Tag: advance tax

Taxation

Provincial registered taxpayers require to pay advance income tax

— January 8, 2020 add comment
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 »
Taxation

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

— December 28, 2019 add comment
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 »
2019-2020

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

— June 13, 2019 add comment
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 »
Exclusive

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

— March 24, 2019 add comment
KARACHI: Foreign exchange companies are responsible for collecting advance tax on remitting abroad the education related expenses. Read more »
Exclusive

Provincial sales tax registered persons liable to pay advance income tax

— February 9, 2019 add comment
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 »
Exclusive

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

— February 8, 2019 add comment
KARACHI: Taxpayers are liable to pay advance tax against their estimated annual income on quarterly basis under Income Tax Ordinance, 2001. Read more »
Budget

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

— January 24, 2019 add comment
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 »
Budget

Non-filers allowed motor vehicle purchase on enhanced tax rates

— January 24, 2019 1 comment
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 »
IT & Telecom

PM task force proposes zero percent income tax on internet

— January 15, 2019 add comment
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 »
Taxation

Advance tax on domestic, international air tickets adjustable

— January 15, 2019 add comment
KARACHI: The advance tax rates have be prescribed on domestic and foreign air tickets to be collected from purchaser of the tickets. Read more »
Stock & Commodity

KSE-100 gains 364 points on expected relief in mini budget

— January 14, 2019 add comment
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 364 points owing to expected relief in advance tax and capital gain tax. Read more »
Stock & Commodity

Abolishing advance tax on share sale, purchase on the cards

— January 13, 2019 add comment
KARACHI: The government is likely to abolish advance tax on sale and purchase of shares in the capital market on the demand of Pakistan Stock Exchange (PSX), sources said on Saturday.  ... Read more »