Provincial registered taxpayers require to pay advance income tax

KARACHI: Persons registered for sales tax with the provincial revenue authorities are required to pay advance income tax to Federal Board of Revenue (FBR) on the basis turnover declared before the provincial... Read more »

Advance tax exempted on sale of immovable properties on holding period of above five years

KARACHI: The Federal Board of Revenue (FBR) has exempted the advance tax on sale of immovable property subject to the property is held for above five years. Read more »

Finance Bill 2019: Advance tax increased by 900 percent on renewal of license by arhatis

ISLAMABAD: The government has increased the advance tax by 900 percent (nine times) at the time of renewal of license by middleman of a commodity markets in agriculture sector. Read more »

Income Tax Ordinance 2001: advance tax on paying education fee abroad

KARACHI: Foreign exchange companies are responsible for collecting advance tax on remitting abroad the education related expenses. Read more »

Provincial sales tax registered persons liable to pay advance income tax

KARACHI: Federal Board of Revenue (FBR) has said that sales tax registered persons with the provinces are required to pay advance income tax. Read more »

Income Tax Ordinance 2001: payment of advance tax on quarterly basis

KARACHI: Taxpayers are liable to pay advance tax against their estimated annual income on quarterly basis under Income Tax Ordinance, 2001. Read more »

No advance tax on sale, purchase of shares from February 01

KARACHI: The government has abolished a provision for collection of advance tax at 0.02 percent on sale and purchase of shares in stock exchange. Read more »

Non-filers allowed motor vehicle purchase on enhanced tax rates

KARACHI: In order to generate sizeable revenue during the current fiscal year the government has lifted the ban on non-filers for purchasing motor vehicles. Read more »

PM task force proposes zero percent income tax on internet

ISLAMABAD: Prime Minister’s Task Force has proposed zero percent income tax on internet for promotion of IT industry.       Second meeting of Prime Minister’s Task Force on IT and Telecom... Read more »

Advance tax on domestic, international air tickets adjustable

KARACHI: The advance tax rates have be prescribed on domestic and foreign air tickets to be collected from purchaser of the tickets. Read more »