June 25, 2022

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Pakistan Revenue

Tag: exemption

FBR exempts customs duty on import of oxygen gas
Apr 6
Taxation

FBR exempts customs duty on import of oxygen gas

ISLAMABAD: Federal Board of Revenue (FBR) has exempted customs duty on import of oxygen gas and oxygen cylinders. The FBR issued SRO 488(I)/2022 dated April 05, 2022 to exempt the customs duty on import of oxygen gas and oxygen cylinders. The revenue body said that exemption from customs duty has been granted for medical purpose […]

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Erstwhile FATA/PATA units to get exemption on quota
Apr 3
Taxation, Top stories

Erstwhile FATA/PATA units to get exemption on quota

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to allow tax exemption to industries located in erstwhile FATA/PATA on the basis quota determined against installed capacity. An important meeting held in FBR Headquarter on April 01, 2022, (Friday). Chairman FBR Dr. Muhammad Ashfaq Ahmed reviewed progress regarding determination of quota for import of raw […]

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Highlights of Finance (Supplementary) Bill, 2021
Jan 9
Taxation

Highlights of Finance (Supplementary) Bill, 2021

PWC A. F. Ferguson & Co. has issued a memorandum to highlight amendments proposed through the Finance (Supplementary) Bill, 2021 which has been laid before the Parliament on December 30, 2021. It said that through the Bill, certain amendments have been made in the Income Tax Ordinance, 2001; Sales Tax Act, 1990; Federal Excise Act, […]

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Pakistan allows sales tax exemption on Afghan fruits
Nov 22
Taxation

Pakistan allows sales tax exemption on Afghan fruits

ISLAMABAD: Pakistan has allowed tax-free import of fruits from Afghanistan and in this regard, a sales tax notification is issued on Monday. The Federal Board of Revenue (FBR) issued SRO 1501(I)/2021 to implement the decision of the government to allow tax-free import of fruits. The FBR said that the federal government is pleased to exempt […]

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Tax exemption allowed on import of 30 million face masks
Jul 28
Taxation

Tax exemption allowed on import of 30 million face masks

ISLAMABAD: Federal Board of Revenue (FBR) has granted tax exemption on import of 30 million face masks. The FBR issued SRO 952(I)/2021 on Wednesday to allow the sales tax exemption. According to the SRO, the tax authorities allowed the exemption in pursuance of decision made by the federal government on July 19, 2021. The FBR […]

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FBR explains exemption withdrawal not new tax
Jun 14
Taxation

FBR explains exemption withdrawal not new tax

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday explained that withdrawal of exemption and concession does not mean imposition of new taxes. Clarifying to a news report, the FBR said that withdrawal of exemption and reduced rates should not be confused with imposition of new taxes. It is very clearly and candidly informed that […]

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FBR notifies duty exemption on cotton yarn import
May 6
Pakistan Customs

FBR notifies duty exemption on cotton yarn import

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified exemption of customs duty on import of cotton yarn till June 30, 2021. The FBR issues SRO 533(I)/2021 to comply with the decision of Economic Coordination Committee of the Cabinet (ECC) to exempt whole of customs duty on import of cotton and cotton yarn. The ECC […]

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