exemption Archives - Page 3 of 6

FBR allows tax exemption on import of Chinese drones

November 1, 2021January 24, 2024Mrs. Anjum Shahnawaz

The Federal Board of Revenue (FBR) has announced income tax exemption on the import of drones donated by the Chinese Ministry of Agriculture and Rural Affairs.

Tax exemption allowed on import of 30 million face masks

July 28, 2021May 16, 2026Faisal Shahnawaz

In a proactive move to support the ongoing efforts in the fight against the COVID-19 pandemic, the Federal Board of Revenue (FBR) has granted a significant tax exemption on the import of 30 million face masks.

FBR explains exemption withdrawal not new tax

June 14, 2021June 14, 2021Mrs. Anjum Shahnawaz

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 […]

Bill withdraws income tax exemptions, concessions under Second Schedule

June 14, 2021May 16, 2026Mrs. Anjum Shahnawaz

ISLAMABAD: A bunch of income tax exemptions and concessions has been proposed through Finance Bill, 2021, which will be implemented from July 01, 2021.

FBR notifies duty exemption on cotton yarn import

May 6, 2021May 6, 2021Faisal Shahnawaz

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 […]

Duty, tax exemption on tea export grossly misused: PTA

March 20, 2021March 20, 2021Mrs. Anjum Shahnawaz1 Comment

KARACHI: Pakistan Tea Association (PTA) on Saturday pointed out gross misuse of duty and tax exemption granted on tea re-export by importers of tea as raw material. The office bearers of the association pointed out the SRO 450 which is meant for re export of tea after value addition, the importers who have exemption of […]

FBR exempts sales tax on local supply of imported sugar

October 12, 2020December 18, 2021Mrs. Anjum Shahnawaz

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 tax free import of sugar in order to reduce the price of the commodity in the local market. The Economic Coordination Committee (ECC) […]

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

October 9, 2020December 31, 2023Mrs. Anjum Shahnawaz

Islamabad – The Federal Board of Revenue (FBR) has granted a substantial exemption of Rs1.11 billion on gratuity payments during the tax year 2020.

Teachers, researchers avail Rs2.42 billion income tax exemption

October 7, 2020October 7, 2020Mrs. Anjum Shahnawaz

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 of the Second Schedule of Income Tax Ordinance, 2001, full time teachers or researchers are entitled for reduction in tax liability since 2006 […]

FBR grants Rs27 billion income tax exemption to power generation companies

October 6, 2020September 15, 2024Mrs. Anjum Shahnawaz

The Federal Board of Revenue (FBR) has granted income tax exemptions totaling Rs27 billion during the tax year 2020 to power generation companies operating in Pakistan. These exemptions were extended to 73 companies, underlining the government’s efforts to support the energy sector.

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