Pakistan Revenue
ISLAMABAD: The federal government on Friday presented budget for fiscal year 2021/2022 and proposed following budgetary measures pertaining to Federal Excise Duty (FED): REVENUE MEASURES 1. In order to reap reasonable revenue from this sector, federal excise on mobile phone calls exceeding three minutes @ Re 1 per call, SMS message @ Re. 0.1 per […]
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KARACHI: The government is seriously considering to bring down federal excise duty (FED) from existing 13 percent to 11.5 percent in the upcoming budget 2021/2022. According to sources the tax authorities had received instructions to finalize proposals regarding beverage industry for reducing the rate of FED from 13 percent to 11.5 percent. The FED rate […]
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KARACHI: The government is considering to reduce the federal excise duty on cigarettes in order to discourage duty evasion and stop smuggling. Sources said that proposals had been invited from stakeholders to rationalize the duty structure on tobacco industry. The sources said that the authorities were considering to reduce the FED rate by 10 percent […]
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ISLAMABAD: Federal Board of Revenue (FBR) has issued explanation to amendment made to Federal Excise Act, 2005 through Finance Act, 2020. The FBR through Circular No. 01 of 2020 dated August 06, 2020 explained the following amendments: 01. ENLARGING THE SCOPE OF SEIZURE AND CONFISCATION OF THE NONDUTY PAID ITEMS SUBJECT TO FED In view […]
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ISLAMABAD: The federal government has increased federal excise duty from 13 percent to 25 percent on consumption o f caffeinated energy drinks on both local supplies and import of such drinks. Hammad Azhar, Federal Minister for Industry and Production, while presenting the federal budget 2020/2021 on June 12 on floor of the house said that […]
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ISLAMABAD: Federal Board of Revenue (FBR) issued budget salient feature related to sales tax and federal excise duty (FED) presented through Finance Bill, 2020. RELIEF MEASURES The minimum threshold of supplies by retailers for obtaining CNIC of the buyers is proposed to be increased from Rs 50,000 to 100,000; In wake of COVID-19, the Federal […]
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ISLAMABAD: The Federal Board of Revenue (FBR) on has extended the last date for filing sales tax and federal excise return for the month of September 2019. According to a notification issued on Friday, the FBR extended the last date for making payment of sales tax and federal excise duty for the month of September […]
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KARACHI: The State Bank of Pakistan (SBP) has said that the imposition of federal excise duty (FED) may negatively affect local automobile industry as imported parts would become costlier. The enhancement of FED on imported vehicles could increase the demand for locally assembled vehicles. “However, because of increase in FED on the imported parts, automobile […]
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KARACHI: The government has decided to collect federal excise duty from steel products instead of sales tax. In this regard the Federal Board of Revenue (FBR) has issued 992(I)/2019 dated September 04, 2019 to implement the decision. The FBR issued minimum values of locally produced goods for the purpose of payment of federal excise duty […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Thursday extended the last date for sales tax and federal excise duty (FED) payment for the month of July 2019 up to August 23, 2019. The FBR in an office order informed all Chief Commissioners Inland Revenue of Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) regarding […]
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