FBR exempts sales tax on local supply of imported sugar

ISLAMABAD: Federal Board of Revenue (FBR) on Monday exempted 17 percent sales tax on domestic sale of imported sugar. The FBR issued SRO 1038(I)/2020 to comply with the government decision to allow... Read more »

FBR grants tax exemption of Rs1.1 billion on gratuity payments

ISLAMABAD: Federal Board of Revenue (FBR) has granted exemption of Rs1.11 billion on payment of gratuities to government employees or gratuity fund during tax year 2020. The exemption has been granted under... Read more »

Teachers, researchers avail Rs2.42 billion income tax exemption

ISLAMABAD: Teachers and researchers have availed tax exemption to the tune of Rs2.42 billion on their income during Tax Year 2020, official sources said on Tuesday. Under Clause 1(2) of Part 3... Read more »

FBR grants Rs27 billion income tax exemption to power generation companies

ISLAMABAD: Federal Board of Revenue (FBR) has granted an exemption from income tax to the tune of Rs27 billion during tax year 2020 to power generation companies. During the tax year 2020,... Read more »

FPCCI expresses concerns over grant of huge exemptions to FTAs, PTAs

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over huge amount of exemptions, concessions granted under Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTA). The apex... Read more »

FBR exempts customs duty on oxygen gas, cylinder import

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday granted exemption from customs duty on import of oxygen gas and oxygen gas cylinders in order to ensure availability in the wake of coronavirus... Read more »

FBR grants Rs30 billion as tax concession to new business entities

ISLAMABAD: Federal Board of Revenue (FBR) has granted Rs30 billion as initial allowance to new business entities during fiscal year 2019/2020. The concession of allowance has been granted under Section 23 of... Read more »

FBR grants Rs45 billion customs duty exemption under free trade agreements

KARACHI: Federal Board of Revenue (FBR) has granted an amount Rs45 billion as cost of customs duty exemption and concession of customs duty on imports under free and preferential trade agreements. According... Read more »

Sindh exempts sales tax on life insurance service

KARACHI: Sindh government has exempted sales tax on services provided by life insurance companies for full fiscal year i.e. July 01, 2019 to June 30, 2020. Sindh Revenue Board (SRB) issued notification... Read more »

FBR exempts sales tax on import of 61 medical equipments

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced sales tax exemption on import of 61 medical equipments, which are important to fight against COVID-19. The FBR issued SRO 555(I)/2020 to grant... Read more »