Pakistan Revenue
In a move aimed at facilitating and expediting flood relief efforts, the Federal Board of Revenue (FBR) announced on Wednesday that it would be waiving customs duty, excise duty, and taxes on consignments related to flood relief activities for the next three months.
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ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced major tax exemptions for flood relief operation. The FBR issued SRO 1634(I)/2022 dated August 30, 2022 to allow the tax exemption. In order to enable the exemption, the FBR amended Second Schedule of the Income Tax Ordinance, 2001. It is pertinent to mention that tax is […]
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ISLAMABAD: The federal government on Tuesday granted tax exemptions to donations made for Prime Minister’s Flood Relief Fund 2022. The Federal Board of Revenue (FBR) issued SRO 1590(I)/2022 dated August 23, 2022 to exempts deduction of tax under various provisions of Income Tax Ordinance, 2001. According to the SRO an amendment has been made into […]
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KARACHI: The Finance Act, 2022 has amended provisions of Customs Act, 1969 to grant exemption and concessions from customs duty. Following are the exemptions and concessions of customs duty: Exemption of Customs Duty and Additional Customs Duty READ MORE: Commodities’ illegal movement to be treated as smuggling Customs Duty (CD) leviable on the import of […]
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KARACHI: Pakistan has granted exemption from tax on income of various charitable organizations through Finance Act, 2022.
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KARACHI: Pakistan has expanded scope of income tax exemption provided under international tax treaties. The change has been brought into Section 44 of Income Tax Ordinance, 2001 through Finance Act, 2022. READ MORE: Capital gains tax revamped on disposal of immovable properties Experts at PwC A. F. Ferguson & Co. explained the amendment saying that […]
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ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday allocated quota of raw material import on free of duty and taxes for industries located in erstwhile FATA/PATA. The FBR issued Sales Tax General Order (STGO) No. 14 dated April 16, 2022 regarding quota for import of raw materials for industries located in erstwhile FATA/PATA. The […]
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The Federal Board of Revenue (FBR) has issued an exemption on customs duty for the import of oxygen gas and oxygen cylinders.
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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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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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