ISLAMABAD: The tax authorities are facing challenging revenue collection after imposing curbs on non-filers in the budget 2018-2019.
(more…)Tag: Federal Board of Revenue
The Federal Board of Revenue is Pakistan’s apex tax agency, overseeing tax collection and policies. Pakistan Revenue is committed to providing timely updates on the Federal Board of Revenue to its readers.
-
Applicable duty, tax rates on mobile phones
Applicable rates of duty and tax on mobile phones have been unveiled for the payment at the import stage and collected by Pakistan Customs.
(more…) -
FBR withdraws sales tax zero-rating on electricity supply to two textile units
KARACHI: Federal Board of Revenue (FBR) has withdrawn sales tax zero rating on supply of electricity to two textile units on misuse of tax concession facility.
(more…) -
Withholding tax rates on profit on banking deposits
Withholding tax rates on profit on banking deposits have been updated for tax year 2019. In a significant development for the financial sector, the Federal Board of Revenue (FBR) has announced updated withholding tax rates on profit earned from banking deposits for the tax year 2019.
(more…) -
Govt. agrees to abolish withholding tax on cash withdrawal: KCCI
KARACHI: The government has agreed to abolish the withholding tax on cash withdrawals from bank accounts by filers.
(more…) -
Late return filers may be allowed entry into ATL
Late return filers of income tax may soon have the opportunity to be included in the Active Taxpayers List (ATL) following proposed amendments to tax laws.
(more…) -
Sindh government gets share as per NFC formula: finance ministry
The Sindh government is set to receive its share as per the National Finance Commission (NFC) formula, as clarified by the federal finance ministry in a statement released on Thursday.
(more…) -
Withholding income tax rates at import stage for tax year 2019
Withholding income tax rates that will be deducted at the import stage for the tax year 2019 have been unveiled, giving importers in Pakistan a clear picture of their tax obligations.
(more…) -
Collection of Withholding Tax at Import Stage Under Income Tax Ordinance 2001
The Income Tax Ordinance, 2001 outlines the collection of withholding tax at the import stage in Pakistan. This is a crucial revenue collection mechanism and is primarily administered by the Collector of Customs.
(more…)
