Tag: FBR
Get the latest FBR news, tax updates, income tax, sales tax, customs, notifications, and policies from the Federal Board of Revenue.
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FBR issues updated withholding tax card for Tax Year 2019
The Federal Board of Revenue (FBR) in Pakistan has announced the issuance of an updated rate card for withholding tax for Tax Year 2019, incorporating amendments introduced through the Finance Supplementary Act of 2018.
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Inward remittances above Rs10 million per year require to explain source
The Federal Board of Revenue (FBR) in Pakistan is now scrutinizing the source of foreign remittances when the inward transfer exceeds Rs10 million to a recipient in a year.
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Complete VAT system planned under medium term fiscal framework
ISLAMABAD: The government is planning to a complete Value Added Tax (VAT) regime under its medium-term fiscal framework, aiming to make significant changes in taxation, according to sources.
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Abolishing advance tax on share sale, purchase on the cards
KARACHI: The government is reportedly considering the abolition of the advance tax on the sale and purchase of shares in the capital market, a move prompted by the Pakistan Stock Exchange (PSX) and Pakistan Stockbrokers Association’s demands.
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China gives four scanners to Pakistan Customs for preventing currency smuggling
ISLAMABAD – In a gesture of goodwill and cooperation, China has donated four advanced X-Ray scanners to the Pakistan Custom Wing of the Federal Board of Revenue (FBR).
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FBR holds three-day ICT on Feb 06
KARACHI – The Federal Board of Revenue (FBR) is all set to host a three-day International Conference on Taxation (ICT) commencing on February 6, 2019.
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Profit on Debt: FBR makes mandatory for banks to provide details of account holders
Islamabad, January 10, 2019 – The Federal Board of Revenue (FBR) has issued a new mandate that compels banks to provide details of individuals receiving profits on their deposits exceeding a certain threshold.
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FBR issues withholding tax card for year 2018/2019
KARACHI: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2018/2019 as per the amendments made through Finance Act, 2018 to Income Tax Ordinance, 2001. 1. Where the taxable income does not exceed Rs. 400,000: the tax rate shall be 0%. 2. Where the taxable income exceeds Rs.400,000 but does not…
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