The Federal Board of Revenue (FBR) has successfully collected Rs2.23 billion as Capital Value Tax (CVT) on foreign assets owned by resident individuals.
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday issued procedure and collection of capital value tax (CVT). The government through Finance Act, 2022 imposed capital value tax on sale of immovable properties and motor vehicles. Following are the procedure and collection of the CVT. READ MORE: FBR may extend date for return filing tax […]
KARACHI: Pakistan has re-introduced capital value tax (CVT) at one per cent of the value of motor vehicle on locally manufactured as well as on imported vehicles. According to interpretation of Finance Act, 2022 by PwC A. F Ferguson & Co. through section 7 of the Finance Act 1989, CVT was imposed on transfer of […]
ISLAMABAD: Federal Board of Revenue (FBR) has allowed correction in computerized payment receipt (CPR) for capital value tax (CVT). In this regard, the FBR amended the procedure. The FBR issued an addendum on Thursday to the e-procedure that was notified on December 30, 2019. Previously, the FBR granted correction in CPR for income tax, sales […]
KARACHI: The government has abolished Capital Value Tax (CVT) on purchase value of any instrument of redeemable capital, Pakistan Stock Exchange (PSX) informed to all members of the exchange. The PSX informed all TREC Holders and shareholders that the Tax Laws (Amendment) Ordinance, 2020 has been published through which the said amendment ordinance, sub-section (1) […]