Pakistan Revenue
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KARACHI: Federal Board of Revenue (FBR) on Saturday issued rules for implementing tax amnesty scheme 2019. The FBR on May 20, 2019 issued draft rules for inviting comments of stakeholders till May 22 to finalize the rules. In this regard the FBR today (May 25) issued SRO 578(I)/2019 to issue the rules for Asset Declaration […]
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KARACHI: State Bank of Pakistan (SBP) Friday issued draft procedure for payment of duty and taxes against declaration made to avail amnesty scheme. According to draft text made available to PkRevenue.com, the SBP said that in pursuance of the section 9 of the Asset Declaration Ordinance, 2019 (hereinafter referred to as the “Ordinance”), State Bank […]
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KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the government to eliminate culture of amnesty schemes as such measures encourage tax evaders.
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued Urdu version of presidential ordinance for Tax Amnesty Scheme – 2019. The FBR said that the Urdu translated version had been issued for the facilitation of people to understand the scheme and participate/avail proactively. However, the FBR said that the translated version can not be referred […]
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ISLAMABAD: Syed Muhammad Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR) Wednesday warned industrial and commercial consumers of gas and electricity to get registered with sales tax authorities, otherwise penal action will be initiated from July 01, 2019. Addressing a press conference, he said that currently there were around 341,174 industrial electricity connection and 7000 […]
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KARACHI: Sindh Revenue Board (SRB) on Monday launched an amnesty scheme to exempt penalty amount on payable as sales tax on services. However, concession has been granted on the payment of default surcharge. The SRB issued notification stating that the provincial revenue board had exempted the whole of the amount of penalty and such of […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified draft rules to implement tax amnesty scheme 2019. The FBR invited comments or objections on the rules by May 22, 2019. According to the draft rules, the FBR notified following conditions for making declaration for foreign and domestic declaration: (1) For the purpose of incorporation of […]
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KARACHI: The members of Federation of Pakistan Chambers and Commerce of Industry (FPCCI) have unanimously declared the recently announced tax amnesty by the present government is step in right direction. The FPCCI held an emergent meeting of its members at its head office Karachi on Saturday under the chairmanship of Abdul Rauf Mukhtar, Acting President […]
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KARACHI: The government has allowed whitening of money investment in immovable properties at nominal income tax rate of 1.5 percent on declaration made by June 30, 2019.
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SLAMABAD: The amnesty scheme announced by the government for foreign and domestic undeclared assets a day earlier has been launched through promulgation of presidential ordinance on Wednesday. Following is the text of the presidential ordinance: An ORDINANCE To provide for voluntary declaration of undisclosed assets, sales and expenditure WHEREAS there is a reportedly large scale […]
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