction of 26 luxury vehicles of PM House on Jan 28
ISLAMABAD: An auction of luxury vehicles of the Prime Minister House will be held on January 28, 2019 at the Islamabad Dry Port, according to a notification.
(more…) -
Reform package exempts withholding tax for rupee accounts receiving foreign remittances
KARACHI: The new reform package has allowed exemption from collection of withholding tax on cash withdrawals from a bank account maintained in local currency where deposits are made through foreign remittances.
(more…) -
Bill proposes valuation in US Dollar for imported mobile phones to collect smart phone levy
KARACHI – The Finance Supplementary (Second Amendment), 2019 has introduced a proposed overhaul in the valuation and levy structure for imported mobile phones, shifting from Pakistani Rupees to US Dollars.
(more…) -
Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials
In a major move aimed at boosting both the export sector and domestic industrial production, the Pakistani government has unveiled plans to eliminate or reduce customs duty, additional customs duty, and regulatory duty on 135 tariff lines associated with crucial raw materials.
(more…)