Provinces Miss Deadline to Amend Agricultural Tax Laws

Dec 3

National, Taxation

Provinces Miss Deadline to Amend Agricultural Tax Laws

ISLAMABAD: The federal government has confirmed that provinces failed to meet the deadline for amending their agriculture income tax legislation, which was set for October 2024. This was disclosed during a presentation to the National Assembly Standing Committee on Finance, where officials provided an update on the quantitative performance criteria and structural benchmarks related to […]

by Mrs. Anjum Shahnawaz

Punjab Approves New Agricultural Income Tax Amendments

Nov 15

National, Taxation

Punjab Approves New Agricultural Income Tax Amendments

Lahore, November 15, 2024 – In a significant move, the Punjab Assembly passed the Punjab Agricultural Income Tax (Amendment) Bill 2024 on Thursday, despite opposition protests and a walkout by members of the Pakistan Peoples Party (PPP) and Pakistan Tehreek-e-Insaf (PTI).

by Mrs. Anjum Shahnawaz

Pakistan to Implement Agriculture Tax by July 2025: Aurangzeb

Oct 10

Taxation

Pakistan to Implement Agriculture Tax by July 2025: Aurangzeb

ISLAMABAD: Pakistan is set to introduce a long-anticipated tax on the agriculture sector, with legislation expected to be finalized by January 2025 and tax collection commencing on July 1, 2025, Finance Minister Muhammad Aurangzeb announced a day earlier.

by Mrs. Anjum Shahnawaz

Aurangzeb Hopes Provinces to Legislate for Agriculture Tax

Jul 28

Finance, Top stories

Aurangzeb Hopes Provinces to Legislate for Agriculture Tax

Islamabad, July 28, 2024 – Finance Minister Muhammad Aurangzeb expressed optimism that all provinces will legislate to bring agricultural income into the tax net.

by Mrs. Anjum Shahnawaz

Pakistan Rules Out Additional Tax on Agriculture Income

Jul 19

National, Taxation, Top stories

Pakistan Rules Out Additional Tax on Agriculture Income

Islamabad, July 19, 2023: Coordinator to Prime Minister on Economy and Energy, Bilal Azhar Kayani, categorically stated on Wednesday that the government has no intentions of imposing additional taxes on the income of the agriculture sector.

by Mrs. Anjum Shahnawaz

FBR offers help to provinces in broadening agri tax base

Aug 30

Taxation

FBR offers help to provinces in broadening agri tax base

ISLAMABAD: The Federal Board of Revenue (FBR) has offered assistance to the provinces in broadening the tax base in agriculture sector. Under the Constitution of Pakistan, the provinces have mandate to collect tax on agriculture income.

by Mrs. Anjum Shahnawaz

Sindh launches application for agriculture income tax calculation

Jul 15

Taxation

Sindh launches application for agriculture income tax calculation

KARACHI: The Board of Revenue, Sindh has launched an application for calculation of agriculture income tax and issuance of sales certificate. A statement on Tuesday said that the BOR Sindh launched revenue applications for facilitating general public for issuance of sales certificate and calculation of agricultural income tax. The applications are available of the website […]

by Mrs. Anjum Shahnawaz

FTO takes suo moto notice in concealing income in garb of agriculture tax, Iranian oil sale

Apr 21

Taxation

FTO takes suo moto notice in concealing income in garb of agriculture tax, Iranian oil sale

ISLAMABAD: Federal Tax Ombudsman (FTO) has taken suo moto notice and initiated investigation in open sale of Iranian oil in Balochistan and tax evasion in the garb of agriculture tax. The annual report 2018 issued by the office of FTO, stated that during the year the FTO proactively invoked powers to take action on own […]

by Faisal Shahnawaz