Applicable withholding sales tax rates on various supplies

KARACHI: Federal Board of Revenue (FBR) has notified withholding sales tax rates to be deducted / collected on various supplies by withholding agents. Read more »

Return filing hits new peak of 2.676 million on ATL conditions

ISLAMABAD: The condition of 100 percent higher withholding tax rates for persons not appearing on Active Taxpayers List (ATL) increased the income tax return filing for tax year 2018 to a new... Read more »

Tax rules for computation of profits, gains of insurance business

KARACHI: Federal Board of Revenue (FBR) has issued updated rules for the computation of profits and gains of the insurance business under Income Tax Ordinance, 2001. Read more »

FBR receives information of car buyers from withholding agents

ISLAMABAD: Federal Board of Revenue (FBR) has received information of persons who purchased motor vehicles during tax year 2019. Read more »

FBR issues guidelines to facilitate issuance of sales tax refunds in 72 hours

ISLAMABAD: Federal Board of Revenue (FBR) has issued guidelines to facilitate taxpayers in issuance of sales tax refunds within 72 hours. Read more »

Jewelers, real estate agents to maintain register, report suspicious transactions: draft rules issued

ISLAMABAD: Federal Board of Revenue (FBR) has proposed to make mandatory for jewelers and real estate agents to report suspicious transactions. Read more »

FBR withdraws 3pc value addition tax on imported consumer items

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn three percent minimum value addition tax on import of consumer items on which sales tax is paid on retail basis. Read more »

FBR officials display banners against proposed layoff plan

KARACHI: The officials of Federal Board of Revenue (FBR) have protested against new reform program planned by the government, which may result in layoff in the revenue body. Read more »

FBR proposed to collect sales tax on services

ISLAMABAD: The federal government is planning to takeover right to collect sales tax on services from the provinces as it was felt the true potential of collection was not realized. Read more »

FBR allows raids against unregistered manufacturers, suppliers

ISLAMABAD: Federal Board of Revenue (FBR) has given go ahead to directorate of intelligence and investigation for conducting raids against manufacturers and suppliers not registered under sales tax laws. Read more »

FBR officials, taxpayers interaction restricted to Bar Code based communication

ISLAMABAD: Tax officials have been restricted taxpayers interaction to barcode-based communication only, officials said on Tuesday. Read more »

Income tax return filing increases to record 2.667 million

ISLAMABAD: The number of income tax return filers has increased to record level of 2.667 million, according to Active Taxpayers List (ATL) for tax year 2018 released on Monday. Read more »