Karachi, August 6, 2023 – The Federal Board of Revenue (FBR) has announced the latest tax rates for electricity consumption for the fiscal year 2023-24.
Domestic consumers of electricity are not subject to withholding income tax if their names are in the Active Taxpayers List (ATL). The Federal Board of Revenue (FBR) has issued updated withholding tax card 2022-2023 after incorporating amendments made through Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: Tax rates on goods, passenger […]
Karachi Chamber of Commerce and Industry (KCCI) on Monday demanded the authorities to extend the last date for payment of electricity bills across Pakistan as in the ongoing extraordinary situation, neither the business and industrial community nor the poor masses were in a position to pay their bills. Keeping in view the hardships being faced […]
ISLAMABAD: The government on Sunday ordered an inquiry into collection of sales tax at increased sales tax ratio from retailers. A statement said that Prime Minister Muhammad Shehbaz Sharif had directed to launch an inquiry into the imposition of higher Sales Tax ratio on small traders through electricity bills other than the agreed one. READ […]
ISLAMABAD: The federal government on Thursday clarified that the tax through electricity bills has not been taken back so far. A clarification has been issued through official media of the government of Pakistan that news being released by some media channels that the government has taken back the decision of tax on electricity bills. READ […]
ISLAMABAD: The Federal Boar of Revenue (FBR) has issued explanation to tax collection through electricity connections from retailers and service providers. In this regard the FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through the Finance Act, 2022 to the Income Tax Ordinance, 2001. The FBR said that in […]
ISLAMABAD: The government has announced a fixed tax regime for small retailers, which will be collected their monthly electricity bills. The fixed tax regime has been proposed through budget 2022/2023, which was announced on June 10, 2022. Through Finance Bill, 2022 amendment has been made to Income Tax Ordinance, 2001 to propose special provisions relating […]
ISLAMABAD: The share of electricity consumption by domestic and commercial consumers in the total consumption has declined during first nine months of the current fiscal year, according to Economic Survey of Pakistan 2021/2022. The share of electricity consumption by household users fell to 47 per cent during July – March 2021/2022 as against the share […]
ISLAMABAD: Federal Board of Revenue (FBR) has issued 60,000 notices to commercial and industrial electricity consumers for mandatory registration and filing of income tax returns. Syed Shabbar Zaidi in a tweet on Wednesday said that over 60,000 notices to non-registered / non-compliant persons were being jointly sent by FBR and Faisalabad Electric Supply Company (FESCO) […]
KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has suggested the tax authorities to review imposition of extra sales tax on electricity and gas as this levy is passed unnecessarily to consumers by utility companies. The ICAP in its tax proposals for budget 2019/2020 submitted to Federal Board of Revenue (FBR) said that in terms […]