Pakistan Revenue
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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The federal government, under the Finance Act 2019, extended the application of Federal Excise Duty (FED) to all imported vehicles, aligning the tax regime with that of locally manufactured automobiles. This policy shift represents a significant move towards harmonizing the taxation framework across the domestic and import markets.
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ISLAMABAD: The government has abolished special sales tax procedure for steel sector through Finance Bill 2019 and imposed 17 percent federal excise duty in sales tax mode. According to amendment proposed to Federal Excise Act, 2005 through Finance Bill 2019, normal tax of 17 percent ad valorem has been proposed on supply of steel billets, […]
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